Renasant (NASDAQ:RNST) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

by · The Markets Daily

Renasant Co. (NASDAQ:RNSTGet Free Report)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $36.71 and traded as high as $41.37. Renasant shares last traded at $40.4020, with a volume of 811,505 shares trading hands.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RNST. TD Cowen reissued a “buy” rating on shares of Renasant in a research report on Thursday, January 29th. Hovde Group lifted their price target on shares of Renasant from $41.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $43.00.

Check Out Our Latest Stock Analysis on Renasant

Renasant Trading Down 1.0%

The company has a 50 day moving average of $37.29 and a 200-day moving average of $36.71. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of 12.36 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.96.

Renasant (NASDAQ:RNSTGet Free Report) last issued its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. The company had revenue of $216.11 million for the quarter, compared to analyst estimates of $275.40 million. Renasant had a net margin of 17.91% and a return on equity of 6.58%. During the same period in the prior year, the firm earned $0.73 earnings per share. On average, research analysts anticipate that Renasant Co. will post 2.68 earnings per share for the current year.

Insider Buying and Selling

In other Renasant news, EVP Mark Jeanfreau sold 6,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $37.88, for a total transaction of $227,280.00. Following the sale, the executive vice president directly owned 65,172 shares in the company, valued at $2,468,715.36. This represents a 8.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO James C. Iv Mabry sold 12,500 shares of the business’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $37.83, for a total transaction of $472,875.00. Following the completion of the transaction, the chief financial officer owned 105,337 shares of the company’s stock, valued at approximately $3,984,898.71. This trade represents a 10.61% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Renasant

A number of hedge funds have recently bought and sold shares of RNST. First Horizon Corp acquired a new position in shares of Renasant during the third quarter worth about $25,000. EverSource Wealth Advisors LLC lifted its stake in Renasant by 68.7% in the third quarter. EverSource Wealth Advisors LLC now owns 857 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 349 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Renasant during the 2nd quarter worth approximately $37,000. PNC Financial Services Group Inc. increased its position in shares of Renasant by 42.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,152 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 345 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Renasant in the 4th quarter valued at $60,000. Institutional investors and hedge funds own 77.31% of the company’s stock.

About Renasant

(Get Free Report)

Renasant Corporation is a financial holding company providing banking and related services through its primary subsidiary, Renasant Bank. With origins dating back to 1904 in Tupelo, Mississippi, the company offers a comprehensive suite of commercial and consumer banking products, including deposit accounts, lending and treasury management services. Renasant serves individuals, small businesses and corporate clients across the southeastern United States.

The company operates more than 110 banking offices across Mississippi, Alabama, Tennessee, Florida and Georgia, supplemented by a network of ATMs and digital platforms.

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