Renasant (NASDAQ:RNST) Rating Reiterated by Keefe, Bruyette & Woods

Renasant (NASDAQ:RNST)‘s stock had its “market perform” rating reaffirmed by research analysts at Keefe, Bruyette & Woods in a report issued on Wednesday, Benzinga reports. They presently have a $34.00 price target on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 13.26% from the stock’s previous close.

Several other equities analysts have also recently issued reports on RNST. Truist Financial decreased their target price on shares of Renasant from $35.00 to $33.00 and set a “hold” rating for the company in a research note on Monday, April 1st. StockNews.com raised shares of Renasant from a “sell” rating to a “hold” rating in a research note on Saturday, April 27th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Renasant currently has an average rating of “Hold” and an average target price of $34.25.

Renasant Stock Performance

Shares of NASDAQ RNST opened at $30.02 on Wednesday. The stock has a market cap of $1.69 billion, a PE ratio of 12.20 and a beta of 1.03. The firm has a fifty day moving average price of $29.81 and a 200-day moving average price of $30.78. Renasant has a 1 year low of $22.99 and a 1 year high of $34.85. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.93 and a quick ratio of 0.92.

Renasant (NASDAQ:RNST) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. The company had revenue of $254.56 million during the quarter, compared to analyst estimates of $159.60 million. Renasant had a net margin of 14.67% and a return on equity of 7.44%. During the same quarter last year, the business posted $0.82 EPS. Equities analysts anticipate that Renasant will post 2.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Renasant

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RNST. Public Employees Retirement System of Ohio lifted its position in Renasant by 10.0% in the third quarter. Public Employees Retirement System of Ohio now owns 139,706 shares of the financial services provider’s stock worth $3,659,000 after purchasing an additional 12,741 shares during the period. Ignite Planners LLC grew its position in shares of Renasant by 8.0% in the 4th quarter. Ignite Planners LLC now owns 18,622 shares of the financial services provider’s stock valued at $626,000 after purchasing an additional 1,382 shares during the period. Brookstone Capital Management bought a new stake in Renasant in the 4th quarter valued at approximately $211,000. Ballew Advisors Inc raised its stake in shares of Renasant by 43.8% during the 4th quarter. Ballew Advisors Inc now owns 11,131 shares of the financial services provider’s stock worth $343,000 after purchasing an additional 3,389 shares in the last quarter. Finally, Park Place Capital Corp increased its holdings in shares of Renasant by 1.7% during the 4th quarter. Park Place Capital Corp now owns 113,158 shares of the financial services provider’s stock worth $3,811,000 after acquiring an additional 1,837 shares during the last quarter. Institutional investors own 77.31% of the company’s stock.

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.