La catena delle opzioni mostra i dati chiave delle opzioni azionarie di Renasant a vari prezzi di esercizio e date di scadenza. I trader utilizzano queste informazioni per analizzare potenziali operazioni e valutare il sentiment del mercato per Renasant..

Renasant (NYSE:RNST) Azioni, Catena delle Opzioni

Renasant

Renasant Corp operates as a holding company for Renasant Bank, a Mississippi banking corporation, and its subsidiary, Renasant Insurance, Inc. It has three reportable segments: community banks, insurance, and wealth management. With its community banks segment, the company provides a range of financial services to individuals and small businesses. Its insurance segment is an insurance agency providing commercial and personal insurance through third-party carriers. The wealth management segment provides a range of services including money management and retirement planning. The majority of the company's revenue is driven by lending activities in its community banks segment. Renasant Corporation operates in the southern United States.

Renasant Corp

U.S. stocks were lower, with the Dow Jones index falling around 200 points on Wednesday.
Shares of Texas Instruments Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) rose sharply during Wednesday's session following <a href="https://www.benzinga.com/quote/TXN/earnings">better-than-expected third-quarter financial results.</a>
Texas Instruments reported quarterly earnings of $1.47 per share, which beat the analyst consensus estimate of $1.37. Quarterly revenue of $4.151 billion beat the consensus estimate of $4.12 billion.
Texas Instruments shares surged 4.3% to $202.30 on Wednesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Stride, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LRN#NYSE">LRN</a>) shares climbed 31% to $84.49 after the company reported better-than-expected first-quarter financial results and issued FY25 and Q2 revenue guidance above estimates.</li>
<li>Upwork Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPWK#NASDAQ">UPWK</a>) gained 24.4% to $12.50 after the company reported preliminary third-quarter revenue guidance above estimates. Also, the company announced organizational changes including a workforce reduction.</li>
<li>Vicor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VICR#NASDAQ">VICR</a>) gained 18.3% to $51.43 after the company reported better-than-expected third-quarter financial results.</li>
<li>John Bean Technologies Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBT#NYSE">JBT</a>) surged 11.7% to $106.36 after the company reported better-than-expected third-quarter adjusted EPS and sales.</li>
<li>Valmont Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VMI#NYSE">VMI</a>) gained 10.6% to $326.14 following upbeat quarterly earnings.</li>
<li>Daqo New Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DQ#NYSE">DQ</a>) climbed 8.9% to $22.67.</li>
<li>Lithia Motors, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAD#NYSE">LAD</a>) gained 8.9% to $331.58 following better-than-expected quarterly earnings.</li>
<li>Northern Trust Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTRS#NASDAQ">NTRS</a>) surged 7.5% to $103.00 after the company reported better-than-expected quarterly financial results.</li>
<li>East West Bancorp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWBC#NASDAQ">EWBC</a>) rose 7.5% to $97.14 following upbeat earnings.</li>
<li>Packaging Corporation of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKG#NYSE">PKG</a>) gained 5.8% to $229.32 after the company reported better-than-expected quarterly financial results.</li>
<li>Renasant Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNST#NYSE">RNST</a>) surged 5.5% to $34.25 following strong quarterly results.</li>
<li>ImmunityBio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBRX#NASDAQ">IBRX</a>) gained 5% to $3.6600. EF Hutton analyst Jason Kolbert initiated coverage on ImmunityBio with a Buy rating and announced a price target of $30.</li>
<li>Teledyne Technologies Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDY#NYSE">TDY</a>) gained 4.2% to $461.94 after reporting strong quarterly earnings.</li>
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Texas Instruments Posts Strong Q3 Results, Joins Valmont Industries, Lithia Motors, Teledyne Technologies And Other Big Stocks Moving Higher On Wednesday

WIIM

Renasant shares are trading higher after the company reported better-than-expected Q3 financial results.

