Renasant Co. (NASDAQ:RNST – Free Report) – Equities researchers at DA Davidson issued their Q3 2023 earnings estimates for shares of Renasant in a note issued to investors on Thursday, August 3rd. DA Davidson analyst K. Fitzsimmons anticipates that the financial services provider will post earnings of $0.72 per share for the quarter. The consensus estimate for Renasant’s current full-year earnings is $2.86 per share.
Renasant (NASDAQ:RNST – Get Free Report) last announced its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.08. Renasant had a return on equity of 8.69% and a net margin of 20.47%. The firm had revenue of $214.39 million for the quarter, compared to analysts’ expectations of $170.80 million. During the same period in the prior year, the business posted $0.72 earnings per share.
Renasant Trading Up 1.1 %
Shares of RNST opened at $30.80 on Friday. Renasant has a twelve month low of $23.47 and a twelve month high of $41.77. The company has a quick ratio of 0.88, a current ratio of 0.90 and a debt-to-equity ratio of 0.19. The stock has a market cap of $1.73 billion, a PE ratio of 10.34 and a beta of 1.10. The business’s 50-day moving average price is $28.58 and its 200-day moving average price is $30.53.
Insiders Place Their Bets
In other news, EVP Curtis J. Perry bought 10,000 shares of the business’s stock in a transaction on Wednesday, May 10th. The stock was acquired at an average price of $24.45 per share, with a total value of $244,500.00. Following the completion of the purchase, the executive vice president now directly owns 70,413 shares in the company, valued at $1,721,597.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.87% of the stock is owned by insiders.
Institutional Trading of Renasant
Institutional investors have recently made changes to their positions in the stock. Arcus Capital Partners LLC purchased a new stake in shares of Renasant during the fourth quarter valued at approximately $25,000. Delta Asset Management LLC TN purchased a new stake in shares of Renasant during the fourth quarter valued at approximately $29,000. Point72 Middle East FZE purchased a new stake in shares of Renasant during the fourth quarter valued at approximately $74,000. Tower Research Capital LLC TRC boosted its stake in shares of Renasant by 803.8% during the first quarter. Tower Research Capital LLC TRC now owns 3,064 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 2,725 shares during the period. Finally, Quadrature Capital Ltd purchased a new stake in shares of Renasant during the third quarter valued at approximately $202,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.
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. It operates through three segments: Community Banks, Insurance, and Wealth Management. 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.
Featured Articles
- Five stocks we like better than Renasant
- Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?
- 3 Best Meme ETFs to Buy Now
- How to Choose Top Rated Stocks
- XPO Keeps Reaching New Highs: Markets Love the Stock
- Earnings Per Share Calculator: How to Calculate EPS
- Starbucks Market at a Turning Point: Is a Breakout Imminent?
Receive News & Ratings for Renasant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Renasant and related companies with MarketBeat.com's FREE daily email newsletter.
