Renasant: 2Q Earnings Snapshot
TUPELO, Miss. (AP) _ Renasant Corp. (RNST) on Monday reported second-quarter profit of $46.6 million.
The bank, based in Tupelo, Mississippi, said it had earnings of 80 cents per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to 82 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.
The holding company for Renasant Bank posted revenue of $179.8 million in the period. Its revenue net of interest expense was $154.8 million, which also topped Street forecasts. Three analysts surveyed by Zacks expected $153.5 million.
Renasant shares have climbed 13% since the beginning of the year. In the final minutes of trading on Monday, shares hit $34.13, a fall of 25% in the last 12 months.