Renasant Corporation operates as a bank holding company for Renasant Bank, which provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and equipment leasing services, as well as safe deposit and night depository facilities. It also provides commercial, financial, and agricultural loans; equipment financing and leasing; real estateÂ1-4 family mortgage; real estateÂcommercial mortgage; real estateÂconstruction loans for the construction of single family residential properties, multi-family properties, and commercial projects; installment loans to individuals; and interim construction loans, as well as automated teller machine (ATM), online and mobile banking, call center, and treasury management services. The Insurance segment provides insurance agency services, such as commercial and personal insurance products through insurance carriers. The Wealth Management segment offers range of wealth management and fiduciary services, including administration and management of trust accounts, such as personal and corporate benefit accounts, self-directed individual retirement accounts, and custodial accounts; annuities, mutual funds, and other investment services through a third party broker-dealer; and administers qualified retirement plans, profit sharing and other employee benefit plans, personal trusts, and estates. As of December 31, 2020, the company operated a network of 190 banking, lending, and mortgage offices located in Mississippi, Tennessee, Alabama, Florida, Georgia, North Carolina, and South Carolina; 157 full-service branches and 11 limited-service branches; 181 ATMs; and 32 interactive teller machines. Renasant Corporation was founded in 1904 and is headquartered in Tupelo, Mississippi.
IPO Year: 2023
Exchange: NASDAQ
Website: investors.renasant.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/13/2024 | Outperform → Market Perform | Hovde Group | |
| 8/5/2024 | $38.00 → $39.00 | Market Perform → Outperform | Hovde Group |
| 8/5/2024 | $34.00 → $40.00 | Neutral → Overweight | Piper Sandler |
| 7/31/2024 | $34.00 → $41.00 | Equal-Weight → Overweight | Stephens |
| 7/31/2024 | $39.00 | Mkt Perform → Outperform | Raymond James |
| 7/25/2024 | $36.00 → $38.00 | Outperform → Market Perform | Hovde Group |
| 4/6/2023 | Outperform → Mkt Perform | Raymond James | |
| 10/27/2022 | $41.00 | Mkt Perform → Outperform | Raymond James |
| 6/21/2022 | $34.00 | Market Perform → Outperform | Hovde Group |
| 2/24/2022 | $41.00 | Neutral → Buy | DA Davidson |
TUPELO, Miss., April 23, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Renasant Corporation (the "Company") implemented the next step of the Company's management succession plan, designating Kevin D. Chapman to become Chief Executive Officer of the Company and Renasant Bank (the "Bank") effective May 2025. Chapman will retain his current title and duties of President of both the Company and Bank. Over the next year, current Renasant CEO, C. Mitchell Waycaster will work with Chapman on the leadership transition; in May 2025, while stepping down from the CEO position, Waycaster will continue in his role as Executive Vice Chairman of the Company and the Bank. Chapman has been President
TUPELO, Miss., Nov. 14, 2024 (GLOBE NEWSWIRE) -- The board of directors of Renasant Corporation (NYSE:RNST) approved the payment of a quarterly cash dividend of twenty-two cents ($0.22) per share to be paid January 1, 2025, to shareholders of record as of December 18, 2024. ABOUT RENASANT CORPORATION:Renasant Corporation is the parent of Renasant Bank, a 120-year-old financial services institution. Renasant has assets of approximately $18.0 billion and operates 186 banking, lending, mortgage and wealth management offices throughout the Southeast as well as offering factoring and asset-based lending on a nationwide basis. For more information, please visit www.renasantbank.com or Renasant
