GAMMA Investing LLC lifted its stake in Renasant Co. (NASDAQ:RNST - Free Report) by 3,597.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 33,794 shares of the financial services provider's stock after purchasing an additional 32,880 shares during the quarter. GAMMA Investing LLC owned about 0.05% of Renasant worth $1,147,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the stock. HighTower Advisors LLC raised its stake in shares of Renasant by 3.4% during the fourth quarter. HighTower Advisors LLC now owns 11,503 shares of the financial services provider's stock worth $411,000 after purchasing an additional 377 shares during 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 valued at $344,000 after buying an additional 383 shares during the last quarter. Arizona State Retirement System raised its stake in Renasant by 2.4% in the 4th quarter. Arizona State Retirement System now owns 18,445 shares of the financial services provider's stock valued at $659,000 after purchasing an additional 424 shares during the last quarter. Covestor Ltd lifted its stake 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 period. Finally, Quantinno Capital Management LP boosted its holdings in shares of Renasant by 7.0% during the fourth quarter. Quantinno Capital Management LP now owns 12,045 shares of the financial services provider's stock worth $431,000 after purchasing an additional 792 shares during the last quarter. Institutional investors and hedge funds own 77.31% of the company's stock.
Renasant Price Performance
RNST traded down $0.31 during midday trading on Tuesday, reaching $34.31. 378,698 shares of the company's stock were exchanged, compared to its average volume of 672,569. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of 10.49 and a beta of 0.91. The business has a 50-day simple moving average of $33.15 and a two-hundred day simple moving average of $34.87. Renasant Co. has a one year low of $26.97 and a one year high of $39.63. 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 (NASDAQ:RNST - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.66 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $170.38 million. During the same quarter in the prior year, the company posted $0.65 earnings per share. As a group, research analysts predict that Renasant Co. will post 2.68 EPS for the current year.
Renasant Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Monday, June 16th. Renasant's dividend payout ratio is 27.33%.
Analyst Ratings Changes
Several research firms have issued reports on RNST. Raymond James Financial upgraded 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 note on Thursday, April 24th. Keefe, Bruyette & Woods cut their target price on Renasant from $45.00 to $43.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Finally, Hovde Group boosted their price target on Renasant from $34.50 to $35.00 and gave the stock a "market perform" rating in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Renasant has a consensus rating of "Moderate Buy" and an average price target of $41.00.
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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. 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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