Analysts predict that Renasant Corp. (NASDAQ:RNST) will post $148.80 million in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Renasant’s earnings. The lowest sales estimate is $144.80 million and the highest is $152.10 million. Renasant reported sales of $154.76 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 3.9%. The business is scheduled to issue its next earnings report on Monday, July 27th.
According to Zacks, analysts expect that Renasant will report full-year sales of $593.66 million for the current fiscal year, with estimates ranging from $574.90 million to $614.20 million. For the next fiscal year, analysts expect that the company will report sales of $584.84 million, with estimates ranging from $571.20 million to $614.90 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Renasant.
Renasant (NASDAQ:RNST) last issued its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.47). The firm had revenue of $144.17 million during the quarter, compared to analyst estimates of $143.70 million. Renasant had a return on equity of 6.48% and a net margin of 18.07%. During the same quarter in the prior year, the firm earned $0.77 EPS.
Shares of Renasant stock traded down $0.84 during trading on Monday, reaching $23.00. The company had a trading volume of 526,388 shares, compared to its average volume of 250,943. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 10.70 and a beta of 1.31. The firm’s fifty day moving average is $23.79 and its 200-day moving average is $28.11. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.96. Renasant has a fifty-two week low of $18.22 and a fifty-two week high of $36.84.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Thursday, April 16th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $0.88 annualized dividend and a yield of 3.83%. Renasant’s dividend payout ratio (DPR) is 30.24%.
In other Renasant news, Director R Rick Hart sold 4,058 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $24.21, for a total value of $98,244.18. Following the completion of the transaction, the director now owns 68,712 shares in the company, valued at approximately $1,663,517.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard Heyer bought 2,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was purchased at an average price of $24.58 per share, with a total value of $49,160.00. Following the transaction, the director now owns 28,287 shares in the company, valued at approximately $695,294.46. The disclosure for this purchase can be found here. 3.99% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of RNST. Rhumbline Advisers grew its position in Renasant by 3.0% in the 4th quarter. Rhumbline Advisers now owns 91,012 shares of the financial services provider’s stock worth $3,224,000 after purchasing an additional 2,663 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Renasant by 1.1% in the fourth quarter. Swiss National Bank now owns 89,200 shares of the financial services provider’s stock valued at $3,159,000 after acquiring an additional 1,000 shares in the last quarter. State Street Corp boosted its holdings in shares of Renasant by 2.2% in the fourth quarter. State Street Corp now owns 1,312,835 shares of the financial services provider’s stock valued at $46,787,000 after acquiring an additional 28,867 shares in the last quarter. Sei Investments Co. bought a new position in shares of Renasant in the fourth quarter valued at approximately $259,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of Renasant by 32.3% in the fourth quarter. Victory Capital Management Inc. now owns 17,851 shares of the financial services provider’s stock valued at $632,000 after acquiring an additional 4,355 shares in the last quarter. Hedge funds and other institutional investors own 66.58% of the company’s stock.
Renasant Corporation operates as a bank holding company for Renasant Bank, which 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, money market, individual retirement, and health savings accounts, as well as safe deposit and night depository facilities.
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