Stieven Capital Advisors L.P. Has $8.11 Million Stock Holdings in Renasant Co. (NASDAQ:RNST)

Stieven Capital Advisors L.P. trimmed its holdings in shares of Renasant Co. (NASDAQ:RNST - Free Report) by 33.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 239,107 shares of the financial services provider's stock after selling 120,343 shares during the period. Stieven Capital Advisors L.P. owned 0.38% of Renasant worth $8,113,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. William Blair Investment Management LLC bought a new position in Renasant in the 4th quarter valued at about $36,987,000. Deprince Race & Zollo Inc. lifted its position in shares of Renasant by 63.9% in the fourth quarter. Deprince Race & Zollo Inc. now owns 1,283,577 shares of the financial services provider's stock worth $45,888,000 after purchasing an additional 500,193 shares in the last quarter. Bank of America Corp DE increased its holdings in Renasant by 376.5% in the fourth quarter. Bank of America Corp DE now owns 605,303 shares of the financial services provider's stock worth $21,640,000 after buying an additional 478,266 shares during the last quarter. Wellington Management Group LLP acquired a new position in Renasant during the fourth quarter valued at approximately $17,088,000. Finally, Marshall Wace LLP acquired a new stake in shares of Renasant in the fourth quarter worth $13,204,000. 77.31% of the stock is owned by institutional investors and hedge funds.

Renasant Stock Down 3.7%

Shares of NASDAQ:RNST traded down $1.46 during trading on Tuesday, hitting $37.77. 613,208 shares of the company's stock traded hands, compared to its average volume of 692,443. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 11.55 and a beta of 0.90. The company has a 50-day moving average price of $35.65 and a 200-day moving average price of $34.89. 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 Co. has a 52 week low of $26.97 and a 52 week high of $39.63.

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

Renasant Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Monday, June 16th. Renasant's payout ratio is presently 27.33%.

Wall Street Analysts Forecast Growth

RNST has been the subject of several research reports. Hovde Group raised their target price on Renasant from $34.50 to $35.00 and gave the stock a "market perform" rating in a research report on Monday, April 28th. Raymond James Financial upgraded 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. Finally, Keefe, Bruyette & Woods decreased their target price on Renasant from $45.00 to $43.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $41.00.

About Renasant

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.