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Free Post Earnings Research Report: Renasant’s Revenue Surged 16.1%; Adjusted EPS Advanced 8.5%

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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:

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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:

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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:

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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.

Asset Quality

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.

Balance Sheet

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.

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