8,722 Shares in Renasant Co. $RNST Bought by Jump Financial LLC

Key Points

• Jump Financial LLC acquired 8,722 shares of Renasant Co. for approximately $296,000, marking a significant new stake in the company during the first quarter.
• Renasant's stock is currently rated as a "Moderate Buy" with an average price target of $41.67, and it was recently upgraded by Hovde Group to a price objective of $39.00.
• The company announced a quarterly dividend of $0.22 per share set to be paid on September 30th, with an annualized yield of 2.3%.

Jump Financial LLC purchased a new stake in Renasant Co. (NASDAQ:RNST - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 8,722 shares of the financial services provider's stock, valued at approximately $296,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. HighTower Advisors LLC lifted its position in Renasant by 2.8% during the 1st quarter. HighTower Advisors LLC now owns 11,825 shares of the financial services provider's stock worth $401,000 after buying an additional 322 shares in the last quarter. CWM LLC raised its holdings in Renasant by 42.7% in the 1st quarter. CWM LLC now owns 1,330 shares of the financial services provider's stock valued at $45,000 after buying an additional 398 shares during the last quarter. Sheets Smith Wealth Management increased its stake in shares of Renasant by 4.9% in the 1st quarter. Sheets Smith Wealth Management now owns 13,081 shares of the financial services provider's stock valued at $444,000 after acquiring an additional 610 shares in the last quarter. Resolute Wealth Strategies LLC boosted its holdings in Renasant by 0.9% during the 1st quarter. Resolute Wealth Strategies LLC now owns 77,181 shares of the financial services provider's stock worth $2,619,000 after acquiring an additional 653 shares during the last quarter. Finally, HB Wealth Management LLC increased its position in shares of Renasant by 2.3% during the first quarter. HB Wealth Management LLC now owns 29,677 shares of the financial services provider's stock valued at $1,007,000 after buying an additional 676 shares during the period. 77.31% of the stock is owned by institutional investors and hedge funds.

Renasant Stock Performance

Renasant stock traded down $0.04 during trading hours on Monday, hitting $39.44. The stock had a trading volume of 146,277 shares, compared to its average volume of 712,964. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.16. Renasant Co. has a fifty-two week low of $26.97 and a fifty-two week high of $40.40. The company has a market cap of $3.75 billion, a PE ratio of 12.06 and a beta of 0.93. The company has a 50-day moving average of $37.79 and a two-hundred day moving average of $35.12.

Renasant Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 16th. Renasant's dividend payout ratio (DPR) is presently 34.65%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Renasant in a research report on Wednesday, July 23rd. Hovde Group upped their price target on Renasant from $35.00 to $39.00 and gave the company a "market perform" rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $41.67.

About Renasant

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.