TD Asset Management Inc Acquires Shares of 85,284 Renasant Co. $RNST

Key Points

• TD Asset Management Inc has acquired 85,284 shares of Renasant Co. (NASDAQ:RNST), valued at approximately $3,064,000, increasing its ownership to about 0.09% as of the recent SEC filing.
• Renasant recently announced a quarterly dividend of $0.22 per share, which reflects an annualized yield of 2.5% and a dividend payout ratio of 34.65%.
• Equities analysts have generally rated Renasant positively, with a consensus rating of "Buy" and a price target of $43.00, while one analyst assigned a "Strong Buy" rating.

TD Asset Management Inc acquired a new stake in Renasant Co. (NASDAQ:RNST - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 85,284 shares of the financial services provider's stock, valued at approximately $3,064,000. TD Asset Management Inc owned about 0.09% of Renasant as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Quantbot Technologies LP bought a new position in Renasant in the 1st quarter valued at $28,000. CWM LLC grew its position in shares of Renasant by 42.7% during the 1st quarter. CWM LLC now owns 1,330 shares of the financial services provider's stock worth $45,000 after buying an additional 398 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Renasant by 49.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,489 shares of the financial services provider's stock worth $54,000 after buying an additional 493 shares in the last quarter. State of Wyoming bought a new position in shares of Renasant during the 1st quarter worth $51,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Renasant during the 1st quarter worth $54,000. Institutional investors own 77.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Hovde Group increased their price target on Renasant from $35.00 to $39.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 23rd. TD Cowen assumed coverage on Renasant in a research report on Thursday, September 25th. They set a "buy" rating and a $45.00 price target on the stock. Cowen assumed coverage on Renasant in a research report on Wednesday, September 24th. They set a "buy" rating on the stock. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Renasant in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Renasant has a consensus rating of "Buy" and a consensus price target of $43.00.

Renasant Price Performance

Shares of RNST stock opened at $34.92 on Tuesday. Renasant Co. has a 1-year low of $26.97 and a 1-year high of $40.40. The stock's 50-day moving average is $37.57 and its 200 day moving average is $35.63. The company has a market cap of $3.32 billion, a P/E ratio of 10.68 and a beta of 0.89. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94.

Renasant Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a yield of 2.5%. Renasant's dividend payout ratio (DPR) is presently 34.65%.

Renasant Company 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.

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