Renasant (NASDAQ:RNST) Given New $44.00 Price Target at Hovde Group

Renasant (NASDAQ:RNST) had its price objective increased by Hovde Group from $41.00 to $44.00 in a report released on Friday, MarketBeat.com reports. Hovde Group currently has an outperform rating on the financial services provider’s stock.

Separately, TD Cowen reissued a “buy” rating on shares of Renasant in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat, Renasant has a consensus rating of “Buy” and an average target price of $43.00.

Renasant Trading Down 0.8%

Shares of RNST stock opened at $37.73 on Friday. Renasant has a 12 month low of $26.97 and a 12 month high of $40.40. The company has a market cap of $3.59 billion, a PE ratio of 11.54 and a beta of 0.97. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average is $36.43 and its two-hundred day moving average is $36.55.

Renasant (NASDAQ:RNST) last issued its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. Renasant had a net margin of 17.91% and a return on equity of 6.58%. The business had revenue of $216.11 million during the quarter, compared to analysts’ expectations of $275.40 million. During the same period in the previous year, the company earned $0.73 earnings per share. Equities analysts predict that Renasant will post 2.68 EPS for the current year.

Institutional Trading of Renasant

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Horizon Corp acquired a new position in shares of Renasant during the third quarter valued at about $25,000. EverSource Wealth Advisors LLC increased its stake in Renasant by 68.7% during the third quarter. EverSource Wealth Advisors LLC now owns 857 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 349 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Renasant in the 2nd quarter valued at approximately $37,000. PNC Financial Services Group Inc. lifted 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 worth $42,000 after acquiring an additional 345 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Renasant by 49.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,489 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 493 shares during the period. 77.31% of the stock is currently owned by institutional investors and hedge funds.

Renasant Company Profile

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.