Commonwealth Equity Services LLC lessened its holdings in shares of Renasant Co. (NASDAQ:RNST – Free Report) by 8.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,119 shares of the financial services provider’s stock after selling 2,933 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Renasant were worth $1,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of RNST. KBC Group NV grew its stake in shares of Renasant by 36.7% during the 4th quarter. KBC Group NV now owns 3,358 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 901 shares during the period. ZWJ Investment Counsel Inc. bought a new position in shares of Renasant in the fourth quarter worth approximately $208,000. CIBC Asset Management Inc purchased a new stake in shares of Renasant in the fourth quarter worth $220,000. Verition Fund Management LLC bought a new stake in shares of Renasant during the 3rd quarter valued at $210,000. Finally, Element Wealth LLC purchased a new position in shares of Renasant during the 4th quarter valued at $240,000. Institutional investors own 77.31% of the company’s stock.
Wall Street Analysts Forecast Growth
RNST has been the subject of a number of analyst reports. StockNews.com lowered Renasant from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Piper Sandler lifted their target price on Renasant from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Stephens boosted their price target on Renasant from $44.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $46.00 price objective (up from $45.00) on shares of Renasant in a report on Thursday, January 30th. Finally, Raymond James reissued an “outperform” rating and issued a $44.00 target price (up previously from $40.00) on shares of Renasant in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $42.83.
Check Out Our Latest Stock Report on Renasant
Insider Activity at Renasant
In other news, CAO Kelly Hutcheson sold 1,310 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $36.72, for a total value of $48,103.20. Following the sale, the chief accounting officer now directly owns 17,586 shares in the company, valued at $645,757.92. The trade was a 6.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.81% of the stock is owned by insiders.
Renasant Stock Performance
NASDAQ RNST opened at $33.84 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94. Renasant Co. has a 1-year low of $27.98 and a 1-year high of $39.63. The business has a 50 day simple moving average of $36.40 and a two-hundred day simple moving average of $35.52. The stock has a market capitalization of $2.15 billion, a PE ratio of 10.35 and a beta of 1.02.
Renasant Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.60%. The ex-dividend date was Monday, March 17th. Renasant’s dividend payout ratio is presently 26.91%.
Renasant Company Profile
Renasant Corporation operates as a bank holding company for Renasant Bank that provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. The company operates through Community Banks, Insurance, and Wealth Management segments. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and factoring equipment leasing services, as well as safe deposit and night depository facilities.
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