Renasant Co. (NASDAQ:RNST) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio decreased its position in Renasant Co. (NASDAQ:RNST - Free Report) by 7.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 101,236 shares of the financial services provider's stock after selling 7,990 shares during the quarter. Public Employees Retirement System of Ohio owned 0.16% of Renasant worth $3,619,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. William Blair Investment Management LLC purchased a new stake in Renasant during the fourth quarter valued at $36,987,000. 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 worth $41,963,000 after buying an additional 788,762 shares during the last quarter. Deprince Race & Zollo Inc. increased its holdings in shares of Renasant by 63.9% in the 4th quarter. Deprince Race & Zollo Inc. now owns 1,283,577 shares of the financial services provider's stock worth $45,888,000 after buying an additional 500,193 shares during the last quarter. Bank of America Corp DE raised its position in shares of Renasant by 376.5% during the 4th quarter. Bank of America Corp DE now owns 605,303 shares of the financial services provider's stock valued at $21,640,000 after buying an additional 478,266 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of Renasant in the 4th quarter valued at about $17,088,000. 77.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RNST has been the subject of a number of analyst reports. Hovde Group raised 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. Keefe, Bruyette & Woods dropped their price target on shares of Renasant from $45.00 to $43.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. Finally, Raymond James raised 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. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $41.00.

Renasant Stock Up 1.8%

RNST stock traded up $0.62 during trading on Tuesday, reaching $35.34. 434,527 shares of the company traded hands, compared to its average volume of 661,335. The business has a 50 day simple moving average of $32.36 and a 200 day simple moving average of $35.01. Renasant Co. has a 12 month low of $26.97 and a 12 month high of $39.63. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.96. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 10.81 and a beta of 0.86.

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. The business had revenue of $170.59 million for the quarter, compared to the consensus estimate of $170.38 million. Renasant had a return on equity of 6.58% and a net margin of 17.91%. During the same period in the prior year, the firm posted $0.65 earnings per share. On average, equities research analysts anticipate that Renasant Co. will post 2.68 earnings per share for the current fiscal year.

Renasant Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Monday, June 16th. Renasant's dividend payout ratio is presently 27.33%.

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.