TUPELO, Miss., Oct. 22, 2024 (GLOBE NEWSWIRE) -- Renasant Corporation (NYSE:RNST) (the "Company") today announced earnings results for the third quarter of 2024. (Dollars in thousands, except earnings per share)Three Months Ended Nine Months Ended Sep 30, 2024Jun 30, 2024Sep 30, 2023 Sep 30, 2024Sep 30, 2023Net income and earnings per share: Net income$72,455$38,846$41,833 $150,710$116,554 After-tax gain on sale of insurance agency 38,951 — — 38,951 — After-tax loss on sale of securities (including impairments) — — — — (17,859)Basic EPS 1.18 0.69 0.75 2.60 2.08 Diluted EPS 1.18 0.69 0.74 2.59 2.07 Adjusted diluted EPS (Non-GAAP)(1) 0.70 0.69 0.74 2.03 2.38 Impact to diluted EPS f
TUPELO, Miss., Oct. 08, 2024 (GLOBE NEWSWIRE) -- Renasant Corporation (NYSE:RNST) (the "Company") will announce 2024 third quarter results following the NYSE's closing on Tuesday, October 22, 2024. The Company will hold executive management's quarterly webcast and conference call with analysts on Wednesday, October 23, 2024, at 10:00 AM Eastern Time (9:00 AM Central Time). The webcast is accessible through Renasant's investor relations website at www.renasant.com or https://event.choruscall.com/mediaframe/webcast.html?webcastid=YvWBKrUB. To access the conference via telephone, dial 1-877-513-1143 in the United States and request the Renasant Corporation 2024 Third Quarter Earnings Webcast
TUPELO, Miss., Aug. 14, 2024 (GLOBE NEWSWIRE) -- The board of directors of Renasant Corporation (NYSE:RNST) approved the payment of a quarterly cash dividend of twenty-two cents ($0.22) per share to be paid September 30, 2024, to shareholders of record as of September 16, 2024. ABOUT RENASANT CORPORATION:Renasant Corporation is the parent of Renasant Bank, a 120-year-old financial services institution. Renasant has assets of approximately $17.5 billion and operates 185 banking, lending, mortgage and wealth management offices throughout the Southeast as well as offering factoring and asset-based lending on a nationwide basis. For more information, please visit www.renasantbank.com
TUPELO, Miss., July 31, 2024 (GLOBE NEWSWIRE) -- Renasant Corporation (NYSE:RNST) (the "Corporation") today announced that it has completed its public offering of an aggregate of 7,187,500 shares of its common stock (the "common stock") at a price of $32.00 per share, including 937,500 additional shares of common stock upon the exercise in full by the underwriters of their option to purchase additional shares. The aggregate gross proceeds were $230.0 million. The net proceeds of the offering after deducting underwriting discounts and other estimated offering expenses are expected to be approximately $217.0 million. The Corporation intends to use the net proceeds of the offering for general
TUPELO, Miss., July 29, 2024 (GLOBE NEWSWIRE) -- Renasant Corporation (NYSE:RNST) (the "Corporation") today announced the pricing of its public offering of 6,250,000 shares of its common stock (the "common stock"), at a price to the public of $32.00 per share, for an aggregate offering amount of $200.0 million. In addition, the Corporation has granted the underwriters a 30-day option to purchase up to an additional 937,500 shares of common stock at the public offering price, less underwriting discounts. Stephens Inc. acted as lead book-running manager for the offering, and Raymond James & Associates, Inc. acted as joint book-running manager for the offering. Janney Montgomery Scott
Announces Five-Year Community Benefit Plan Renasant Corporation (NYSE:RNST) ("Renasant") and The First Bancshares, Inc. ("The First") (NYSE:FBMS) jointly announced today that they have entered into a definitive agreement and plan of merger, pursuant to which The First will merge with and into Renasant (the "Merger") in an all-stock transaction valued at approximately $1.2 billion, based on Renasant's closing stock price as of July 26, 2024. The Merger has been approved unanimously by each company's board of directors and is expected to close in the first half of 2025. Completion of the transaction is subject to customary closing conditions, including the receipt of required regulatory app
