Renasant (NASDAQ:RNST) PT Raised to $38.00 at Truist Financial

Renasant (NASDAQ:RNST) had its price target lifted by Truist Financial from $32.00 to $38.00 in a research note published on Thursday, Benzinga reports. The firm currently has a hold rating on the financial services provider’s stock.

Other analysts have also issued research reports about the company. Piper Sandler reissued a neutral rating and issued a $33.00 target price on shares of Renasant in a research report on Wednesday, July 3rd. StockNews.com upgraded Renasant from a sell rating to a hold rating in a report on Saturday, April 27th. Hovde Group cut Renasant from an outperform rating to a market perform rating and raised their target price for the company from $36.00 to $38.00 in a report on Thursday. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Renasant from $34.00 to $36.00 and gave the stock a market perform rating in a research note on Thursday. Six analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $36.40.

Renasant Stock Performance

Shares of Renasant stock opened at $37.09 on Thursday. The business’s fifty day simple moving average is $30.98 and its 200-day simple moving average is $30.83. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.18. The firm has a market cap of $2.09 billion, a PE ratio of 15.08 and a beta of 1.03. Renasant has a 52 week low of $22.99 and a 52 week high of $37.40.

Renasant (NASDAQ:RNST) last announced its earnings results 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 net margin of 15.04% and a return on equity of 6.98%. Renasant’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.83 earnings per share. Equities analysts forecast that Renasant will post 2.71 earnings per share for the current year.

Institutional Investors Weigh In On Renasant

Several large investors have recently bought and sold shares of RNST. Brookstone Capital Management acquired a new position in shares of Renasant during the fourth quarter worth about $211,000. Ballew Advisors Inc increased its position in shares of Renasant by 43.8% in the 4th quarter. Ballew Advisors Inc now owns 11,131 shares of the financial services provider’s stock valued at $343,000 after purchasing an additional 3,389 shares during the last quarter. Park Place Capital Corp increased its position in shares of Renasant by 1.7% in the 4th quarter. Park Place Capital Corp now owns 113,158 shares of the financial services provider’s stock valued at $3,811,000 after purchasing an additional 1,837 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Renasant by 5.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,202 shares of the financial services provider’s stock valued at $849,000 after purchasing an additional 1,315 shares in the last quarter. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of Renasant during the 4th quarter worth $946,000. Hedge funds and other institutional investors own 77.31% of the company’s stock.

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.