Jupiter Topco LLC purchased a new stake in shares of Renasant Corp (NYSE:RNST - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 38,428 shares of the company's stock, valued at approximately $1,634,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Renasant during the 2nd quarter worth about $566,683,000. Dimensional Fund Advisors LP increased its stake in shares of Renasant by 1.2% during the first quarter. Dimensional Fund Advisors LP now owns 5,328,672 shares of the company's stock worth $192,521,000 after purchasing an additional 61,674 shares in the last quarter. State Street Corp increased its stake in Renasant by 14.1% during the 2nd quarter. State Street Corp now owns 4,812,696 shares of the company's stock worth $172,920,000 after buying an additional 595,609 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Renasant by 4.3% during the fourth quarter. Wellington Management Group LLP now owns 3,089,186 shares of the company's stock worth $108,801,000 after purchasing an additional 126,405 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Renasant by 0.6% in the third quarter. Invesco Ltd. now owns 2,229,966 shares of the company's stock worth $82,263,000 after buying an additional 14,301 shares in the last quarter. Hedge funds and other institutional investors own 77.31% of the company's stock.
Insider Buying and Selling
In other news, Director Edward Mcgraw sold 35,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $43.88, for a total value of $1,535,800.00. Following the sale, the director directly owned 211,458 shares in the company, valued at approximately $9,278,777.04. This trade represents a 14.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.07% of the stock is owned by corporate insiders.
Renasant Price Performance
RNST stock opened at $41.38 on Friday. The business's fifty day moving average price is $42.65 and its 200 day moving average price is $40.48. Renasant Corp has a 12-month low of $33.04 and a 12-month high of $44.54. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $3.78 billion, a PE ratio of 12.39 and a beta of 0.97.
Renasant (NYSE:RNST - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported $0.94 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.03. The company had revenue of $573.62 million during the quarter, compared to analysts' expectations of $280.71 million. Renasant had a return on equity of 8.67% and a net margin of 19.94%.During the same period last year, the business posted $0.01 EPS. On average, sell-side analysts anticipate that Renasant Corp will post 3.79 EPS for the current year.
Renasant Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a dividend of $0.24 per share. The ex-dividend date is Wednesday, September 16th. This represents a $0.96 dividend on an annualized basis and a yield of 2.3%. Renasant's dividend payout ratio is 28.74%.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on RNST shares. TD Cowen upped their price objective on shares of Renasant from $48.00 to $49.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Weiss Ratings upgraded Renasant from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. Finally, Piper Sandler boosted their price objective on shares of Renasant from $46.00 to $48.00 and gave the company an "overweight" rating in a report on Thursday, July 30th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $47.67.
View Our Latest Report on RNST
Renasant Profile
(
Free Report)
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. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and equipment leasing services, as well as safe deposit and night depository facilities. It also provides commercial, financial, and agricultural loans; equipment financing and leasing; real estate1-4 family mortgage; real estatecommercial mortgage; real estateconstruction loans for the construction of single family residential properties, multi-family properties, and commercial projects; installment loans to individuals; and interim construction loans, as well as automated teller machine (ATM), online and mobile banking, call center, and treasury management services.
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