Brokerages expect Renasant Co. (NASDAQ:RNST – Get a rating) to report earnings of $0.58 per share for the current fiscal quarter, Zacks reports. Four analysts provided earnings estimates for Renasant, with the lowest EPS estimate of $0.51 and the highest estimate of $0.63. Renasant reported earnings of $0.85 per share in the same quarter last year, indicating a negative 31.8% year-over-year growth rate. The company is expected to release its next results on Tuesday, April 26.
According to Zacks, analysts expect Renasant to report annual earnings of $2.58 per share for the current fiscal year, with EPS estimates ranging from $2.44 to $2.75. For next year, analysts expect the company to post earnings of $2.86 per share, with EPS estimates ranging from $2.75 to $3.00. Zacks EPS averages are an average based on a survey of analysts who cover Renasant.
Renasant (NASDAQ:RNST – Get a rating) last announced its quarterly results on Tuesday, January 25. The financial services provider reported earnings per share (EPS) of $0.68 for the quarter, beating Thomson Reuters consensus estimate of $0.64 by $0.04. Renasant had a net margin of 25.28% and a return on equity of 7.64%. The company posted revenue of $159.50 million for the quarter, versus analyst estimates of $149.73 million. In the same quarter a year earlier, the company posted EPS of $0.68. The company’s revenue for the quarter was down 13.7% year over year.
Several analysts have commented on the RNST shares. Zacks Investment Research upgraded Renasant shares from a “hold” rating to a “buy” rating and set a target price of $42.00 on the stock in a Saturday, Jan. 1, report. DA Davidson moved Renasant shares from a “neutral” rating to a “buy” rating and set a target price of $41.00 for the company in a Thursday, February 24 research note.
Several large investors have recently increased or reduced their stake in RNST. CIBC Asset Management Inc. increased its position in Renasant by 5.9% during the third quarter. CIBC Asset Management Inc. now owns 6,709 shares of the financial services provider worth $242,000 after acquiring 374 additional shares in the last quarter. Raymond James & Associates increased its stake in Renasant by 1.9% during the fourth quarter. Raymond James & Associates now owns 20,514 shares of the financial services provider valued at $778,000 after buying 387 additional shares in the last quarter. The Swiss National Bank increased its stake in Renasant by 0.4% during the third quarter. The Swiss National Bank now owns 124,400 shares of the financial services provider valued at $4,485,000 after buying an additional 500 shares in the last quarter. Keybank National Association OH increased its stake in Renasant shares by 1.9% in the fourth quarter. Keybank National Association OH now owns 35,435 shares of the financial services provider worth $1,345,000 after buying an additional 650 shares in the last quarter. Finally, EverSource Wealth Advisors LLC bought a new stock position in Renasant in the fourth quarter worth $30,000. 79.76% of the shares are currently held by hedge funds and other institutional investors.
NASDAQ:RNST traded down $0.48 during Friday’s midday session, hitting $35.58. 156,761 shares of the company were traded, against an average volume of 260,451. The company has a quick ratio of 0.84, a current ratio of 0.88 and a leverage ratio of 0.21. Renasant has a 12-month low of $32.06 and a 12-month high of $46.97. The stock has a market capitalization of $1.99 billion, a PE ratio of 11.44 and a beta of 1.14. The company has a fifty-day moving average of $37.21 and a 200-day moving average of $37.00.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 31. Shareholders of record on Thursday, March 17 will receive a dividend of $0.22 per share. The ex-dividend date is Wednesday, March 16. This represents an annualized dividend of $0.88 and a dividend yield of 2.47%. Renasant’s payout ratio is 28.30%.
About Renasant (Get a rating)
Renasant Corp. is a bank holding company that provides financial, trust and insurance services. It operates through the following segments: community banks, insurance, wealth management and others. The community banking segment provides banking and financial services to individuals and small and medium-sized businesses, including checking and savings accounts, business and personal loans, interim construction loans, specialized commercial loans, as well as as safes and night deposits.
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