Today’s Rating On Watch: What To Expect After Renasant Corp (NASDAQ:RNST)’s Downgrade Rating From KBW?

November 29, 2016 - By Hazel Jackson

Today's Rating On Watch: What To Expect After Renasant Corp (NASDAQ:RNST)'s Downgrade Rating From KBW?

Renasant Corp (NASDAQ:RNST) Downgrade

In a an analyst note revealed to investors and clients on 29 November, KBW stated it was downgrading Renasant Corp (NASDAQ:RNST) stock rating from a “Outperform” to a “Mkt Perform”.

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 -6.77% below today’s ($40.76) stock price. Renasant has been the topic of 7 analyst reports since October 22, 2015 according to StockzIntelligence Inc. The rating was downgraded by Jefferies on Monday, November 28 to “Hold”. The firm has “Long-Term Buy” rating by Hilliard Lyons given on Thursday, January 21. The stock of Renasant Corp. (NASDAQ:RNST) has “Buy” rating given on Thursday, April 28 by Hilliard Lyons. The firm earned “Outperform” rating on Monday, September 12 by Raymond James. The rating was downgraded by Stephens to “Equal Weight” on Thursday, October 22.

About 231,994 shares traded hands or 26.83% up from the average. 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 $23.08 million for 18.20 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 $1.68 billion. The Firm operates through three divisions: Community Banks segment, Insurance segment and Wealth Management segment. It has a 19.13 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 important recent Renasant Corp. (NASDAQ:RNST) news were published by: Marketwatch.com which released: “Renasant downgraded to outperform from strong buy at Raymond James” on February 06, 2010, also Prnewswire.com published article titled: “Renasant Corporation Announces Pricing Of Subordinated Notes”, Prnewswire.com published: “Renasant Corporation and KeyWorth Bank Announce Definitive Merger Agreement” on October 20, 2015. More interesting news about Renasant Corp. (NASDAQ:RNST) was released by: Bizjournals.com and their article: “Renasant Corp. acquires Heritage Financial Group for $258 million” with publication date: December 11, 2014.

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