Renasant Co. (NASDAQ:RNST) Holdings Raised by GAMMA Investing LLC

GAMMA Investing LLC lifted its position in shares of Renasant Co. (NASDAQ:RNST - Free Report) by 3,597.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,794 shares of the financial services provider's stock after buying an additional 32,880 shares during the period. GAMMA Investing LLC owned approximately 0.05% of Renasant worth $1,147,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in RNST. Wellington Management Group LLP purchased a new stake in Renasant during the fourth quarter valued at about $17,088,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Renasant in the fourth quarter worth $44,000. Smith Shellnut Wilson LLC ADV acquired a new stake in shares of Renasant in the fourth quarter worth $201,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Renasant by 17.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 166,033 shares of the financial services provider's stock valued at $5,936,000 after acquiring an additional 24,897 shares during the period. Finally, Waverly Advisors LLC lifted its holdings in shares of Renasant by 25.0% during the 4th quarter. Waverly Advisors LLC now owns 42,861 shares of the financial services provider's stock valued at $1,532,000 after acquiring an additional 8,562 shares in the last quarter. 77.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on RNST. Keefe, Bruyette & Woods lowered their price target on Renasant from $45.00 to $43.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Hovde Group increased their target price on Renasant from $34.50 to $35.00 and gave the company a "market perform" rating in a research note on Monday, April 28th. Finally, Raymond James Financial upgraded Renasant from an "outperform" rating to a "strong-buy" rating and set a $40.00 target price on the stock in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.00.

Renasant Stock Up 0.6%

Shares of Renasant stock traded up $0.22 during trading hours on Thursday, hitting $34.53. 454,523 shares of the company's stock traded hands, compared to its average volume of 675,292. Renasant Co. has a twelve month low of $26.97 and a twelve month high of $39.63. The stock has a 50 day simple moving average of $33.32 and a 200-day simple moving average of $34.86. 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 has a market cap of $3.28 billion, a PE ratio of 10.56 and a beta of 0.91.

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

Renasant Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid 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 dividend yield of 2.55%. Renasant's dividend payout ratio (DPR) 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.