Landscape Capital Management L.L.C. Has $301,000 Stock Holdings in Renasant Co. $RNST

Key Points

• Landscape Capital Management L.L.C. significantly reduced its stake in Renasant Co. by 59.5%, now holding 8,880 shares valued at approximately $301,000.
• Renasant announced a quarterly dividend of $0.22 per share to be paid on September 30th, which represents an annual yield of 2.3%.
• Analysts have mixed sentiments on Renasant, with a current consensus rating of "Moderate Buy" and a price target averaging $41.67.

Landscape Capital Management L.L.C. trimmed its holdings in shares of Renasant Co. (NASDAQ:RNST - Free Report) by 59.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,880 shares of the financial services provider's stock after selling 13,064 shares during the quarter. Landscape Capital Management L.L.C.'s holdings in Renasant were worth $301,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in Renasant by 49.0% during the 1st quarter. Principal Financial Group Inc. now owns 459,124 shares of the financial services provider's stock worth $15,578,000 after acquiring an additional 150,929 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in Renasant by 292.4% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 68,655 shares of the financial services provider's stock worth $2,330,000 after acquiring an additional 51,161 shares during the last quarter. Amalgamated Bank grew its holdings in Renasant by 31.5% during the 1st quarter. Amalgamated Bank now owns 24,216 shares of the financial services provider's stock worth $822,000 after acquiring an additional 5,802 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Renasant by 11.8% during the 1st quarter. Bank of New York Mellon Corp now owns 606,884 shares of the financial services provider's stock worth $20,592,000 after acquiring an additional 63,956 shares during the last quarter. Finally, New York State Teachers Retirement System grew its holdings in Renasant by 38.9% during the 1st quarter. New York State Teachers Retirement System now owns 24,006 shares of the financial services provider's stock worth $815,000 after acquiring an additional 6,720 shares during the last quarter. 77.31% of the stock is owned by institutional investors.

Renasant Stock Up 0.9%

Shares of Renasant stock traded up $0.34 during trading on Wednesday, reaching $39.07. 348,037 shares of the company traded hands, compared to its average volume of 719,312. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94. Renasant Co. has a 1-year low of $26.97 and a 1-year high of $39.76. The company has a 50 day moving average price of $37.66 and a 200-day moving average price of $35.13. The firm has a market capitalization of $3.71 billion, a PE ratio of 11.95 and a beta of 0.93.

Renasant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, September 16th. This represents a $0.88 annualized dividend and a yield of 2.3%. Renasant's dividend payout ratio is presently 34.65%.

Analyst Upgrades and Downgrades

RNST has been the topic of a number of analyst reports. Hovde Group upped their price objective on shares of Renasant from $35.00 to $39.00 and gave the company a "market perform" rating in a research note on Wednesday, July 23rd. Keefe, Bruyette & Woods reduced their price objective on shares of Renasant from $45.00 to $43.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of Renasant in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $41.67.

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.