The stock of Renasant Corp. (NASDAQ:RNST) hit a new 52-week high and has $42.35 target or 3.00% above today’s $41.12 share price. The 9 months bullish chart indicates low risk for the $1.78B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $42.35 price target is reached, the company will be worth $53.40M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 116,163 shares traded hands. Renasant Corp. (NASDAQ:RNST) has risen 21.76% since April 21, 2016 and is uptrending. It has outperformed by 16.43% 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 $24.24 million for 18.36 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 Corp. (NASDAQ:RNST) Ratings Coverage
Out of 4 analysts covering Renasant (NASDAQ:RNST), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. Renasant has been the topic of 6 analyst reports since October 22, 2015 according to StockzIntelligence Inc. Raymond James downgraded the shares of RNST in a report on Monday, September 12 to “Outperform” rating. The stock of Renasant Corp. (NASDAQ:RNST) earned “Buy” rating by Hilliard Lyons on Thursday, April 28. The stock of Renasant Corp. (NASDAQ:RNST) earned “Long-Term Buy” rating by Hilliard Lyons on Thursday, January 21. The company was downgraded on Thursday, October 22 by Stephens.
According to Zacks Investment Research, “Renasant Corporation is the parent of Renasant Bank and Renasant Insurance, Inc.”
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.
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.
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