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Renasant Corp. (RNST)
NYSE:RNST
Earnings Data
Report Date
Apr 29, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.5Last Year’s EPS
0.7Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Jan 28, 2025
|% Change Since: -2.03%
|Next Earnings Date:Apr 29, 2025
Earnings Call Sentiment|Positive
Renasant displayed strong financial performance in the fourth quarter, with significant loan and deposit growth, positive asset quality trends, and a promising outlook for the merger with The First. However, challenges include decreased non-interest income due to lack of one-time gains, increased operational losses, and continued credit loss provisions.Company Guidance
During the Renasant Corporation 2024 Fourth Quarter and Year-End Earnings Conference Call, the company provided guidance on various financial metrics. Renasant reported earnings of $44.7 million or $0.70 per diluted share, with net interest income increasing to $135.5 million, driven by a $257 million growth in loans. Deposit growth was robust, with interest-bearing deposits increasing by $189 million and total deposits by $63 million, after a reduction in brokered deposits. Non-interest income saw a decrease, primarily due to the absence of a $53.3 million gain from the prior quarter's sale of an insurance agency. Non-interest expenses fell to $114.7 million, including a $9.2 million drop in merger-related expenses. The adjusted net interest margin increased to 3.34%, and the allowance for credit losses as a percentage of total loans decreased slightly to 1.57%. Looking forward, the company anticipates modest expansion in the net interest margin for 2025. The anticipated merger with The First is expected to close in the first half of 2025, enhancing the balance sheet and earnings profile.Strong Loan and Deposit Growth
The company reported a significant loan growth of $257 million and a deposit increase of $63 million, with interest-bearing deposits rising by $189 million. Total deposits increased even while total deposit costs decreased by 16 basis points.
Successful Financial Performance
Renasant achieved earnings of $44.7 million or $0.70 per diluted share for the fourth quarter, with net interest income increasing by $1.9 million on a linked quarter basis.
Positive Developments in Merger with The First
The merger with The First is proceeding as planned, expected to complete in the first half of 2025, which is anticipated to strengthen the balance sheet and earnings profile.
Improved Asset Quality Metrics
Criticized loans and total non-performing assets decreased, with criticized loans as a percentage of total loans decreasing by 13 basis points to 2.89%.
Positive Outlook for Net Interest Margin
The adjusted net interest margin increased by 2 basis points to 3.34%, and the outlook for 2025 is for some modest expansion in the margin.
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RNST Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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RNST Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 28, 2025 | $37.45 | $37.85 | +1.07% |
| Oct 22, 2024 | $32.28 | $34.01 | +5.36% |
| Jul 23, 2024 | $36.24 | $35.46 | -2.15% |
| Apr 23, 2024 | $29.90 | $30.04 | +0.47% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Renasant Corp. (RNST) report earnings?
Renasant Corp. (RNST) is schdueled to report earning on Apr 29, 2025, TBA Not Confirmed.
What is Renasant Corp. (RNST) earnings time?
Renasant Corp. (RNST) earnings time is at Apr 29, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is RNST EPS forecast?
RNST EPS forecast for the fiscal quarter 2025 (Q1) is 0.5.
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