Stock Monitor: SunTrust Banks Post Earnings Reporting
LONDON, UK / ACCESSWIRE / January 22, 2018 / Active-Investors.com has just released a free earnings report on Renasant Corp. (NASDAQ: RNST). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=RNST. The Company posted its financial results on January 16, 2018, for the fourth quarter of the fiscal year 2017. The bank holding Company's revenue and adjusted EPS surpassed analysts' expectations. Register today and get access to over 1000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for SunTrust Banks, Inc. (NYSE: STI), which also belongs to the Financial sector as the Company Renasant. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Renasant most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
For the three months ended December 31, 2017, Renasant's revenues increased 16.1% to $125.70 million from $108.30 million in Q4 FY16. The Company's revenue numbers surpassed analysts' expectations of $126.56 million.
During Q4 FY17, Renasant's total interest income jumped 21.8% to $104.59 million from $85.84 million in Q4 FY16. For the reported quarter, the Company's total interest expenses increased 45.4% to $11.33 million from $7.79 million in Q4 FY16. For the reported quarter, the Company's net interest income increased 19.5% to $93.26 million from $78.05 million in Q4 FY16.
For the reported quarter, the Company's net interest margin was 4.25% compared to 4.24% in Q4 FY16.
During Q4 FY17, Renasant's total non-interest income increased 7.2% to $32.44 million from $30.26 million in Q4 FY16. For the reported quarter, the Company's salaries and employee benefits expenses increased 22.1% to $48.79 million from $39.97 million in Q4 FY16. For the reported quarter, Renasant's occupancy and equipment expenses increased 15.2% to $10.15 million from $8.81 million in Q4 FY16. During Q4 FY17, the Company's total non-interest expenses increased 7.3% to $76.81 million from $71.56 million in Q4 FY16.
During Q4 FY17, Renasant's earnings before tax (EBT) increased 33.2% to $46.75 million from $35.10 million in the same period of last year. For the reported quarter, the Company's EBT margin increased 480 basis points to 37.2% of revenue from 32.4% of revenue in Q4 FY16.
For the reported quarter, Renasant's net income decreased 30.2% to $16.51 million from $23.64 million in Q4 FY16. During Q4 FY17, the Company's diluted earnings per share (EPS) decreased 40% to $0.33 from $0.55 in the comparable period of last year. The write down of the Company's net deferred tax assets resulted in a $14.5 million decrease in net income, or $0.30 in diluted EPS, for the reported quarter.
For the reported quarter, Renasant's adjusted net income increased 25.3% to $31.48 million on a y-o-y basis from $25.13 million in Q4 FY16. During Q4 FY17, the Company's adjusted diluted earnings per share (EPS) increased 8.5% to $0.64 on a y-o-y basis from $0.59 in the corresponding period of last year, surpassing analysts' expectations of $0.61.
During Q4 FY17, Renasant's total non-performing assets decreased 45.2% to $21.68 million from $39.53 million in the same period of last year. For the reported quarter, the Company's non-performing assets to total assets ratio was 0.40% compared to 0.68% in Q4 FY16.
During Q4 FY17, Renasant's allowance for loan losses increased 8.1% to $46.21 million from $42.74 million in the comparable period of last year. For the reported quarter, the Company's allowance for loan losses to total loans ratio was 0.61% compared to 0.69% in Q4 FY16.
For the reported quarter, the Company's total loans increased 22.9% to $7.62 billion from $6.20 billion in Q4 FY16. For the reported quarter, Renasant's total deposits increased 12.2% to $7.92 billion from $7.06 billion in Q4 FY16.
During Q4 FY17, Renasant's book value per share was $30.72 compared to $27.81 in the corresponding period of last year. For the reported quarter, the Company's tangible book value per share was $17.83 compared to $16.65 in the fourth quarter of 2016.
For the reported quarter, the Company's common equity Tier 1 capital ratio was 11.32% compared to 11.47% in Q4 FY16. For the reported quarter, the Company's efficiency ratio was 57.75% compared to 61.69% in Q4 FY16.
Stock Performance Snapshot
January 19, 2018 - At Friday's closing bell, Renasant's stock rose 1.38%, ending the trading session at $44.04.
Volume traded for the day: 229.32 thousand shares, which was above the 3-month average volume of 180.84 thousand shares.
Stock performance in the last month – up 3.45%; previous three-month period – up 5.26%; past twelve-month period – up 11.72%; and year-to-date – up 7.70%
After last Friday's close, Renasant's market cap was at $2.16 billion.
Price to Earnings (P/E) ratio was at 20.07.
The stock has a dividend yield of 1.73%.
The stock is part of the Financial sector, categorized under the Money Center Banks industry. This sector was up 0.6% at the end of the session.
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email email@example.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.