Renasant Co. (NASDAQ:RNST) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lowered its position in Renasant Co. (NASDAQ:RNST - Free Report) by 39.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,560 shares of the financial services provider's stock after selling 13,591 shares during the quarter. BNP Paribas Financial Markets' holdings in Renasant were worth $735,000 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. William Blair Investment Management LLC bought a new position in shares of Renasant in the fourth quarter worth about $36,987,000. Jennison Associates LLC grew its holdings in Renasant by 204.9% during the 4th quarter. Jennison Associates LLC now owns 1,173,801 shares of the financial services provider's stock worth $41,963,000 after acquiring an additional 788,762 shares in the last quarter. Wellington Management Group LLP bought a new position in Renasant during the 4th quarter worth about $17,088,000. Marshall Wace LLP bought a new position in Renasant during the 4th quarter worth about $13,204,000. Finally, Raymond James Financial Inc. bought a new position in Renasant during the 4th quarter worth about $9,586,000. Hedge funds and other institutional investors own 77.31% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RNST. Keefe, Bruyette & Woods decreased their price objective on shares of Renasant from $45.00 to $43.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. Hovde Group increased their price objective on shares of Renasant from $34.50 to $35.00 and gave the company a "market perform" rating in a research report on Monday, April 28th. Stephens raised their price target on shares of Renasant from $44.00 to $47.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Piper Sandler lifted their price objective on shares of Renasant from $41.00 to $44.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Finally, Raymond James upgraded 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 issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $41.00.

Renasant Stock Performance

Shares of RNST traded down $0.24 during mid-day trading on Wednesday, reaching $35.53. 79,432 shares of the company's stock were exchanged, compared to its average volume of 823,561. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94. The business's fifty day simple moving average is $32.39 and its 200-day simple moving average is $35.08. Renasant Co. has a 52-week low of $26.97 and a 52-week high of $39.63. The stock has a market capitalization of $3.38 billion, a PE ratio of 10.86 and a beta of 0.86.

Renasant (NASDAQ:RNST - Get Free Report) last issued its quarterly earnings data 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. 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 analysts' expectations of $170.38 million. During the same period last year, the company posted $0.65 EPS. On average, equities research analysts expect that Renasant Co. will post 2.68 earnings per share for the current year.

Renasant Dividend Announcement

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