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

BNP Paribas Financial Markets reduced its holdings in Renasant Co. (NASDAQ:RNST - Free Report) by 39.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,560 shares of the financial services provider's stock after selling 13,591 shares during the period. BNP Paribas Financial Markets' holdings in Renasant were worth $735,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Covestor Ltd lifted its holdings in shares of Renasant by 73.7% in the 4th quarter. Covestor Ltd now owns 1,838 shares of the financial services provider's stock worth $66,000 after acquiring an additional 780 shares during the last quarter. KBC Group NV boosted its stake in shares of Renasant by 36.7% during the 4th quarter. KBC Group NV now owns 3,358 shares of the financial services provider's stock worth $120,000 after purchasing an additional 901 shares during the period. Cibc World Markets Corp purchased a new position in shares of Renasant during the 4th quarter worth about $209,000. CIBC Asset Management Inc purchased a new position in shares of Renasant during the 4th quarter worth about $220,000. Finally, Dark Forest Capital Management LP purchased a new position in shares of Renasant during the 4th quarter worth about $221,000. 77.31% of the stock is owned by hedge funds and other institutional investors.

Renasant Stock Down 0.3%

Shares of RNST traded down $0.09 during mid-day trading on Friday, hitting $34.61. The company's stock had a trading volume of 596,982 shares, compared to its average volume of 654,530. The company's 50-day moving average is $32.38 and its 200-day moving average is $35.10. Renasant Co. has a 52-week low of $26.97 and a 52-week high of $39.63. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 10.58 and a beta of 0.86. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16.

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

Renasant Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.88 annualized dividend and a dividend yield of 2.54%. Renasant's dividend payout ratio (DPR) is presently 27.33%.

Analyst Ratings Changes

A number of research firms recently commented on RNST. 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. 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 report on Thursday, April 24th. Piper Sandler boosted their price objective on shares of Renasant from $41.00 to $44.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Wall Street Zen cut shares of Renasant from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. Finally, Stephens boosted their price objective on shares of Renasant from $44.00 to $47.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. One equities 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $41.00.

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.