7,435 Shares in Renasant Co. (NASDAQ:RNST) Bought by Balefire LLC

Balefire LLC purchased a new position in Renasant Co. (NASDAQ:RNST - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,435 shares of the financial services provider's stock, valued at approximately $252,000.

Several other large investors also recently bought and sold shares of the business. HighTower Advisors LLC grew its holdings in Renasant by 3.4% during the 4th quarter. HighTower Advisors LLC now owns 11,503 shares of the financial services provider's stock worth $411,000 after acquiring an additional 377 shares in the last quarter. Bank of Montreal Can grew its holdings in Renasant by 4.1% during the 4th quarter. Bank of Montreal Can now owns 9,619 shares of the financial services provider's stock worth $344,000 after acquiring an additional 383 shares in the last quarter. Arizona State Retirement System grew its holdings in Renasant by 2.4% during the 4th quarter. Arizona State Retirement System now owns 18,445 shares of the financial services provider's stock worth $659,000 after acquiring an additional 424 shares in the last quarter. Sheets Smith Wealth Management grew its holdings in Renasant by 4.9% during the 1st quarter. Sheets Smith Wealth Management now owns 13,081 shares of the financial services provider's stock worth $444,000 after acquiring an additional 610 shares in the last quarter. Finally, Covestor Ltd lifted its position in shares of Renasant by 73.7% during the fourth quarter. Covestor Ltd now owns 1,838 shares of the financial services provider's stock valued at $66,000 after buying an additional 780 shares during the last quarter. Institutional investors own 77.31% of the company's stock.

Renasant Trading Up 2.1%

Shares of RNST stock opened at $36.36 on Friday. The stock's fifty day moving average is $34.21 and its two-hundred day moving average is $34.78. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.96. The firm has a market capitalization of $3.45 billion, a P/E ratio of 11.12 and a beta of 0.91. Renasant Co. has a fifty-two week low of $26.97 and a fifty-two week high of $39.63.

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

Renasant Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.88 annualized dividend and a dividend yield of 2.42%. Renasant's dividend payout ratio is presently 27.33%.

Analyst Ratings Changes

A number of research firms have recently weighed in on RNST. Hovde Group raised their price target on shares of Renasant from $34.50 to $35.00 and gave the company a "market perform" rating in a report on Monday, April 28th. Keefe, Bruyette & Woods decreased their price objective on shares of Renasant from $45.00 to $43.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. Finally, Raymond James Financial raised shares of Renasant from an "outperform" rating to a "strong-buy" rating and set a $40.00 price objective for the company in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $41.00.

Renasant 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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