Market Overview

UPDATE: Raymond James Downgrades Renasant


In a report published Thursday, Raymond James analyst Michael Rose downgraded Renasant (NASDAQ: RNST) to Market Perform from Outperform, changing its price target to NM from $31.00.

According to the report, the downgraded follows 4Q13 results. Given the reduction in the analyst's EPS estimates coupled with the proximity to their prior price target, they now view risk-reward as balanced.

“Despite our less constructive view on the stock, we continue to view its fundamental story positively given further expected improvement in credit metrics and related costs, better than peer core loan growth, projected positive operating leverage, and improving profitability as the earnings accretion from the First M&F acquisition is realized,” the report noted. “Moreover, we believe it could re-enter the M&A arena this year, sooner than the Street may be anticipating.”

Some highlights from the report included:

-4Q13 operating EPS above forecast -Payoffs impact loan growth -Fee income below forecast -NIM roughly in line with forecasts

RNST closed Wednesday at $30.14 with shares trading down at 2.55 percent.

Latest Ratings for RNST

Aug 2019MaintainsHold
Aug 2019Initiates Coverage OnNeutral
Jun 2019Initiates Coverage OnHold

View More Analyst Ratings for RNST
View the Latest Analyst Ratings

Posted-In: Michael Rose Raymond JamesAnalyst Color Downgrades Price Target Analyst Ratings


Related Articles (RNST)

View Comments and Join the Discussion!

Latest Ratings

HTHTDaiwa CapitalDowngrades
GSKNew StreetUpgrades
JNJCredit SuisseMaintains158.0
TDGCredit SuisseMaintains584.0
SCHWDeutsche BankReiterates35.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

Top Trending Tickers On StockTwits For January 23

UPDATE: Raymond James Downgrades Gol Linhas Aereas Inteligentes