Renasant (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNST#NYSE">RNST</a>) reported quarterly earnings of $0.70 per share which beat the analyst consensus estimate of $0.63 by 11.11 percent. This is a 5.41 percent decrease over earnings of $0.74 per share from the same period last year. The company reported quarterly sales of $220.297 million which beat the analyst consensus estimate of $173.482 million by 26.99 percent. This is a 32.54 percent increase over sales of $166.210 million the same period last year.

Earnings

Earnings Beats

Renasant Q3 2024 Adj. EPS $0.70 Beats $0.63 Estimate, Sales $220.297M Beat $173.482M Estimate

Renasant (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNST#NYSE">RNST</a>) is set to give its latest quarterly earnings report on Tuesday, 2024-10-22. Here's what investors need to know before the announcement.
Analysts estimate that Renasant will report an earnings per share (EPS) of $0.63. 
The announcement from Renasant is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.
It's worth noting for new investors that guidance can be a key determinant of stock price movements.
<h3>Overview of Past Earnings</h3>
During the last quarter, the company reported an EPS beat by $0.03, leading to a 2.15% drop in the share price on the subsequent day.
Here's a look at Renasant's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.66</td>
<td>0.62</td>
<td>0.64</td>
<td>0.69</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.69</td>
<td>0.65</td>
<td>0.76</td>
<td>0.75</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-2.0%</td>
<td>0.0%</td>
<td>1.0%</td>
<td>3.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729537256_0_0.png" alt="eps graph" />
<h3>Renasant Share Price Analysis</h3>
Shares of Renasant were trading at $33.67 as of October 18. Over the last 52-week period, shares are up 37.02%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/RNST/earnings">To track all earnings releases for Renasant visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

An Overview of Renasant's Earnings

In the last three months, 10 analysts have published ratings on Renasant (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNST#NYSE">RNST</a>), offering a diverse range of perspectives from bullish to bearish.
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.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for Renasant, presenting an average target of $36.9, a high estimate of $41.00, and a low estimate of $32.00. Observing a 7.83% increase, the current average has risen from the previous average price target of $34.22. 
<img src="https://www.benzinga.com/files/images/story/2024/1726866068_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
The standing of Renasant among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Brandon King</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$37.00</td>
<td>$38.00</td>
</tr>
<tr>
<td>Stephen Scouten</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$40.00</td>
<td>$34.00</td>
</tr>
<tr>
<td>Catherine Mealor</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Outperform</td>
<td>$40.00</td>
<td>$36.00</td>
</tr>
<tr>
<td>Matt Olney</td>
<td>Stephens &amp; Co.</td>
<td>Raises</td>
<td>Overweight</td>
<td>$41.00</td>
<td>$34.00</td>
</tr>
<tr>
<td>David Bishop</td>
<td>Hovde Group</td>
<td>Announces</td>
<td>Market Perform</td>
<td>$38.00</td>
<td>-</td>
</tr>
<tr>
<td>Brandon King</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$38.00</td>
<td>$32.00</td>
</tr>
<tr>
<td>Catherine Mealor</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$36.00</td>
<td>$34.00</td>
</tr>
<tr>
<td>Brandon King</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$32.00</td>
<td>$33.00</td>
</tr>
<tr>
<td>Stephen Scouten</td>
<td>Piper Sandler</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$33.00</td>
<td>$33.00</td>
</tr>
<tr>
<td>Catherine Mealor</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Maintains</td>
<td>Market Perform</td>
<td>$34.00</td>
<td>$34.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Renasant. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Renasant compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for Renasant's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Renasant's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/RNST/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Renasant analyst ratings.</a>
<h2>About Renasant</h2>
Renasant Corp operates as a holding company for Renasant Bank, a Mississippi banking corporation, and its subsidiary, Renasant Insurance, Inc. It has three reportable segments: community banks, insurance, and wealth management. With its community banks segment, the company provides a range of financial services to individuals and small businesses. Its insurance segment is an insurance agency providing commercial and personal insurance through third-party carriers. The wealth management segment provides a range of services including money management and retirement planning. The majority of the company's revenue is driven by lending activities in its community banks segment. Renasant Corporation operates in the southern United States.
<h3>Financial Insights: Renasant</h3>
Market Capitalization: Boasting an elevated market capitalization, the company surpasses industry averages. This signals substantial size and strong market recognition.
Revenue Growth: Renasant's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 11.09%. This indicates a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Financials sector.
Net Margin: Renasant's net margin excels beyond industry benchmarks, reaching 23.72%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Renasant's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 1.66% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): Renasant's ROA excels beyond industry benchmarks, reaching 0.22%. This signifies efficient management of assets and strong financial health.
Debt Management: With a below-average debt-to-equity ratio of 0.28, Renasant adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

