Tag - Rnst

Midsouth Bancorp Inc (Nasdaq:MSL), M & F Worldwide Corp (Nasdaq:MFW) and Bank of Marin Bancorp (Nasdaq:BMRC) are among the new 52-week lows in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: American Greetings Corp (Nasdaq:AM), Central Pacific Financial Corp (Nasdaq:CPF), Webster Financial Corp (Nasdaq:WBS), Peoples Financial Corp (Miss) (Nasdaq:PFBX), Abington Bancorp Inc (Nasdaq:ABBC) and Renasant Corp (Nasdaq:RNST).

Small caps are poised for a higher opening this morning, riding a wave that kicked off after Tuesday’s close when the market embraced earnings news from giant chip maker Intel Corporation (Nasdaq:INTC). The Russell pushed up about 0.70% overnight on the news, and appeared to hold onto those gains through this morning’s CPI and Housing Starts reports, with the iShares Russell Trust up about 0.80% (NYSE:IWM) heading into the open.

The market still must navigate through Industrial Production data, which comes out at 9:15 a.m. ET. In addition, later today Federal Reserve official Janet Yellen will speak about the economic picture at 11:45 a.m. ET, and the Beige Book comes out at 2:00 p.m. ET.

From a chart perspective, the Russell 2000 Index should open into or even through resistance in the 695 zone, and the next . . .

Renasant Corp. (Nasdaq: RNST) shares are up after the bank holding company reported a 25% surge in third-quarter profits. After Tuesday’s closing, the Tupelo, Miss.-based firm reported net income of $8.3 million, or $0.39 per share, for the three months ended July 1, above analyst estimates of $0.33 per share and up from $6.6 million, or $0.42 per share, a year earlier.

“We are pleased with our third-quarter performance which included completion of the Capital merger, and full integration is now well underway," CEO E. Robinson McGraw said in a statement. “This is the first quarter that Capital's financial performance was reflected in our earnings results, and we remain excited about our future in the Nashville, Tennessee market.”

The firm’s net income included $0.4 million, or $0.02 per share, in after-tax expenses related to Renasant’s acquisition of Capital, which was completed July 1.

Renasant’s net interest income for the third quarter was $26.7 million, up from $21.7 million in the equivalent period of 2006. The firm’s net interest margin declined to 3.52%, from 4.02% a year earlier. Non-interest income totaled $13.4 million during the quarter, from $11.7 million in the prior-year period. The bank holding company’s provision for loan losses rose to $1.3 million, from $0.9 million a year earlier.

The company’s loans at the end of the third quarter totaled $2.59 billion, up 41.7% from $1.83 billion at Dec. 31.

In afternoon trading, RNST shares are up 2.17%, or $0.48, at $22.60. Over the last 52 weeks, shares have ranged from $18.07 to $32.63.