Renasant (RNST) Scheduled to Post Earnings on Tuesday

Renasant (NASDAQ:RNST) is scheduled to be posting its quarterly earnings results after the market closes on Tuesday, October 22nd. Analysts expect Renasant to post earnings of $0.63 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Renasant (NASDAQ:RNST) last posted its earnings results on Tuesday, July 23rd. The financial services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.03. Renasant had a net margin of 15.04% and a return on equity of 6.98%. The company had revenue of $163.79 million during the quarter, compared to analysts’ expectations of $166.05 million. During the same period last year, the company posted $0.83 earnings per share. Renasant’s quarterly revenue was up 11.1% on a year-over-year basis. On average, analysts expect Renasant to post $3 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Renasant Stock Down 1.6 %

RNST opened at $33.67 on Friday. The company has a market capitalization of $1.90 billion, a PE ratio of 13.69 and a beta of 1.02. The firm has a 50-day simple moving average of $32.92 and a two-hundred day simple moving average of $31.58. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.18. Renasant has a 52 week low of $22.99 and a 52 week high of $37.40.

Renasant Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend was Monday, September 16th. Renasant’s payout ratio is presently 35.77%.

Analysts Set New Price Targets

RNST has been the topic of a number of research reports. Stephens raised Renasant from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $34.00 to $41.00 in a research note on Wednesday, July 31st. Raymond James upgraded shares of Renasant from a “market perform” rating to an “outperform” rating and set a $39.00 price target on the stock in a research report on Wednesday, July 31st. Piper Sandler raised shares of Renasant from a “neutral” rating to an “overweight” rating and upped their price target for the company from $34.00 to $40.00 in a research note on Monday, August 5th. Keefe, Bruyette & Woods raised shares of Renasant from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $36.00 to $40.00 in a research note on Friday, August 2nd. Finally, Truist Financial decreased their target price on shares of Renasant from $38.00 to $37.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Renasant has a consensus rating of “Moderate Buy” and a consensus price target of $39.33.

About Renasant

Renasant Corporation operates as a bank holding company for Renasant Bank that provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. The company operates through Community Banks, Insurance, and Wealth Management segments. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and factoring equipment leasing services, as well as safe deposit and night depository facilities.