A Closer Look at 10 Analyst Recommendations For Renasant

Truist Securities analyst Brandon King maintains Renasant (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNST#NYSE">RNST</a>) with a Hold and lowers the price target from $38 to $37.

Price Target

Truist Securities Maintains Hold on Renasant, Lowers Price Target to $37

The merger and acquisitions (M&amp;A) activity among the U.S. regional banks is showing signs of a rebound this year following subdued 2023. More regional banks are resorting to M&amp;As to strengthen their balance sheets amid enhanced competitiveness for low-cost deposits.&nbsp;
Per Dealogic data, regional banks with assets between $10 billion and $100 billion have completed 38 deals year to date. This exceeds the 29 deals recorded during the same period last year.
Since last year, the regional banking sector has been under tremendous strain as elevated interest rates reduced borrowing, raised competition for deposits and led to bigger losses on commercial real estate loans.
The banks are now expanding inorganically despite regulatory hurdles.
Per S&amp;P Global Market Intelligence data, year to date through Jul 31, 2024, 67 U.S. bank deals for $9.25 billion were disclosed, exceeding the total deal value of $8.95 billion and $4.15 billion announced in 2022 and 2023, respectively.
<img alt="S&amp;P Global market Intelligence" src="https://staticx-tuner.zacks.com/images/articles/charts/8a/75086.jpg?v=827432984" />
<h2>3 Largest Banks Deals (in terms of value) Announced in 2024</h2>
In May, SouthState Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ssb#NYSE">SSB</a>) agreed to buy McKinney, TX-based Independent Bank Group in an all-stock transaction valued at nearly $2.02 billion. This became the biggest M&amp;A deal announced by deal value year to date. Following the acquisition, the combined company will have total assets of nearly $65 billion. With this deal (expected to close by the end of first-quarter 2025), SSB expects earnings accretion of 27.3% by 2025.
In April, UMB Financial Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/umbf#NASDAQ">UMBF</a>) announced it would acquire Heartland Financial, USA Inc. in an all-stock deal valued at around $2 billion. The deal will mark UMBF&#39;s largest acquisition in its 111-year history, increasing total assets by more than 40% to $64.5 billion. It is likely to close in first-quarter 2025.
Renasant Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rnst#NYSE">RNST</a>) and The First Bancshares Inc jointly entered into a merger agreement in July. Per the agreement, The First Bancshares will merge into RNST for an all-stock consideration of $1.2 billion The merger, expected to wrap up by first-half 2025, will result in a six-state Southeastern banking franchise with nearly $25 billion in total assets.
<h2>Reasons Behind Increased Regional Bank M&amp;As</h2>
The rise in the M&amp;As is being driven by strong market activity, thanks to a stabilizing macroeconomic environment, the expectation of interest rate cuts, and a large surplus available to both corporate and financial sponsor investors after subduing last year&#39;s M&amp;As.
Regional banks are resorting to M&amp;As as these help them gain access to low-cost deposits, a key source of funding. In April, at the time of announcing the transaction to acquire Heartland, UMBF CEO Mariner Kemper stated former&#39;s low-cost deposit base was attractive and that such deals would allow lenders to expand into new states and access more depositors. &nbsp;
Many U.S. banks have high exposure to commercial real estate (CRE) loans, making their loan portfolio risky. Thus, banks are resorting to diversifying their loan portfolio through M&amp;As. This enables banks to optimize their portfolio by reducing risks of dependency on one loan category.
<h2>Regulatory Headwinds</h2>
While M&amp;As could support struggling smaller lenders, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency have proposed new regulations that will give greater scrutiny to large transactions.
Bank regulators assess how transactions may impact systemic risk, competitiveness, and the needs of impacted communities. Occasionally, the Justice Department provides antitrust advice.&nbsp;
This year, regulators have suggested stricter merger regulations, particularly for consolidations that result in banks with assets of more than $50 billion, to guarantee that mergers do not raise systemic concerns.&nbsp;
This came after New York Community Bancorp, Inc.&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nycb#NYSE">NYCB</a>) buyout of parts of failed Signature Bank in early 2023 (immediately after acquiring Flagstar Bancorp in December 2022). The acquisition pushed NYCB above the $100-billion threshold in assets, which by law puts it under increased regulatory scrutiny. This contributed to its troubles as it faced higher reserve build because of an increase in its CRE loan portfolio.
<h2>Parting Thoughts</h2>
With an improving macroeconomic backdrop, an indication of a rate cut beginning in September paints a favorable picture for more M&amp;As in the coming period. As interest rates and the macroeconomic scenario improve, balance sheets will be better able to support inorganic expansion, leading to more such activity. &nbsp;
With Treasury yields declining, regional banks that postponed transactions to avoid realizing losses on their securities holdings when yields were high are expected to consider M&amp;As to expand and diversify revenues and footprint.
<a href="https://www.zacks.com/stock/news/2325842/regional-banks-ramp-up-m-a-deals-to-strengthen-balance-sheet?cid=CS-BENZ-FT-analyst_blog|industry_focus-2325842">To read this article on Zacks.com click here.</a>

