Renasant (NASDAQ:RNST) Posts Earnings Results, Beats Estimates By $0.02 EPS

Renasant (NASDAQ:RNST) issued its earnings results on Tuesday. The financial services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.02, Briefing.com reports. The company had revenue of $163.79 million for the quarter, compared to analyst estimates of $166.05 million. Renasant had a net margin of 14.67% and a return on equity of 7.44%. 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.

Renasant Stock Down 0.3 %

Shares of NASDAQ RNST traded down $0.10 during midday trading on Wednesday, reaching $36.60. 13,156 shares of the company’s stock were exchanged, compared to its average volume of 238,971. The stock has a market capitalization of $2.06 billion, a PE ratio of 14.92 and a beta of 1.03. Renasant has a 52-week low of $22.99 and a 52-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 business’s fifty day moving average price is $30.65 and its two-hundred day moving average price is $30.73.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Keefe, Bruyette & Woods restated a “market perform” rating and set a $34.00 price objective on shares of Renasant in a research report on Wednesday, July 3rd. Truist Financial dropped their price objective on Renasant from $33.00 to $32.00 and set a “hold” rating for the company in a research report on Monday, July 8th. StockNews.com raised shares of Renasant from a “sell” rating to a “hold” rating in a research note on Saturday, April 27th. Finally, Piper Sandler reiterated a “neutral” rating and set a $33.00 price objective on shares of Renasant in a report on Wednesday, July 3rd. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $34.00.

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.