Renasant price target raised to $38 from $32 at Truist

Truist raised the firm’s price target on Renasant to $38 from $32 and keeps a Hold rating on the shares as part of a broader research note recapping Q2 results in Community/Regional banks. The firm’s revisions primarily reflect lower fees offset partially by lower expenses related to the insurance agency sale that closes in Q3, the analyst tells investors in a research note. Expense control remains a positive, and Truist is forecasting growth of 2.4% and 3.3% in 2024/2025, the firm added.