Mid Cap

Real Estate

NYCB

UMBF

Regional Banks Ramp Up M&A Deals to Strengthen Balance Sheet

Renasant Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNST#NYSE">RNST</a>) shares tanked in early trading on Monday, a week after announcing <a href="https://www.benzinga.com/news/24/07/40046794/why-renasant-corporation-rnst-stock-is-falling">a public offering of 6.25 million shares</a>.
The First Bancshares Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBMS#NYSE">FBMS</a>) deal announcement and the common equity raise of $230 million "significantly changes the forward trajectory" for Renasant, according to Piper Sandler.
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5980a787c1f5580001cf4129/stephen-scouten">Analyst Stephen Scouten</a> upgraded the rating for Renasant from Neutral to Overweight, while raising the price target from $35 to $40.
The Renasant Thesis: While Renasant paid a heavy price for the deal, including the significant discount on the common equity raise, this was a necessary for the company to "move into a higher tier of scale and profitability," Scouten said in the upgrade note.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
The First Bancshares franchise fits well with Renasant and the "lower cost of deposits at FBMS puts the proforma entity in a higher tier from a NIM perspective," he added.
"Most importantly, we think the additional scale, and the potential for cost saves with the deal changes the narrative around RNST," the analyst wrote.
"The company believes that the ~14% TBVPS dilution will be earned back in ~3.5 years, and while we calculate north of four years, we still think that the uptick in profitability puts the bank on a better path moving fwd," he further stated.
RNST Price Action: Shares of Renasant had declined by 3.66% to $32.15 at the time of publication on Monday.
Photo: Shutterstock

Analyst Color

Long Ideas

Upgrades

FBMS

Renasant Is On A 'Better Path' After The FBMS Deal, Says Bullish Analyst

Hovde Group analyst David Bishop upgrades Renasant (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNST#NYSE">RNST</a>) from Market Perform to Outperform.

Hovde Group Upgrades Renasant to Outperform

Piper Sandler analyst Stephen Scouten upgrades Renasant (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNST#NYSE">RNST</a>) from Neutral to Overweight and raises the price target from $34 to $40.

