Key Points
- Insider sale: EVP Mark Jeanfreau sold 6,000 shares at an average $37.88 on Feb. 2 for $227,280, cutting his stake by 8.43% to 65,172 shares, and the transaction—together with a separate 12,500‑share sale by the CFO—could heighten investor concern.
- Mixed Q4 results and bullish analyst response: Renasant beat EPS estimates ($0.91 vs. $0.80) but missed revenue (~$216.1M vs. ~$275M), while analysts have largely turned positive, leaving a consensus "Buy" and an average target near $43 (Hovde $44).
Renasant Co. (NASDAQ:RNST - Get Free Report) EVP Mark Jeanfreau sold 6,000 shares of the company's stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $37.88, for a total value of $227,280.00. Following the completion of the sale, the executive vice president owned 65,172 shares in the company, valued at $2,468,715.36. This trade represents a 8.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Renasant Trading Up 1.7%
Shares of NASDAQ RNST opened at $38.45 on Wednesday. The company's 50 day simple moving average is $36.54 and its 200 day simple moving average is $36.52. The firm has a market capitalization of $3.65 billion, a P/E ratio of 11.76 and a beta of 0.97. Renasant Co. has a fifty-two week low of $26.97 and a fifty-two week high of $40.40. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94.
Renasant (NASDAQ:RNST - Get Free Report) last released its earnings results on Tuesday, January 27th. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.11. The business had revenue of $216.11 million during the quarter, compared to analysts' expectations of $275.40 million. Renasant had a net margin of 17.91% and a return on equity of 6.58%. During the same period last year, the business earned $0.73 earnings per share. On average, analysts predict that Renasant Co. will post 2.68 EPS for the current year.
Analysts Set New Price Targets
RNST has been the topic of several recent analyst reports. Hovde Group boosted their price target on Renasant from $41.00 to $44.00 and gave the company an "outperform" rating in a research note on Friday, January 30th. TD Cowen reissued a "buy" rating on shares of Renasant in a research report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $43.00.
Check Out Our Latest Stock Report on RNST
Institutional Investors Weigh In On Renasant
Institutional investors have recently bought and sold shares of the stock. First Horizon Corp bought a new stake in Renasant during the third quarter worth about $25,000. EverSource Wealth Advisors LLC increased its stake in Renasant by 68.7% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 857 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 349 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Renasant in the second quarter worth $37,000. PNC Financial Services Group Inc. boosted its position in shares of Renasant by 42.8% during the third quarter. PNC Financial Services Group Inc. now owns 1,152 shares of the financial services provider's stock valued at $42,000 after buying an additional 345 shares during the last quarter. Finally, Jones Financial Companies Lllp purchased a new position in shares of Renasant in the 1st quarter worth $67,000. Institutional investors own 77.31% of the company's stock.
Renasant News Roundup
Here are the key news stories impacting Renasant this week:
Renasant Company Profile
(
Get Free Report)
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.
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