News articles about Renasant Corporation (NASDAQ:RNST) have been trending somewhat positive this week, Alpha One reports. Alpha One, a service of Accern, rates the sentiment of media coverage by reviewing more than 20 million blog and news sources in real time. Alpha One ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Renasant Corporation earned a media sentiment score of 0.16 on Alpha One’s scale. Alpha One also assigned news articles about the financial services provider an impact score of 20 out of 100, indicating that recent media coverage is very unlikely to have an impact on the stock’s share price in the immediate future.
Several research firms have weighed in on RNST. Jefferies Group LLC reiterated a “hold” rating and issued a $44.00 target price on shares of Renasant Corporation in a report on Friday, June 9th. Zacks Investment Research lowered shares of Renasant Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. Finally, Keefe, Bruyette & Woods set a $43.00 price objective on shares of Renasant Corporation and gave the stock a “hold” rating in a report on Saturday, May 27th.
Shares of Renasant Corporation (NASDAQ RNST) traded down 0.70% during trading on Friday, hitting $43.78. 322,237 shares of the stock traded hands. Renasant Corporation has a 52-week low of $30.21 and a 52-week high of $45.16. The company’s 50 day moving average is $42.08 and its 200 day moving average is $41.25. The firm has a market cap of $1.94 billion, a PE ratio of 20.00 and a beta of 1.06.
Renasant Corporation (NASDAQ:RNST) last released its earnings results on Tuesday, April 25th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.02. Renasant Corporation had a net margin of 19.90% and a return on equity of 8.35%. The business had revenue of $106.04 million for the quarter, compared to analysts’ expectations of $109.87 million. During the same period last year, the company earned $0.54 earnings per share. On average, equities research analysts predict that Renasant Corporation will post $2.25 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be given a $0.18 dividend. The ex-dividend date is Wednesday, June 14th. This represents a $0.72 annualized dividend and a dividend yield of 1.64%. Renasant Corporation’s dividend payout ratio is presently 33.03%.
In related news, CEO Edward Robinson Mcgraw sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $43.00, for a total value of $215,000.00. Following the sale, the chief executive officer now directly owns 229,789 shares of the company’s stock, valued at $9,880,927. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Albert J. Dale III sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $42.10, for a total transaction of $336,800.00. Following the completion of the sale, the director now directly owns 40,620 shares in the company, valued at $1,710,102. The disclosure for this sale can be found here. Insiders sold 18,000 shares of company stock worth $751,500 over the last three months. Corporate insiders own 3.86% of the company’s stock.
About Renasant Corporation
Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance). The Company’s segments include Community Banks, which delivers a range of banking and financial services to individuals and small to medium-sized businesses, including checking and savings accounts, business and personal loans, equipment leasing, as well as safe deposit and night depository facilities; Insurance, which includes a full service insurance agency offering all lines of commercial and personal insurance through major carriers; Wealth Management, which offers a range of fiduciary services that includes the administration and management of trust accounts, including personal and corporate benefit accounts, and custodial accounts, and Other.
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