Piper Sandler Upgrades Renasant to Overweight, Raises Price Target to $40

Wintrust Financial Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wtfc#NASDAQ">WTFC</a>) has closed the all-stock deal to acquire Macatawa Bank Corporation for $510.3 million or $14.85 per share. The merger agreement, which is not expected to have a material effect on Wintrust&#39;s 2024 earnings, was signed this April.
Headquartered in Holland, MI, Macatawa operates a network of 26 full-service branches located throughout communities in Kent, Ottawa and northern Allegan counties, including Grand Rapids.
As of Jun 30, 2024, Macatawa Bank had $2.7 billion in assets, $2.3 billion in deposits and $1.3 billion in loans. Its approach to customer service is similar to that at each of the fifteen other Wintrust Community Banks and their more than 170 banking locations.
Per the terms of the deal, at the time of the merger, each of Macatawa&#39;s 34,361,562 common shares outstanding were to be converted into the right to receive merger consideration paid in shares of Wintrust common stock.
Accordingly, each of Macatawa&#39;s common shares outstanding was converted into the right to receive 0.137 shares of Wintrust common stock, with cash paid in lieu of fractional shares.
Timothy S. Crane, the president and CEO of Wintrust, stated, &quot;Macatawa Bank provides an ideal platform to expand into West Michigan with a very solid bank. The bank has a strong core deposit base, exceptional asset quality, a client focused culture, and a committed leadership team. Together, we will be a formidable, community-minded competitor to the other banks in the area. We look forward to providing Macatawa Bank&#39;s customers with an expanded array of products and services and are thrilled to welcome Macatawa Bank clients and team members to the Wintrust family.&quot;
The chairman of Macatawa, Richard L. Postma, said, &quot;Wintrust provides Macatawa Bank with the ability to retain and enhance its uniquely personalized consumer and commercial community presence in the West Michigan area by retaining the Macatawa Bank name, its key employees, branches, and a legally constituted community bank board, as a separately chartered bank and the only Wintrust subsidiary bank located within the State of Michigan. We are confident that this transaction, which combines similar cultures and operating philosophies, will result in a continued community bank that offers all the enhanced services, products and technology of Wintrust to meet the evolving banking needs of our customers.&quot;
Over the past six months, WTFC shares have gained 13.6% compared with the industry&#39;s 23.6% growth.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/1a/73175.jpg?v=1777469635" />
Image Source: Zacks Investment Research
Currently, WTFC carries a Zacks Rank #3 (Hold).
<h3>Inorganic Growth Efforts by Other Finance Firms</h3>
A few days ago, Renasant Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rnst#NYSE">RNST</a>) and The First Bancshares Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fbms#NYSE">FBMS</a>) jointly entered a merger agreement. Per the agreement, First Bancshares will merge into Renasant for an all-stock consideration of $1.2 billion, based on the latter&#39;s closing stock price of $37.09 as of Jul 26, 2024.
Under the terms of the agreement, shareholders of First Bancshares will get one share of RNST&#39;s common stock for each of their shares. Moreover, all options of First Bancshares will be cashed out at their in-the-money value upon the closure of the deal.
The deal, which is expected to be closed by the first half of 2025, has been approved by the shareholders of both companies and awaits requisite regulatory approvals.
Last month, Eastern Bankshares Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ebc#NASDAQ">EBC</a>) completed its merger with Cambridge Bancorp. The deal, announced in September 2023 with a 100% stock consideration, aligns with the company&#39;s inorganic growth strategy.
The merged private banking and wealth management divisions will work under the brand and leadership of Cambridge Trust as it has a distinct presence in its peer local markets. Other areas of the merged bank, including Commercial, Business and Consumer Banking, will operate under EBC&#39;s brand name.
<a href="https://www.zacks.com/stock/news/2315555/wintrust-wtfc-completes-acquisition-of-macatawa-for-510-3m?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2315555">To read this article on Zacks.com click here.</a>

Small Cap

WTFC

Wintrust Completes Acquisition of Macatawa for $510.3M

Keefe, Bruyette &amp; Woods analyst Catherine Mealor upgrades Renasant (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNST#NYSE">RNST</a>) from Market Perform to Outperform and raises the price target from $36 to $40.

