Renasant (US:RNST) ZACKS·2024-10-23 00:00Core Insights - Renasant reported revenue of $220.3 million for Q3 2024, marking a 32.5% increase year-over-year, and exceeding the Zacks Consensus Estimate of $184.73 million by 19.26% [1] - The company's EPS for the quarter was $0.70, slightly down from $0.75 in the same quarter last year, but still surpassing the consensus estimate of $0.63 by 11.11% [1] Financial Performance Metrics - Net Interest Margin was reported at 3.4%, above the average estimate of 3.3% from four analysts [1] - The Efficiency Ratio (GAAP) stood at 54.7%, significantly better than the average estimate of 63.4% from four analysts [1] - Average Balance of Total Interest-Earning Assets was $15.81 billion, exceeding the estimated $15.51 billion from three analysts [1] - Annualized Net Loan Charge-Offs to Average Loans was 0%, outperforming the estimated 0.2% from three analysts [1] - Total Nonperforming Loans reached $119.22 million, higher than the estimated $95.89 million from two analysts [1] - Total Nonperforming Assets were reported at $128.36 million, above the average estimate of $103.60 million from two analysts [1] - Net Interest Income was $131 million, surpassing the average estimate of $127.25 million from four analysts [1] - Net Interest Income (FTE) was $133.58 million, exceeding the average estimate of $129.96 million from four analysts [1] - Total Noninterest Income was reported at $89.30 million, significantly higher than the estimated $45.93 million from four analysts [1] Stock Performance - Renasant shares have returned -2.3% over the past month, contrasting with the Zacks S&P 500 composite's +2.8% change [2] - The stock currently holds a Zacks Rank 5 (Strong Sell), indicating potential underperformance relative to the broader market in the near term [2]