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Here's What Key Metrics Tell Us About Renasant (RNST) Q1 Earnings

Zacks Equity Research
·2 min read

For the quarter ended March 2024, Renasant (RNST) reported revenue of $164.67 million, down 4.9% over the same period last year. EPS came in at $0.65, compared to $0.82 in the year-ago quarter.

The reported revenue represents a surprise of +3.18% over the Zacks Consensus Estimate of $159.6 million. With the consensus EPS estimate being $0.63, the EPS surprise was +3.17%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how Renasant performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Net Interest Margin: 3.3% versus 3.3% estimated by four analysts on average.

  • Efficiency ratio (GAAP): 67.5% versus the four-analyst average estimate of 68%.

  • Average Balance - Total interest-earning assets: $15.30 billion compared to the $15.36 billion average estimate based on three analysts.

  • Annualized net loan charge-offs / average loans: 0% versus the three-analyst average estimate of 0.1%.

  • Total Nonperforming Loans: $74.23 million versus the two-analyst average estimate of $73.79 million.

  • Total Nonperforming Assets: $83.37 million versus $85.09 million estimated by two analysts on average.

  • Net Interest Income: $123.29 million compared to the $122.86 million average estimate based on four analysts.

  • Net Interest income (FTE): $125.85 million versus the four-analyst average estimate of $125.54 million.

  • Total Noninterest Income: $41.38 million compared to the $36.76 million average estimate based on four analysts.

View all Key Company Metrics for Renasant here>>>

Shares of Renasant have returned +0.9% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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Renasant Corporation (RNST) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research