Keefe, Bruyette & Woods Upgrades Renasant to Outperform, Raises Price Target to $40

Stephens &amp; Co. analyst Matt Olney upgrades Renasant (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNST#NYSE">RNST</a>) from Equal-Weight to Overweight and raises the price target from $34 to $41.

Stephens & Co. Upgrades Renasant to Overweight, Raises Price Target to $41

Renasant Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNST#NYSE">RNST</a>) shares are trading lower by 4.95% to $34.17 during Tuesday&#8217;s session after the company announced a public offering of 6.25 million shares of common stock at $32.00 per share, <a href="https://www.benzinga.com/pressreleases/24/07/g40023960/renasant-corporation-announces-pricing-of-200-million-offering-of-common-stock">totaling $200 million</a>. They have also granted underwriters a 30-day option to buy up to an additional 937,500 shares.
The net proceeds are expected to be around $190 million and will be used for general corporate purposes, including growth investments and strategic acquisitions.
Read Also: <a href="https://www.benzinga.com/news/earnings/24/07/40034498/fintech-giant-paypals-q2-earnings-revenue-and-eps-beat-payment-volumes-and-transactions-surge-guida">Fintech Giant PayPal&#8217;s Q2 Earnings: Revenue And EPS Beat, Payment Volumes And Transactions Surge, Guidance Boost</a>
<h2 class="wp-block-heading">How To Buy RNST Stock</h2>
Besides going to a brokerage platform to purchase a share &#8211; or fractional share &#8211; of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument. 
For example, in Renasant&#8217;s case, it is in the Financials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, RNST has a 52-week high of $37.40 and a 52-week low of $22.99.

Why Renasant Corporation (RNST) Stock Is Falling

Renasant shares are trading lower after the company announced the pricing of a $200 million offering of 6.25 million shares at $32 per share.

Offerings

Renasant Corporation Prices 6,250,000 Share Offering At $32/Share For Aggregate Amount Of $200M

According to the terms of the merger agreement, shareholders of The First will receive 1.00 share of Renasant common stock for each share of The First common stock. Additionally, all options of The First will be cashed out at their in-the-money value at closing. Based on Renasant's closing stock price of $37.09 per share as of July 26, 2024, the implied transaction value is approximately $37.09 per The First share, or $1.2 billion, in the aggregate. Excluding one-time transaction costs, the merger is expected to be immediately accretive to Renasant's estimated earnings per share and to have a positive long-term impact on Renasant's key profitability and operating ratios.
 &nbsp;

Renasant Corporation To Acquire The First Bancshares, Inc. In All-Stock Transaction Valued At ~$1.2B; Shareholders Of The First Will Receive 1 Renasant Common share For Each Share Of The First Common Stock

Hovde Group analyst David Bishop downgrades Renasant (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNST#NYSE">RNST</a>) from Outperform to Market Perform and announces $38 price target.

