Renasant Corp. (RNST) is Downgraded by Jefferies to Hold

Renasant Corp. (RNST) was Downgraded by Jefferies to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Jefferies advised their investors in a research report released on Nov 28, 2016.

Many Wall Street Analysts have commented on Renasant Corp.. Renasant Corp. was Downgraded by Raymond James to ” Outperform” on Sep 12, 2016.

On the company’s financial health, Renasant Corp. reported $0.59 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Oct 18, 2016. Analyst had a consensus of $0.58.Analysts expectations of $ 113.25.During the same quarter in the previous year, the company posted $0.53 EPS.

Renasant Corp. opened for trading at $41.21 and hit $41.27 on the upside on Friday, eventually ending the session at $41.18, with a gain of 0.15% or 0.06 points. The heightened volatility saw the trading volume jump to 56,553 shares. Company has a market cap of $1,734 M.

Investors should note that on Nov 15, 2016, Renasant Corp. announced a cash dividend of $0.1800. The company’s management has announced Dec 12, 2016 as the ex-dividend date and fixed the record date on Dec 14, 2016. The payable date has been fixed on Jan 1, 2017.

In a different news, on Nov 22, 2016, J Niles Mcneel (director) sold 10,346 shares at $39.68 per share price. According to the SEC, on Nov 21, 2016, James W Gray (SEVP) sold 5,000 shares at $39.50 per share price. On Nov 21, 2016, Albert J Iii Dale (director) sold 2,031 shares at $39.42 per share price, according to the Form-4 filing with the securities and exchange commission.

Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance Inc. The Bank offers services including checking and savings accounts business and personal loans interim construction loans equipment leasing as well as safe deposit and night depository facilities. The Company operates in three segments: Community Banks segment which offers banking and financial services to individuals and small to medium-sized businesses including checking and savings accounts business and personal loans equipment leasing as well as safe deposit and night depository facilities; the Insurance segment which includes a full service insurance agency offering lines of commercial and personal insurance and the Wealth Management segment which offers fiduciary services which includes the administration and management of trust accounts including personal and corporate benefit accounts custodial accounts and others.

Renasant Corp.

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