Keefe, Bruyette & Woods Downgrades Renasant Corp (RNST) to Market Perform; Valuation Call

Keefe, Bruyette & Woods downgraded Renasant Corp (NASDAQ: RNST) from Outperform to Market Perform, price target lowered to $15.

KBW analyst says, "We reviewed RNST's 10Q, and given 3Q's increase in OREO costs plus the second consecutive quarter's increase in commercial classified loans (new in the Q), we revisited the bull and bear thesis on RNST's credit position. While we like RNST's fundamental growth story, we believe credit costs will continue to be a headwind in 2012."

For an analyst ratings summary and ratings history on Renasant Corp click here. For more ratings news on Renasant Corp click here.

Shares of Renasant Corp closed at $14.69 yesterday.

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