Renasant Corp. was Downgraded to a Hold Rating at KBW

By Carrie Williams

Renasant Corp. (NASDAQ: RNST) received a Hold rating from KBW analyst Catherine Mealor today. The company’s shares closed yesterday at $40.34, close to its 52-week high of $41.81.

According to, Mealor is a 5-star analyst with an average return of 14.4% and a 76.9% success rate. Mealor covers the Financial sector, focusing on stocks such as Union First Market Bankshares Corp., American National Bankshares, and Eastern Virginia Bankshares.

Currently, the analyst consensus on Renasant Corp. is Moderate Buy and the average price target is $39.50, representing a -2.1% downside.

In a report released yesterday, Jefferies also downgraded the stock to Hold with a $41 price target.

Renasant Corp.’s market cap is currently $1.7B and has a P/E ratio of 18.94. The company has a book value ratio of 1.4869.

Based on the recent corporate insider activity of 86 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Niles Mcneel, a Director at RNST sold 10,346 shares for a total of $410,529.

Renasant Corp. is a bank holding company for Renasant Bank and offers a range of financial, fiduciary, and insurance services through its subsidiaries. It operates through the following segments: Community Banks, Insurance, Wealth Management, and Others. The Community Banks segment delivers a complete range of 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 includes full service insurance agency offering lines of commercial and personal insurance though 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 arrangements, and custodial accounts. The company was founded in 1982 and is headquartered in Tupelo, MS.