Renasant (RNST) Scheduled to Post Quarterly Earnings on Tuesday

Renasant (NASDAQ:RNST) is set to announce its earnings results after the market closes on Tuesday, October 22nd. Analysts expect the company to announce earnings of $0.63 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Renasant (NASDAQ:RNST) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.03. The company had revenue of $163.79 million during the quarter, compared to analyst estimates of $166.05 million. Renasant had a return on equity of 6.98% and a net margin of 15.04%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.83 earnings per share. On average, analysts expect Renasant to post $3 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Renasant Trading Down 1.6 %

Shares of Renasant stock opened at $33.67 on Monday. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 13.69 and a beta of 1.02. Renasant has a fifty-two week low of $22.99 and a fifty-two week high of $37.40. 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 has a 50 day moving average of $32.92 and a 200 day moving average of $31.59.

Renasant Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.22 per share. The ex-dividend date was Monday, September 16th. This represents a $0.88 annualized dividend and a dividend yield of 2.61%. Renasant’s dividend payout ratio is currently 35.77%.

Analyst Ratings Changes

Several research analysts have recently commented on RNST shares. Piper Sandler upgraded Renasant from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $34.00 to $40.00 in a research report on Monday, August 5th. Truist Financial cut their price target on Renasant from $38.00 to $37.00 and set a “hold” rating on the stock in a research note on Friday, September 20th. Hovde Group upgraded Renasant from a “market perform” rating to an “outperform” rating and raised their price target for the company from $38.00 to $39.00 in a research note on Monday, August 5th. Raymond James upgraded Renasant from a “market perform” rating to an “outperform” rating and set a $39.00 price target on the stock in a research note on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods upgraded Renasant from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $36.00 to $40.00 in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $39.33.

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.