Renasant (NASDAQ:RNST) PT Lowered to $32.00 at Truist Financial

Renasant (NASDAQ:RNST) had its target price decreased by Truist Financial from $33.00 to $32.00 in a research note released on Monday, Benzinga reports. Truist Financial currently has a hold rating on the financial services provider’s stock.

Several other research analysts also recently weighed in on the company. StockNews.com upgraded Renasant from a sell rating to a hold rating in a research note on Saturday, April 27th. Keefe, Bruyette & Woods reiterated a market perform rating and issued a $34.00 target price on shares of Renasant in a research note on Wednesday, July 3rd. Finally, Piper Sandler reiterated a neutral rating and issued a $33.00 target price on shares of Renasant in a research note on Wednesday, July 3rd. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of $34.00.

Renasant Trading Up 2.3 %

NASDAQ:RNST opened at $31.10 on Monday. The stock’s 50 day moving average price is $29.87 and its 200 day moving average price is $30.67. The company has a market capitalization of $1.75 billion, a PE ratio of 12.64 and a beta of 1.03. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.18. Renasant has a 52-week low of $22.99 and a 52-week high of $34.85.

Renasant (NASDAQ:RNST) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. The firm had revenue of $254.56 million for the quarter, compared to the consensus estimate of $159.60 million. Renasant had a return on equity of 7.44% and a net margin of 14.67%. During the same quarter last year, the business posted $0.82 EPS. On average, research analysts anticipate that Renasant will post 2.62 EPS for the current year.

Institutional Trading of Renasant

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC purchased a new stake in shares of Renasant in the fourth quarter valued at $25,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Renasant in the fourth quarter valued at $37,000. TFO Wealth Partners LLC grew its position in shares of Renasant by 13,710.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,381 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 1,371 shares during the period. Criterion Capital Advisors LLC purchased a new stake in shares of Renasant in the fourth quarter valued at $113,000. Finally, Bailard Inc. purchased a new stake in shares of Renasant in the fourth quarter valued at $205,000. 77.31% of the stock is 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.