Renasant (NASDAQ:RNST) Price Target Raised to $36.00 at Keefe, Bruyette & Woods

Renasant (NASDAQ:RNST) had its price objective boosted by Keefe, Bruyette & Woods from $34.00 to $36.00 in a research note published on Thursday morning, Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Several other brokerages also recently weighed in on RNST. StockNews.com raised Renasant from a sell rating to a hold rating in a research note on Saturday, April 27th. Truist Financial decreased their target price on shares of Renasant from $33.00 to $32.00 and set a hold rating for the company in a research report on Monday, July 8th. Piper Sandler restated a neutral rating and set a $33.00 price target on shares of Renasant in a research report on Wednesday, July 3rd. Finally, Hovde Group cut shares of Renasant from an outperform rating to a market perform rating and increased their price objective for the company from $36.00 to $38.00 in a report on Thursday. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $36.40.

Renasant Stock Performance

RNST stock opened at $36.41 on Thursday. The stock’s fifty day moving average is $30.85 and its two-hundred day moving average is $30.81. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 14.80 and a beta of 1.03. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.93. Renasant has a 1 year low of $22.99 and a 1 year high of $37.40.

Renasant (NASDAQ:RNST) last posted its earnings results on Tuesday, July 23rd. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. Renasant had a net margin of 15.04% and a return on equity of 6.98%. The firm had revenue of $163.79 million during the quarter, compared to analyst estimates of $166.05 million. During the same period in the previous year, the business posted $0.83 EPS. Renasant’s revenue was up 11.1% on a year-over-year basis. On average, research analysts predict that Renasant will post 2.62 EPS for the current year.

Institutional Trading of Renasant

A number of large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its position in shares of Renasant by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 562,008 shares of the financial services provider’s stock valued at $17,164,000 after acquiring an additional 11,828 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Renasant by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 28,300 shares of the financial services provider’s stock valued at $864,000 after purchasing an additional 500 shares during the period. Triad Wealth Partners LLC purchased a new position in Renasant in the 2nd quarter worth about $157,000. Park Place Capital Corp raised its holdings in Renasant by 0.9% during the 2nd quarter. Park Place Capital Corp now owns 88,502 shares of the financial services provider’s stock worth $2,703,000 after buying an additional 804 shares during the period. Finally, Waverly Advisors LLC lifted its stake in Renasant by 24.6% during the first quarter. Waverly Advisors LLC now owns 34,293 shares of the financial services provider’s stock valued at $1,074,000 after buying an additional 6,771 shares in the last quarter. 77.31% of the stock is currently owned by institutional investors.

Renasant Company Profile

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.