BidaskClub lowered shares of Renasant (NASDAQ:RNST) from a hold rating to a sell rating in a report released on Wednesday morning, BidAskClub reports.

A number of other brokerages have also recently commented on RNST. Zacks Investment Research cut Renasant from a hold rating to a sell rating in a research note on Tuesday, February 19th. Stephens set a $36.00 target price on Renasant and gave the company a hold rating in a research report on Tuesday, January 22nd. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $37.00.

Renasant stock traded up $0.39 during mid-day trading on Wednesday, reaching $35.76. The stock had a trading volume of 3,177 shares, compared to its average volume of 197,643. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 0.96. Renasant has a fifty-two week low of $28.02 and a fifty-two week high of $49.78. The stock has a market capitalization of $2.07 billion, a PE ratio of 11.89 and a beta of 1.23.

Renasant (NASDAQ:RNST) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.77 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.77. Renasant had a return on equity of 8.76% and a net margin of 24.55%. The firm had revenue of $150.50 million during the quarter, compared to analysts’ expectations of $150.40 million. During the same quarter last year, the firm posted $0.70 earnings per share. The company’s revenue for the quarter was up 20.6% compared to the same quarter last year. Research analysts forecast that Renasant will post 3.2 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.22 per share. This is a boost from Renasant’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, June 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.46%. Renasant’s payout ratio is presently 28.00%.

In related news, EVP James W. Gray sold 2,504 shares of Renasant stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $38.33, for a total transaction of $95,978.32. Following the transaction, the executive vice president now owns 58,072 shares of the company’s stock, valued at $2,225,899.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.64% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of RNST. Norges Bank bought a new stake in Renasant during the fourth quarter worth $16,406,000. Westwood Holdings Group Inc. lifted its holdings in Renasant by 53.9% during the first quarter. Westwood Holdings Group Inc. now owns 1,200,353 shares of the financial services provider’s stock worth $40,632,000 after acquiring an additional 420,195 shares during the period. BlackRock Inc. lifted its holdings in Renasant by 8.9% during the fourth quarter. BlackRock Inc. now owns 3,630,777 shares of the financial services provider’s stock worth $109,576,000 after acquiring an additional 297,791 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Renasant by 8.0% during the first quarter. Dimensional Fund Advisors LP now owns 3,528,080 shares of the financial services provider’s stock worth $119,426,000 after acquiring an additional 262,796 shares during the period. Finally, Man Group plc bought a new stake in Renasant during the first quarter worth $4,497,000. Institutional investors and hedge funds own 61.03% of the company’s stock.

About Renasant

Renasant Corporation operates as a bank holding company for Renasant Bank, which provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings, money market, individual retirement, and health savings accounts, as well as safe deposit and night depository facilities.

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