TUPELO, Miss., July 23, 2024 (GLOBE NEWSWIRE) -- Renasant Corporation (NYSE:RNST) (the "Company") today announced earnings results for the second quarter of 2024. (Dollars in thousands, except earnings per share)Three Months Ended Six Months Ended Jun 30, 2024Mar 31, 2024Jun 30, 2023 Jun 30, 2024Jun 30, 2023Net income and earnings per share: Net income$38,846 $39,409 $28,643 $78,255 $74,721 After-tax loss on sale of securities — — (18,085) — (17,870)Basic EPS 0.69 0.70 0.51 1.39 1.33 Diluted EPS 0.69 0.70 0.51 1.38 1.33 Adjusted diluted EPS (Non-GAAP)(1) 0.69 0.65 0.83 1.33 1.64 Impact to diluted EPS from after-tax loss on sale of securities (including im
TUPELO, Miss., July 08, 2024 (GLOBE NEWSWIRE) -- Renasant Corporation (NYSE:RNST) (the "Company") will announce 2024 second quarter results following the NYSE's closing on Tuesday, July 23, 2024. The Company will hold executive management's quarterly webcast and conference call with analysts on Wednesday, July 24, 2024, at 10:00 AM Eastern Time (9:00 AM Central Time). The webcast is accessible through Renasant's investor relations website at www.renasant.com or https://event.choruscall.com/mediaframe/webcast.html?webcastid=4YF7gjk4. To access the conference via telephone, dial 1-877-513-1143 in the United States and request the Renasant Corporation 2024 Second Quarter Earnings Webcast and
TUPELO, Miss., July 02, 2024 (GLOBE NEWSWIRE) -- Renasant Corporation (NYSE:RNST) announced today that it has sold the assets of Renasant Insurance, Inc. to Sunstar Insurance Group, LLC ("Sunstar") effective as of July 1, 2024. Sunstar is a regionally focused, industry leading insurance broker, risk management consultant and provider of employee benefits coverages and other human capital solutions based in Memphis, Tennessee. With more than $1.2 billion in premiums placed, Sunstar is ranked as the 33rd largest independent insurance agency in the country. Sunstar's 700+ partners and employees operate from more than 50 offices in six states across the Southeast and Lower Midwest. The acquis
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TUPELO, Miss., Nov. 14, 2024 (GLOBE NEWSWIRE) -- The board of directors of Renasant Corporation (NYSE:RNST) approved the payment of a quarterly cash dividend of twenty-two cents ($0.22) per share to be paid January 1, 2025, to shareholders of record as of December 18, 2024. ABOUT RENASANT CORPORATION:Renasant Corporation is the parent of Renasant Bank, a 120-year-old financial services institution. Renasant has assets of approximately $18.0 billion and operates 186 banking, lending, mortgage and wealth management offices throughout the Southeast as well as offering factoring and asset-based lending on a nationwide basis. For more information, please visit www.renasantbank.com or Renasant
TUPELO, Miss., Oct. 08, 2024 (GLOBE NEWSWIRE) -- Renasant Corporation (NYSE:RNST) (the "Company") will announce 2024 third quarter results following the NYSE's closing on Tuesday, October 22, 2024. The Company will hold executive management's quarterly webcast and conference call with analysts on Wednesday, October 23, 2024, at 10:00 AM Eastern Time (9:00 AM Central Time). The webcast is accessible through Renasant's investor relations website at www.renasant.com or https://event.choruscall.com/mediaframe/webcast.html?webcastid=YvWBKrUB. To access the conference via telephone, dial 1-877-513-1143 in the United States and request the Renasant Corporation 2024 Third Quarter Earnings Webcast
TUPELO, Miss., Aug. 14, 2024 (GLOBE NEWSWIRE) -- The board of directors of Renasant Corporation (NYSE:RNST) approved the payment of a quarterly cash dividend of twenty-two cents ($0.22) per share to be paid September 30, 2024, to shareholders of record as of September 16, 2024. ABOUT RENASANT CORPORATION:Renasant Corporation is the parent of Renasant Bank, a 120-year-old financial services institution. Renasant has assets of approximately $17.5 billion and operates 185 banking, lending, mortgage and wealth management offices throughout the Southeast as well as offering factoring and asset-based lending on a nationwide basis. For more information, please visit www.renasantbank.com
