Teza Capital Management LLC bought a new stake in shares of Renasant Co. (NASDAQ:RNST - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 14,432 shares of the financial services provider's stock, valued at approximately $516,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd raised its stake in Renasant by 73.7% during the 4th quarter. Covestor Ltd now owns 1,838 shares of the financial services provider's stock valued at $66,000 after acquiring an additional 780 shares in the last quarter. KBC Group NV raised its stake in Renasant by 36.7% during the 4th quarter. KBC Group NV now owns 3,358 shares of the financial services provider's stock valued at $120,000 after acquiring an additional 901 shares in the last quarter. ZWJ Investment Counsel Inc. bought a new stake in Renasant during the 4th quarter valued at $208,000. Cibc World Markets Corp bought a new stake in Renasant during the 4th quarter valued at $209,000. Finally, CIBC Asset Management Inc bought a new stake in Renasant during the 4th quarter valued at $220,000. Institutional investors own 77.31% of the company's stock.
Analyst Upgrades and Downgrades
RNST has been the topic of several research analyst reports. Wall Street Zen cut Renasant from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. Raymond James upgraded Renasant from an "outperform" rating to a "strong-buy" rating and set a $40.00 target price on the stock in a report on Thursday, April 24th. Keefe, Bruyette & Woods dropped their price target on Renasant from $45.00 to $43.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Piper Sandler lifted their price target on Renasant from $41.00 to $44.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Finally, Stephens lifted their price target on Renasant from $44.00 to $47.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. One equities 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $41.00.
Check Out Our Latest Stock Report on Renasant
Renasant Trading Down 0.3%
RNST traded down $0.09 during trading on Friday, reaching $34.61. The company had a trading volume of 596,982 shares, compared to its average volume of 654,530. The firm's 50-day simple moving average is $32.38 and its 200 day simple moving average is $35.11. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 10.58 and a beta of 0.86. Renasant Co. has a 12-month low of $26.97 and a 12-month high of $39.63. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.96.
Renasant (NASDAQ:RNST - Get Free Report) last released its earnings results on Tuesday, April 22nd. The financial services provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.06. The company had revenue of $170.59 million for the quarter, compared to analysts' expectations 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 business posted $0.65 EPS. Equities research analysts anticipate that Renasant Co. will post 2.68 earnings per share for the current year.
Renasant Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.54%. Renasant's dividend payout ratio (DPR) is presently 27.33%.
Renasant Profile
(
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. 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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