Keefe Bruyette analyst Catherine Mealor upgraded Renasant (RNST) to Outperform from Market Perform with a price target of $40, up from $36. The First Bancshares (FBMS) deal bolsters Renasant’s scale in “attractive higher growth markets” and improves its efficiency, the analyst tells investors in a research note. The firm says the bank’s pro forma capital and reserves are “best in class.”
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