Renasant (NASDAQ:RNST) Stock Rating Reaffirmed by Piper Sandler

Renasant (NASDAQ:RNST)‘s stock had its “neutral” rating restated by stock analysts at Piper Sandler in a research note issued on Wednesday, Benzinga reports. They presently have a $33.00 price target on the financial services provider’s stock. Piper Sandler’s target price suggests a potential upside of 10.15% from the stock’s current price.

Several other brokerages have also recently commented on RNST. StockNews.com raised Renasant from a “sell” rating to a “hold” rating in a research note on Saturday, April 27th. Truist Financial dropped their price target on shares of Renasant from $35.00 to $33.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $34.00 price objective on shares of Renasant in a research note on Wednesday. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $34.25.

Renasant Stock Down 2.0 %

NASDAQ:RNST traded down $0.60 during trading hours on Wednesday, hitting $29.96. 34,539 shares of the company’s stock traded hands, compared to its average volume of 234,723. Renasant has a twelve month low of $22.99 and a twelve month high of $34.85. The firm has a market cap of $1.69 billion, a P/E ratio of 12.17 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. The stock’s fifty day moving average price is $29.82 and its two-hundred day moving average price is $30.79.

Renasant (NASDAQ:RNST) last issued its earnings results 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. Renasant had a return on equity of 7.44% and a net margin of 14.67%. The company had revenue of $254.56 million for the quarter, compared to the consensus estimate of $159.60 million. During the same quarter in the prior year, the company earned $0.82 EPS. On average, research analysts expect that Renasant will post 2.62 earnings per share for the current fiscal year.

Institutional Trading of Renasant

Several hedge funds and other institutional investors have recently bought and sold shares of RNST. GAMMA Investing LLC acquired a new position in Renasant during the fourth quarter worth $25,000. Atlantic Edge Private Wealth Management LLC acquired a new position in Renasant in the fourth quarter valued at about $37,000. TFO Wealth Partners LLC grew its stake in Renasant by 13,710.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,381 shares of the financial services provider’s stock worth $47,000 after buying an additional 1,371 shares during the last quarter. Criterion Capital Advisors LLC acquired a new stake in shares of Renasant during the fourth quarter worth approximately $113,000. Finally, Bailard Inc. bought a new position in shares of Renasant in the fourth quarter valued at approximately $205,000. 77.31% of the stock is currently owned by institutional investors and hedge funds.

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.