Two Sigma Investments LP Sells 99,767 Shares of Renasant Co. (NASDAQ:RNST)

Two Sigma Investments LP decreased its stake in Renasant Co. (NASDAQ:RNST - Free Report) by 32.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 210,173 shares of the financial services provider's stock after selling 99,767 shares during the quarter. Two Sigma Investments LP owned 0.33% of Renasant worth $7,514,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. HighTower Advisors LLC increased its position in shares of Renasant by 3.4% in 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 grew its position in Renasant by 4.1% during the 4th quarter. Bank of Montreal Can now owns 9,619 shares of the financial services provider's stock worth $344,000 after purchasing an additional 383 shares in the last quarter. Arizona State Retirement System raised its stake in Renasant by 2.4% during the 4th quarter. Arizona State Retirement System now owns 18,445 shares of the financial services provider's stock valued at $659,000 after purchasing an additional 424 shares during the period. 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 purchasing an additional 780 shares during the period. Finally, Quantinno Capital Management LP lifted its holdings in shares of Renasant by 7.0% in the fourth quarter. Quantinno Capital Management LP now owns 12,045 shares of the financial services provider's stock valued at $431,000 after purchasing an additional 792 shares in the last quarter. Hedge funds and other institutional investors own 77.31% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on RNST shares. Keefe, Bruyette & Woods reduced 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. Wall Street Zen cut shares of Renasant from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Stephens upped their price objective on shares of Renasant from $44.00 to $47.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Raymond James raised shares of Renasant from an "outperform" rating to a "strong-buy" rating and set a $40.00 target price for the company in a research note on Thursday, April 24th. Finally, Hovde Group boosted their price target on shares of Renasant from $34.50 to $35.00 and gave the company a "market perform" rating in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, two have given 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.com, the company has an average rating of "Moderate Buy" and an average target price of $41.00.

Renasant Price Performance

NASDAQ RNST traded down $0.31 on Friday, hitting $35.21. 42,241 shares of the company were exchanged, compared to its average volume of 654,973. Renasant Co. has a 1-year low of $26.97 and a 1-year high of $39.63. The firm has a 50 day moving average of $32.39 and a two-hundred day moving average of $35.07. 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 market cap of $3.34 billion, a P/E ratio of 10.79 and a beta of 0.86.

Renasant (NASDAQ:RNST - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.60 by $0.06. The company had revenue of $170.59 million during the quarter, compared to analysts' expectations of $170.38 million. Renasant had a net margin of 17.91% and a return on equity of 6.58%. During the same quarter in the previous year, the company earned $0.65 EPS. On average, equities analysts predict that Renasant Co. will post 2.68 EPS for the current year.

Renasant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $0.22 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.88 annualized dividend and a yield of 2.50%. Renasant's dividend payout ratio is currently 27.33%.

Renasant 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.