SG Americas Securities LLC trimmed its position in shares of Renasant Corp (NYSE:RNST - Free Report) by 39.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 248,116 shares of the company's stock after selling 165,057 shares during the period. SG Americas Securities LLC owned 0.26% of Renasant worth $8,964,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. Jain Global LLC boosted its stake in shares of Renasant by 408.5% in the third quarter. Jain Global LLC now owns 486,377 shares of the company's stock worth $17,942,000 after acquiring an additional 390,733 shares during the period. UBS Group AG raised its stake in Renasant by 27.0% during the 4th quarter. UBS Group AG now owns 367,464 shares of the company's stock valued at $12,942,000 after purchasing an additional 78,037 shares during the period. William Blair Investment Management LLC raised its stake in Renasant by 10.0% during the 4th quarter. William Blair Investment Management LLC now owns 948,159 shares of the company's stock valued at $33,394,000 after purchasing an additional 85,961 shares during the period. Algebris UK Ltd. lifted its holdings in Renasant by 40.6% in the 4th quarter. Algebris UK Ltd. now owns 215,315 shares of the company's stock worth $7,587,000 after purchasing an additional 62,183 shares in the last quarter. Finally, Heartland Advisors Inc. purchased a new position in Renasant in the 4th quarter worth approximately $6,607,000. Hedge funds and other institutional investors own 77.31% of the company's stock.
Renasant Stock Performance
NYSE RNST opened at $43.43 on Friday. The stock has a market capitalization of $4.01 billion, a PE ratio of 18.02 and a beta of 0.97. The business has a 50 day simple moving average of $40.77 and a two-hundred day simple moving average of $38.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.90 and a quick ratio of 0.89. Renasant Corp has a 1-year low of $33.04 and a 1-year high of $43.96.
Renasant (NYSE:RNST - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.84 by $0.09. The business had revenue of $278.49 million for the quarter, compared to the consensus estimate of $275.71 million. Renasant had a return on equity of 8.17% and a net margin of 14.47%.During the same quarter in the previous year, the company posted $0.65 EPS. On average, research analysts predict that Renasant Corp will post 3.73 EPS for the current fiscal year.
Renasant Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be given a $0.24 dividend. This is a boost from Renasant's previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 2.2%. The ex-dividend date is Tuesday, June 16th. Renasant's dividend payout ratio (DPR) is presently 39.83%.
Insider Buying and Selling
In other news, Director Connie L. Engel sold 1,257 shares of the company's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $40.90, for a total transaction of $51,411.30. Following the sale, the director directly owned 15,449 shares in the company, valued at approximately $631,864.10. This represents a 7.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman C Mitchell Waycaster sold 12,704 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $39.50, for a total transaction of $501,808.00. Following the completion of the transaction, the insider directly owned 183,235 shares of the company's stock, valued at approximately $7,237,782.50. The trade was a 6.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 15,611 shares of company stock worth $618,889. Insiders own 2.07% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Renasant from a "sell" rating to a "hold" rating in a report on Sunday, March 8th. Weiss Ratings reissued a "buy (b-)" rating on shares of Renasant in a report on Friday, June 5th. Hovde Group upped their target price on shares of Renasant from $44.00 to $46.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Finally, TD Cowen reaffirmed a "buy" rating on shares of Renasant in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $45.50.
Check Out Our Latest Stock Report on Renasant
About Renasant
(
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. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and equipment leasing services, as well as safe deposit and night depository facilities. It also provides commercial, financial, and agricultural loans; equipment financing and leasing; real estate1-4 family mortgage; real estatecommercial mortgage; real estateconstruction loans for the construction of single family residential properties, multi-family properties, and commercial projects; installment loans to individuals; and interim construction loans, as well as automated teller machine (ATM), online and mobile banking, call center, and treasury management services.
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