These Analysts Boost Their Forecasts On Renasant Following Better-Than-Expected Q4 Earnings

Renasant Corporation RNST reported better-than-expected earnings for its fourth quarter, after the closing bell on Tuesday.

The company posted quarterly earnings of 73 cents per share which beat the analyst consensus estimate of 60 cents per share. The company reported quarterly sales of $167.10 million which missed the analyst consensus estimate of $167.42 million.

“The fourth quarter results marked the end to a successful year for Renasant. We announced a transformative merger with The First in July and, in the midst of diligently planning for a successful combination, our team maintained its focus on generating organic growth, disciplined pricing on both sides of the balance sheet and steady credit performance,” remarked C. Mitchell Waycaster, Chief Executive Officer of the Company.

Renasant shares closed at $37.85 on Wednesday.

These analysts made changes to their price targets on Renasant following earnings announcement.

Piper Sandler analyst Stephen Scouten maintained Renasant with an Overweight rating and raised the price target from $41 to $44.
Raymond James analyst Michael Rose reiterated the stock with an Outperform rating and raised the price target from $40 to $44.
Keefe, Bruyette & Woods analyst Catherine Mealor reiterated Renasant with an Outperform rating and increased the price target from $45 to $46.

Considering buying RNST stock? Here’s what analysts think: