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Investing.com - Raymond (NSE:RYMD) James raised its price target on Renasant Corp (NYSE:RNST) to $44.00 from $40.00 on Wednesday, while maintaining its Strong Buy rating following the bank’s second-quarter 2025 results. The bank, currently valued at $3.52 billion, trades at an attractive P/E ratio of 11.5x, according to InvestingPro data.
The bank delivered solid performance despite some noise related to its FBMS acquisition, with core pre-provision net revenue exceeding both Raymond James’ forecasts and consensus estimates.
Renasant demonstrated strong organic growth with loans increasing at an annualized rate of 6.9% and deposits growing 6.8% annualized, while its net interest margin came in higher than expected, driving upside in net interest income.
Credit quality remained stable with the combined loan loss reserve ratio ticking slightly higher to 1.57%, and core noninterest expenses were lower than projected, although core fee income fell short of expectations.
Raymond James maintained its 2026 earnings per share estimate unchanged, noting that stronger net interest income is essentially offset by higher noninterest and credit costs along with lower fees compared to previous projections.
In other recent news, Renasant Corporation reported its second-quarter earnings for 2025, exceeding analysts’ expectations. The company achieved an earnings per share (EPS) of $0.69, slightly higher than the forecasted $0.68. Revenue also surpassed projections, reaching $267.19 million compared to the anticipated $264.05 million. These results indicate a strong performance for the quarter, reflecting positively on the company’s financial health. Despite the positive earnings and revenue figures, the market reacted cautiously. Analysts and investors may be evaluating other factors beyond the earnings report. The recent developments highlight the ongoing interest and scrutiny from investors and analysts alike.
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