Renasant Is On A 'Better Path' After The FBMS Deal, Says Bullish Analyst
Renasant Is On A 'Better Path' After The FBMS Deal, Says Bullish Analyst
Renasant Corp (NYSE:RNST) shares tanked in early trading on Monday, a week after announcing a public offering of 6.25 million shares.
Renasant Corp (NYSE:RNST)的股票在週一早盤下跌,一週前該公司宣佈發行625萬股普通股。
The First Bancshares Inc (NYSE:FBMS) deal announcement and the common equity raise of $230 million "significantly changes the forward trajectory" for Renasant, according to Piper Sandler.
根據Piper Sandler稱,The First Bancshares Inc (NYSE:FBMS)宣佈交易和要募集23000萬美元普通股,"顯著改變了Renasant的前進方向"。
Analyst Stephen Scouten upgraded the rating for Renasant from Neutral to Overweight, while raising the price target from $35 to $40.
分析師Stephen Scouten將Renasant的評級從"中立"調升爲"增持",同時將目標價從35美元提高到40美元。
The Renasant Thesis: While Renasant paid a heavy price for the deal, including the significant discount on the common equity raise, this was a necessary for the company to "move into a higher tier of scale and profitability," Scouten said in the upgrade note.
Scouten在任職升級研報中表示,雖然Renasant爲了這筆交易付出了沉重代價,包括承受普通股募集的顯着折扣,但這是公司爲了"進入更高層次的規模和盈利能力"所必須經歷的。
Check out other analyst stock ratings.
查看其他分析師的股票評級。
The First Bancshares franchise fits well with Renasant and the "lower cost of deposits at FBMS puts the proforma entity in a higher tier from a NIM perspective," he added.
The First Bancshares的特點與Renasant非常契合,而且"FBMS更低的存款成本從NIM的角度將使得合併後的實體進入更高級別",他補充道。
"Most importantly, we think the additional scale, and the potential for cost saves with the deal changes the narrative around RNST," the analyst wrote.
"最重要的是,我們認爲規模的增加以及在交易中節省的成本,改變了關於RNSt的敘述",分析師寫道。
"The company believes that the ~14% TBVPS dilution will be earned back in ~3.5 years, and while we calculate north of four years, we still think that the uptick in profitability puts the bank on a better path moving fwd," he further stated.
"公司認爲,約14%的TBVPS稀釋將在約3.5年內賺回來,而我們計算的時間略超過4年,但我們仍然認爲,盈利能力的提高使銀行走上了更好的發展道路",他補充道。
RNST Price Action: Shares of Renasant had declined by 3.66% to $32.15 at the time of publication on Monday.
週一發佈時,Renasant的股票下跌3.66%,至32.15美元。
Photo: Shutterstock
Photo: shutterstock