Downgrades

Hovde Group Downgrades Renasant to Market Perform, Announces $38 Price Target

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 <a href="https://www.benzinga.com/analyst-ratings/">analyst ratings page</a>.
<ul>
<li>Baird increased Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) 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. <a href="https://www.benzinga.com/quote/AAPL/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Truist Securities raised the price target for ServiceNow, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) 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. <a href="https://www.benzinga.com/quote/NOW/analyst-ratings">See how other analysts view this stock.</a></li>
<li>JP Morgan cut the price target for Illinois Tool Works Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITW#NYSE">ITW</a>) from $275 to $267. JP Morgan analyst Tami Zakaria maintained an Overweight rating. Illinois Tool Works shares gained 1.4% to trade at $242.61 on Thursday. <a href="https://www.benzinga.com/quote/ITW/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Cantor Fitzgerald raised the price target for HCA Healthcare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HCA#NYSE">HCA</a>) from $335 to $392. Cantor Fitzgerald analyst Sarah James maintained an Overweight rating. HCA Healthcare shares rose 2.6% to trade at $352.73 on Thursday. <a href="https://www.benzinga.com/quote/HCA/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Stifel boosted Thermo Fisher Scientific Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMO#NYSE">TMO</a>) price target from $600 to $615. Stifel analyst Daniel Arias maintained a Buy rating. Thermo Fisher Scientific shares rose 3.3% to trade at $593.57 on Thursday. <a href="https://www.benzinga.com/quote/TMO/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Oppenheimer raised the price target for AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) from $21 to $23. Oppenheimer analyst Timothy Horan maintained an Outperform rating. AT&amp;T shares rose 2.1% to trade at $19.56 on Thursday. <a href="https://www.benzinga.com/quote/T/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Keefe, Bruyette &amp; Woods raised Renasant Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNST#NYSE">RNST</a>) price target from $34 to $36. Keefe, Bruyette &amp; Woods analyst Catherine Mealor maintained a Market Perform rating. Renasant shares fell 1% to trade at $35.55 on Thursday. <a href="https://www.benzinga.com/quote/RNST/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Canaccord Genuity boosted Boston Scientific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>) price target from $83 to $88. Canaccord Genuity analyst William Plovanic maintained a Buy rating. Boston Scientific shares fell 1.6% to trade at $76.53 on Thursday. <a href="https://www.benzinga.com/quote/BSX/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Barclays cut NICE Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NICE#NASDAQ">NICE</a>) price target from $320 to $286. Barclays analyst Tavy Rosner maintained an Overweight rating. NICE shares gained 0.6% to trade at $181.99 on Thursday. <a href="https://www.benzinga.com/quote/NICE/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Baird cut Amphenol Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APH#NYSE">APH</a>) price target from $72 to $70. Baird analyst Luke Junk maintained an Outperform rating. Amphenol shares rose 0.2% to trade at $62.12 on Thursday. <a href="https://www.benzinga.com/quote/APH/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39954998/over-1m-bet-on-united-security-bancshares-check-out-these-3-stocks-insiders-are-buying">Over $1M Bet On United Security Bancshares? Check Out These 3 Stocks Insiders Are Buying</a></li>
</ul>

AAPL

NICE

Apple To Rally Around 10%? Here Are 10 Top Analyst Forecasts For Thursday

Truist Securities analyst Brandon King maintains Renasant (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNST#NYSE">RNST</a>) with a Hold and raises the price target from $32 to $38.

Truist Securities Maintains Hold on Renasant, Raises Price Target to $38

In a report released today, Stephen Scouten from Piper Sandler upgraded Renasant (RNST – Research Report) to a Buy, with a price target of $40.00. ...

Buy Rating Affirmed on Renasant Following Strategic Acquisition of First Bancshares

Renasant gets another upgrade on back of First Bancshares deal

Renasant Corporation declares $0.22 dividend

An announcement from Renasant (RNST) is now available. Renasant Corporation is set to engage investors with presentations at various conferences in...

Renasant to Share Future Strategy at Investor Conferences

In a report released yesterday, Brandon King from Truist Financial maintained a Hold rating on Renasant (RNST – Research Report), with a price targ...

Truist Financial Sticks to Its Hold Rating for Renasant (RNST)

Reports Q3 tangible book value per share $26.02. Reports Q3 CET1 capital ratio 12.88%. "The financial results for the quarter reflect solid perform...

Renasant reports Q3 adjusted EPS 70c, consensus 63c

Renasant ( ($RNST) ) has shared an announcement. Renasant Corporation's third quarter of 2024 saw strong earnings, with net income reaching $72.5 m...

Renasant Reports Strong Q3 Earnings and Announces Merger

In a report released today, John Rodis from Janney Montgomery maintained a Hold rating on Renasant (RNST – Research Report). The company's shares c...

Janney Montgomery Remains a Hold on Renasant (RNST)

Renasant Corporation 2024 Q3 - Results - Earnings Call Presentation

KBW analyst Catherine Mealor maintained a Buy rating on Renasant (RNST – Research Report) today and set a price target of $40.00. The company's sha...

KBW Keeps Their Buy Rating on Renasant (RNST)

KITT

Press Releases

Renasant Corporation Announces Closing of Common Stock Offering

THE FIRST BANCSHARES INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of The First Bancshares, Inc. - FBMS

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