$0.60 EPS Expected for Renasant Corp. (RNST) This Quarter

Analysts forecast that Renasant Corp. (NASDAQ:RNST) will post earnings per share of $0.60 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Renasant’s earnings. Renasant reported earnings of $0.59 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.7%. The firm is expected to report its next earnings report after the market closes on Tuesday, January 16th.

According to Zacks, analysts expect that Renasant will report full year earnings of $2.33 per share for the current financial year, with EPS estimates ranging from $2.24 to $2.42. For the next financial year, analysts forecast that the business will post earnings of $2.94 per share, with EPS estimates ranging from $2.67 to $3.15. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Renasant.

Renasant (NASDAQ:RNST) last announced its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.08). The firm had revenue of $123.43 million during the quarter, compared to analyst estimates of $127.07 million. Renasant had a net margin of 20.44% and a return on equity of 8.15%. During the same period in the prior year, the company posted $0.59 earnings per share.

A number of research analysts have recently weighed in on RNST shares. Zacks Investment Research lowered Renasant from a “buy” rating to a “hold” rating in a report on Saturday, October 21st. ValuEngine raised Renasant from a “hold” rating to a “buy” rating in a report on Monday, September 18th. BidaskClub lowered Renasant from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $45.00 price objective on shares of Renasant in a report on Friday, December 22nd. Finally, Sandler O’Neill reissued a “hold” rating and issued a $45.00 price objective on shares of Renasant in a report on Thursday, January 4th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $45.25.

In other news, Director J Niles Mcneel sold 10,000 shares of the company’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $42.39, for a total value of $423,900.00. Following the sale, the director now owns 29,921 shares in the company, valued at $1,268,351.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William Mark Williams sold 7,000 shares of the company’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $41.32, for a total value of $289,240.00. Following the completion of the sale, the executive vice president now owns 21,652 shares in the company, valued at approximately $894,660.64. The disclosure for this sale can be found here. Insiders sold 32,729 shares of company stock worth $1,356,863 in the last 90 days. Company insiders own 3.86% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Jane Street Group LLC purchased a new stake in shares of Renasant in the third quarter worth about $217,000. Dimensional Fund Advisors LP boosted its stake in shares of Renasant by 2.8% in the third quarter. Dimensional Fund Advisors LP now owns 3,017,641 shares of the financial services provider’s stock worth $129,456,000 after buying an additional 82,379 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Renasant by 5.5% in the third quarter. Schwab Charles Investment Management Inc. now owns 192,407 shares of the financial services provider’s stock worth $8,255,000 after buying an additional 10,115 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Renasant by 36.5% in the third quarter. Wells Fargo & Company MN now owns 1,423,017 shares of the financial services provider’s stock worth $61,048,000 after buying an additional 380,801 shares during the last quarter. Finally, Citadel Advisors LLC boosted its stake in shares of Renasant by 79.8% in the third quarter. Citadel Advisors LLC now owns 53,324 shares of the financial services provider’s stock worth $2,288,000 after buying an additional 23,662 shares during the last quarter. Hedge funds and other institutional investors own 64.66% of the company’s stock.

Shares of Renasant (NASDAQ:RNST) traded up $0.70 during mid-day trading on Monday, hitting $43.54. The stock had a trading volume of 173,000 shares, compared to its average volume of 161,586. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $2,110.00, a price-to-earnings ratio of 19.88 and a beta of 1.01. Renasant has a fifty-two week low of $37.68 and a fifty-two week high of $45.31.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th were paid a $0.19 dividend. This is an increase from Renasant’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, December 14th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.75%. Renasant’s dividend payout ratio is presently 34.70%.

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About Renasant

Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance). The Company’s segments include Community Banks, which delivers a range of banking and financial services to individuals and small to medium-sized businesses, including checking and savings accounts, business and personal loans, equipment leasing, as well as safe deposit and night depository facilities; Insurance, which includes a full service insurance agency offering all lines of commercial and personal insurance through major carriers; Wealth Management, which offers a range of fiduciary services that includes the administration and management of trust accounts, including personal and corporate benefit accounts, and custodial accounts, and Other.

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