Rating to Follow: Renasant (NASDAQ:RNST) Hit With Downgrade by Keefe Bruyette, Is This a Concern?

November 29, 2016 - By Darrin Black

Rating to Follow: Renasant (NASDAQ:RNST) Hit With Downgrade by Keefe Bruyette, Is This a Concern?

Renasant (NASDAQ:RNST) Downgrade

Renasant (NASDAQ:RNST) was downgraded by professional analysts at Keefe Bruyette from a Outperform rating to a Mkt Perform rating in a note revealed to investors on 29 November.

Renasant Corp. (NASDAQ:RNST) Ratings Coverage

Out of 4 analysts covering Renasant (NASDAQ:RNST), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. $40 is the highest target while $38 is the lowest. The $38 average target is -6.40% below today’s ($40.6) stock price. Renasant has been the topic of 7 analyst reports since October 22, 2015 according to StockzIntelligence Inc. The rating was downgraded by Raymond James to “Outperform” on Monday, September 12. The stock has “Equal Weight” rating given by Stephens on Thursday, October 22. The firm has “Buy” rating by Hilliard Lyons given on Thursday, April 28. The firm has “Long-Term Buy” rating by Hilliard Lyons given on Thursday, January 21. The company was downgraded on Monday, November 28 by Jefferies.

About 17,501 shares traded hands. Renasant Corp. (NASDAQ:RNST) has risen 18.47% since April 26, 2016 and is uptrending. It has outperformed by 13.21% the S&P500.

Analysts await Renasant Corp. (NASDAQ:RNST) to report earnings on January, 17. They expect $0.56 EPS, up 1.82% or $0.01 from last year’s $0.55 per share. RNST’s profit will be $23.03M for 18.13 P/E if the $0.56 EPS becomes a reality. After $0.59 actual EPS reported by Renasant Corp. for the previous quarter, Wall Street now forecasts -5.08% negative EPS growth.

Renasant Corporation is a bank holding firm that owns and operates Renasant Bank and Renasant Insurance, Inc. (Renasant Insurance), a subsidiary of the Bank with activities in Mississippi. The company has a market cap of $1.67 billion. The Firm operates through three divisions: Community Banks segment, Insurance segment and Wealth Management segment. It has a 19.02 P/E ratio. The Community Banks segment offers a range of banking and financial services to individuals and small to medium-sized businesses.

According to Zacks Investment Research, “Renasant Corporation is the parent of Renasant Bank and Renasant Insurance, Inc.”

RNST Company Profile

Renasant Corporation, incorporated on November 10, 1982, is a bank holding firm that owns and operates Renasant Bank (the Bank), a Mississippi banking association with activities in Mississippi, Tennessee, Alabama and Georgia, and Renasant Insurance, Inc. (Renasant Insurance), which is a subsidiary of the Bank, with activities in Mississippi. The Firm operates through three divisions: Community Banks segment, Insurance segment and Wealth Management segment. The Community Banks segment offers a range of banking and financial services to individuals and small to medium-sized businesses. The Insurance segment includes an insurance agency offering all lines of commercial and personal insurance through major carriers. The Wealth Management segment offers a range of fiduciary services, which includes the administration and management of trust accounts, including personal and corporate benefit accounts, self-directed individual retirement accounts (IRAs), and custodial accounts. In addition, the Wealth Management segment offers annuities, mutual funds and other investment services through a third-party broker-dealer.

More recent Renasant Corp. (NASDAQ:RNST) news were published by: Prnewswire.com which released: “Renasant Corporation Announces Pricing Of Subordinated Notes” on August 18, 2016. Also Prnewswire.com published the news titled: “Renasant Corporation and KeyWorth Bank Announce Definitive Merger Agreement” on October 20, 2015. Bizjournals.com‘s news article titled: “Renasant Corp. acquires Heritage Financial Group for $258 million” with publication date: December 11, 2014 was also an interesting one.

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