Deprince Race & Zollo Inc. Purchases 500,193 Shares of Renasant Co. (NASDAQ:RNST)

Deprince Race & Zollo Inc. raised its position in Renasant Co. (NASDAQ:RNST - Free Report) by 63.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,283,577 shares of the financial services provider's stock after purchasing an additional 500,193 shares during the period. Deprince Race & Zollo Inc. owned 2.02% of Renasant worth $45,888,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Covestor Ltd grew its holdings in Renasant by 73.7% during the 4th quarter. Covestor Ltd now owns 1,838 shares of the financial services provider's stock worth $66,000 after acquiring an additional 780 shares during the period. KBC Group NV increased its holdings in Renasant by 36.7% in the fourth quarter. KBC Group NV now owns 3,358 shares of the financial services provider's stock worth $120,000 after purchasing an additional 901 shares in the last quarter. ZWJ Investment Counsel Inc. bought a new position in shares of Renasant during the 4th quarter worth approximately $208,000. Cibc World Markets Corp acquired a new stake in shares of Renasant during the 4th quarter worth approximately $209,000. Finally, CIBC Asset Management Inc bought a new stake in shares of Renasant in the 4th quarter valued at $220,000. 77.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on RNST. Raymond James raised shares of Renasant from an "outperform" rating to a "strong-buy" rating and set a $40.00 target price on the stock in a research note on Thursday, April 24th. Keefe, Bruyette & Woods reduced their target price on Renasant from $45.00 to $43.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. StockNews.com downgraded Renasant from a "hold" rating to a "sell" rating in a research note on Friday, January 31st. Piper Sandler boosted their price objective on Renasant from $41.00 to $44.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Finally, Hovde Group increased their target price on Renasant from $34.50 to $35.00 and gave the stock a "market perform" rating in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Renasant presently has an average rating of "Moderate Buy" and a consensus target price of $41.00.

Renasant Stock Down 0.5 %

NASDAQ RNST traded down $0.18 on Friday, reaching $33.82. The company had a trading volume of 349,313 shares, compared to its average volume of 641,082. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.16. The company's fifty day moving average is $32.13 and its 200 day moving average is $35.04. Renasant Co. has a 52-week low of $26.97 and a 52-week high of $39.63. The stock has a market capitalization of $2.15 billion, a P/E ratio of 10.34 and a beta of 0.86.

Renasant (NASDAQ:RNST - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.06. The company had revenue of $170.59 million for the quarter, compared to analyst estimates of $170.38 million. Renasant had a net margin of 17.91% and a return on equity of 6.58%. During the same period last year, the firm earned $0.65 earnings per share. Sell-side analysts anticipate that Renasant Co. will post 2.68 earnings per share for the current fiscal year.

Renasant Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Monday, June 16th. Renasant's payout ratio is 27.33%.

Insider Buying and Selling

In other news, CAO Kelly Hutcheson sold 1,310 shares of Renasant stock in a transaction on Friday, February 21st. The stock was sold at an average price of $36.72, for a total transaction 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 document filed with the SEC, which is available at this hyperlink. 2.81% of the stock is currently owned by corporate insiders.

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.