Renasant (NASDAQ:RNST) Releases Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Renasant (NASDAQ:RNST - Get Free Report) issued its quarterly earnings results on Tuesday. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.11, Briefing.com reports. Renasant had a return on equity of 6.58% and a net margin of 17.91%.During the same quarter last year, the company posted $0.73 earnings per share.Renasant Stock Down 0.2%RNST traded down $0.07 during trading on Tuesday, hitting $37.20. The company had a trading volume of 540,586 shares, compared to its average volume of 637,505. The business has a 50-day moving average of $36.18 and a 200-day moving average of $36.54. Renasant has a 1-year low of $26.97 and a 1-year high of $40.40. The company has a market cap of $3.53 billion, a PE ratio of 11.38 and a beta of 0.97. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94. Hedge Funds Weigh In On RenasantA number of institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada grew its holdings in shares of Renasant by 128.5% during the 1st quarter. Royal Bank of Canada now owns 52,238 shares of the financial services provider's stock valued at $1,772,000 after acquiring an additional 29,380 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Renasant by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,167 shares of the financial services provider's stock worth $1,261,000 after acquiring an additional 1,621 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in Renasant during the first quarter valued at about $67,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Renasant by 13.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 189,105 shares of the financial services provider's stock valued at $6,416,000 after purchasing an additional 23,072 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Renasant in the 1st quarter worth $390,000. Institutional investors own 77.31% of the company's stock. Analyst Upgrades and DowngradesSeveral brokerages have recently weighed in on RNST. Hovde Group raised shares of Renasant from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $40.00 to $41.00 in a research report on Thursday, October 30th. TD Cowen restated a "buy" rating on shares of Renasant in a research note on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $43.33.Check Out Our Latest Report on RenasantAbout Renasant (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.Read MoreFive stocks we like better than RenasantHow a Family Trust May Be Able To Help Preserve Your WealthDo not delete, read immediatelyNEW LAW: Congress Approves Setup For Digital Dollar?“Fed Proof” Your Bank Account with THESE 4 Simple StepsA U.S. “birthright” claim worth trillions - activated quietlyThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Renasant Right Now?Before you consider Renasant, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Renasant wasn't on the list.While Renasant currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here