Renasant (NASDAQ:RNST) Issues Quarterly Earnings Results

Renasant (NASDAQ:RNST) issued its earnings results on Tuesday. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03, Briefing.com reports. The company had revenue of $163.79 million for the quarter, compared to analysts’ expectations of $166.05 million. Renasant had a net margin of 15.04% and a return on equity of 6.98%. Renasant’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.83 EPS.

Renasant Trading Up 0.3 %

Shares of RNST traded up $0.11 during mid-day trading on Friday, reaching $36.52. 32,612 shares of the company were exchanged, compared to its average volume of 240,957. The business has a 50 day simple moving average of $30.85 and a two-hundred day simple moving average of $30.81. 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 52 week low of $22.99 and a 52 week high of $37.40. The stock has a market capitalization of $2.06 billion, a PE ratio of 14.80 and a beta of 1.03.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RNST. Truist Financial boosted their target price on Renasant from $32.00 to $38.00 and gave the stock a “hold” rating in a report on Thursday. Hovde Group lowered Renasant from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $36.00 to $38.00 in a report on Thursday. Keefe, Bruyette & Woods upped their price target on shares of Renasant from $34.00 to $36.00 and gave the company a “market perform” rating in a research note on Thursday. Piper Sandler reiterated a “neutral” rating and issued a $33.00 price objective on shares of Renasant in a research note on Wednesday, July 3rd. Finally, StockNews.com raised Renasant from a “sell” rating to a “hold” rating in a research note on Saturday, April 27th. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $36.40.

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.