Announces Five-Year Community Benefit Plan Renasant Corporation (NYSE:RNST) ("Renasant") and The First Bancshares, Inc. ("The First") (NYSE:FBMS) jointly announced today that they have entered into a definitive agreement and plan of merger, pursuant to which The First will merge with and into Renasant (the "Merger") in an all-stock transaction valued at approximately $1.2 billion, based on Renasant's closing stock price as of July 26, 2024. The Merger has been approved unanimously by each company's board of directors and is expected to close in the first half of 2025. Completion of the transaction is subject to customary closing conditions, including the receipt of required regulatory app
TUPELO, Miss., July 23, 2024 (GLOBE NEWSWIRE) -- Renasant Corporation (NYSE:RNST) (the "Company") today announced earnings results for the second quarter of 2024. (Dollars in thousands, except earnings per share)Three Months Ended Six Months Ended Jun 30, 2024Mar 31, 2024Jun 30, 2023 Jun 30, 2024Jun 30, 2023Net income and earnings per share: Net income$38,846 $39,409 $28,643 $78,255 $74,721 After-tax loss on sale of securities — — (18,085) — (17,870)Basic EPS 0.69 0.70 0.51 1.39 1.33 Diluted EPS 0.69 0.70 0.51 1.38 1.33 Adjusted diluted EPS (Non-GAAP)(1) 0.69 0.65 0.83 1.33 1.64 Impact to diluted EPS from after-tax loss on sale of securities (including im
TUPELO, Miss., July 08, 2024 (GLOBE NEWSWIRE) -- Renasant Corporation (NYSE:RNST) (the "Company") will announce 2024 second quarter results following the NYSE's closing on Tuesday, July 23, 2024. The Company will hold executive management's quarterly webcast and conference call with analysts on Wednesday, July 24, 2024, at 10:00 AM Eastern Time (9:00 AM Central Time). The webcast is accessible through Renasant's investor relations website at www.renasant.com or https://event.choruscall.com/mediaframe/webcast.html?webcastid=4YF7gjk4. To access the conference via telephone, dial 1-877-513-1143 in the United States and request the Renasant Corporation 2024 Second Quarter Earnings Webcast and
TUPELO, Miss., April 23, 2024 (GLOBE NEWSWIRE) -- Renasant Corporation (NYSE:RNST) (the "Company") today announced earnings results for the first quarter of 2024. (Dollars in thousands, except earnings per share)Three Months Ended Mar 31, 2024Dec 31, 2023Mar 31, 2023Net income and earnings per share: Net income$39,409 $28,124 $46,078 After-tax loss on sale of securities — (15,711) — Basic EPS 0.70 0.50 0.82 Diluted EPS 0.70 0.50 0.82 Adjusted diluted EPS (Non-GAAP)(1) 0.65 0.76 0.82 Impact to diluted EPS from after-tax loss on sale of securities (including impairments) — 0.28 — "The quarter's results reflect solid performance across the company, including good loa
TUPELO, Miss., April 11, 2024 (GLOBE NEWSWIRE) -- The board of directors of Renasant Corporation (NYSE:RNST) approved the payment of a quarterly cash dividend of twenty-two cents ($0.22) per share to be paid June 28, 2024, to shareholders of record as of June 14, 2024. ABOUT RENASANT CORPORATION:Renasant Corporation is the parent of Renasant Bank, a 120-year-old financial services institution. Renasant has assets of approximately $17.4 billion and operates 195 banking, lending, mortgage, wealth management and insurance offices throughout the Southeast as well as offering factoring and asset-based lending on a nationwide basis. For more information, please visit www.renasantbank.com o
TUPELO, Miss., April 03, 2024 (GLOBE NEWSWIRE) -- Renasant Corporation (NYSE:RNST) (the "Company") will announce 2024 first quarter results following the NYSE's closing on Tuesday, April 23, 2024. The Company will hold executive management's quarterly webcast and conference call with analysts on Wednesday, April 24, 2024, at 10:00 AM Eastern Time (9:00 AM Central Time). The webcast is accessible through Renasant's investor relations website at www.renasant.com or https://event.choruscall.com/mediaframe/webcast.html?webcastid=YbP0Ll7b. To access the conference via telephone, dial 1-877-513-1143 in the United States and request the Renasant Corporation 2024 First Quarter Earnings Webc
