Teachers Retirement System of The State of Kentucky Acquires 51,161 Shares of Renasant Co. (NASDAQ:RNST)

Teachers Retirement System of The State of Kentucky increased its position in Renasant Co. (NASDAQ:RNST - Free Report) by 292.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,655 shares of the financial services provider's stock after purchasing an additional 51,161 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.11% of Renasant worth $2,330,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HighTower Advisors LLC raised its stake in Renasant by 3.4% during the fourth quarter. HighTower Advisors LLC now owns 11,503 shares of the financial services provider's stock worth $411,000 after acquiring an additional 377 shares in the last quarter. Bank of Montreal Can raised its stake in Renasant by 4.1% during the fourth quarter. Bank of Montreal Can now owns 9,619 shares of the financial services provider's stock worth $344,000 after acquiring an additional 383 shares in the last quarter. CWM LLC raised its stake in Renasant by 42.7% during the first quarter. CWM LLC now owns 1,330 shares of the financial services provider's stock worth $45,000 after acquiring an additional 398 shares in the last quarter. Sheets Smith Wealth Management raised its stake in Renasant by 4.9% during the first quarter. Sheets Smith Wealth Management now owns 13,081 shares of the financial services provider's stock worth $444,000 after acquiring an additional 610 shares in the last quarter. Finally, Covestor Ltd raised its stake in Renasant by 73.7% during the fourth quarter. Covestor Ltd now owns 1,838 shares of the financial services provider's stock worth $66,000 after acquiring an additional 780 shares in the last quarter. 77.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RNST has been the subject of several recent analyst reports. Hovde Group increased their price objective on Renasant from $35.00 to $39.00 and gave the stock a "market perform" rating in a research note on Wednesday. Keefe, Bruyette & Woods dropped their price objective on Renasant from $45.00 to $43.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. Finally, Raymond James Financial restated a "strong-buy" rating on shares of Renasant in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $41.67.

Renasant Stock Up 0.8%

Shares of Renasant stock traded up $0.28 on Friday, reaching $36.68. 622,467 shares of the company were exchanged, compared to its average volume of 753,377. Renasant Co. has a one year low of $26.97 and a one year high of $39.63. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 11.22 and a beta of 0.90. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average of $36.33 and a 200 day moving average of $35.06.

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.