Deutsche Bank AG Acquires 19,240 Shares of Renasant Co. (NASDAQ:RNST)

Deutsche Bank AG grew its holdings in Renasant Co. (NASDAQ:RNST - Free Report) by 61.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 50,346 shares of the financial services provider's stock after acquiring an additional 19,240 shares during the quarter. Deutsche Bank AG owned about 0.08% of Renasant worth $1,800,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC increased its position in Renasant by 183.3% during the third quarter. Barclays PLC now owns 137,217 shares of the financial services provider's stock worth $4,461,000 after buying an additional 88,783 shares during the period. KBC Group NV grew its position in shares of Renasant by 36.7% during the fourth quarter. KBC Group NV now owns 3,358 shares of the financial services provider's stock worth $120,000 after acquiring an additional 901 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Renasant by 204.9% in the 4th quarter. Jennison Associates LLC now owns 1,173,801 shares of the financial services provider's stock valued at $41,963,000 after acquiring an additional 788,762 shares during the period. Empowered Funds LLC raised its position in Renasant by 5.1% in the 4th quarter. Empowered Funds LLC now owns 200,824 shares of the financial services provider's stock valued at $7,179,000 after purchasing an additional 9,747 shares during the last quarter. Finally, Equitable Trust Co. acquired a new stake in Renasant during the 4th quarter worth $248,000. Institutional investors and hedge funds own 77.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wall Street Zen lowered Renasant from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Raymond James raised shares of Renasant from an "outperform" rating to a "strong-buy" rating and set a $40.00 price objective on the stock in a research note on Thursday, April 24th. Stephens raised their target price on shares of Renasant from $44.00 to $47.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Keefe, Bruyette & Woods lowered their target price on shares of Renasant from $45.00 to $43.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Finally, Piper Sandler increased their price target on shares of Renasant from $41.00 to $44.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $41.00.

Renasant Stock Up 0.6%

NASDAQ RNST traded up $0.20 during trading hours on Thursday, reaching $35.48. 464,285 shares of the company traded hands, compared to its average volume of 657,401. The stock has a market capitalization of $3.37 billion, a PE ratio of 10.85 and a beta of 0.86. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. Renasant Co. has a 12 month low of $26.97 and a 12 month high of $39.63. The company has a 50 day moving average of $32.39 and a two-hundred day moving average of $35.07.

Renasant (NASDAQ:RNST - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The financial services provider reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.06. The company had revenue of $170.59 million for the quarter, compared to analysts' expectations of $170.38 million. Renasant had a net margin of 17.91% and a return on equity of 6.58%. During the same period in the prior year, the company earned $0.65 earnings per share. As a group, equities analysts expect that Renasant Co. will post 2.68 earnings per share for the current year.

Renasant Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $0.22 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.88 dividend on an annualized basis and a yield of 2.48%. Renasant's dividend payout ratio is presently 27.33%.

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.