TUPELO, Miss., Feb. 16, 2024 (GLOBE NEWSWIRE) -- The board of directors of Renasant Corporation (NYSE:RNST) approved the payment of a quarterly cash dividend of twenty-two cents ($0.22) per share to be paid March 29, 2024, to shareholders of record as of March 15, 2024. ABOUT RENASANT CORPORATION:Renasant Corporation is the parent of Renasant Bank, a 119-year-old financial services institution. Renasant has assets of approximately $17.4 billion and operates 195 banking, lending, mortgage, wealth management and insurance offices throughout the Southeast as well as offering factoring and asset-based lending on a nationwide basis. For more information, please visit www.renasantbank.com or R
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page. Baird increased Apple Inc. (NASDAQ:AAPL) price target from $200 to $240. Baird analyst William Power maintained an Outperform rating. Apple shares fell 0.1% to trade at $218.51 on Thursday. See how other analysts view this stock. Truist Securities raised the price target for ServiceNow, Inc. (NYSE:NOW) from $750 to $780. Truist Securities analyst Joel Fishbein maintained a Hold rating. ServiceNow shares gained 11.9% to trade at $817.75 on Thursday. See how other analysts view this stock. JP Morg
Truist Securities analyst Brandon King maintains Renasant (NYSE:RNST) with a Hold and raises the price target from $32 to $38.
4 analysts have shared their evaluations of Renasant (NYSE:RNST) during the recent three months, expressing a mix of bullish and bearish perspectives. In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 0 0 4 0 0 Last 30D 0 0 1 0 0 1M Ago 0 0 3 0 0 2M Ago 0 0 0 0 0 3M Ago 0 0 0 0 0 Analysts have recently evaluated Renasant and provided 12-month price targets. The average target is $33.75, accompanied by a high estimate of $36.00 and a low estimate of $32.00. This current average reflec
Keefe, Bruyette & Woods analyst Catherine Mealor maintains Renasant (NYSE:RNST) with a Market Perform and raises the price target from $34 to $36.
Renasant (NYSE:RNST) reported quarterly earnings of $0.69 per share which beat the analyst consensus estimate of $0.66 by 4.55 percent. The company reported quarterly sales of $163.788 million which missed the analyst consensus estimate of $166.019 million by 1.34 percent. This is a 11.09 percent increase over sales of $147.442 million the same period last year.
Truist Securities analyst Brandon King maintains Renasant (NYSE:RNST) with a Hold and lowers the price target from $33 to $32.
Piper Sandler analyst Stephen Scouten maintains Renasant (NYSE:RNST) with a Neutral and maintains $33 price target.
Keefe, Bruyette & Woods analyst Catherine Mealor maintains Renasant (NYSE:RNST) with a Market Perform and maintains $34 price target.
Renasant (NYSE:RNST) reported quarterly earnings of $0.65 per share which beat the analyst consensus estimate of $0.63 by 3.17 percent. The company reported quarterly sales of $164.671 million which beat the analyst consensus estimate of $163.596 million by 0.66 percent. This is a 4.85 percent decrease over sales of $173.068 million the same period last year.
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Hovde Group downgraded Renasant from Outperform to Market Perform
Hovde Group upgraded Renasant from Market Perform to Outperform and set a new price target of $39.00 from $38.00 previously
Piper Sandler upgraded Renasant from Neutral to Overweight and set a new price target of $40.00 from $34.00 previously
Stephens upgraded Renasant from Equal-Weight to Overweight and set a new price target of $41.00 from $34.00 previously
Raymond James upgraded Renasant from Mkt Perform to Outperform and set a new price target of $39.00
Hovde Group downgraded Renasant from Outperform to Market Perform and set a new price target of $38.00 from $36.00 previously
Raymond James downgraded Renasant from Outperform to Mkt Perform
Raymond James upgraded Renasant from Mkt Perform to Outperform and set a new price target of $41.00
Hovde Group upgraded Renasant from Market Perform to Outperform and set a new price target of $34.00
DA Davidson upgraded Renasant from Neutral to Buy and set a new price target of $41.00