UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $5.94 Million Stock Holdings in Renasant Co. (NASDAQ:RNST)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Renasant Co. (NASDAQ:RNST - Free Report) by 17.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 166,033 shares of the financial services provider's stock after buying an additional 24,897 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.26% of Renasant worth $5,936,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of RNST. Principal Financial Group Inc. raised its holdings in Renasant by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 308,195 shares of the financial services provider's stock worth $11,018,000 after purchasing an additional 8,710 shares in the last quarter. Equitable Trust Co. purchased a new stake in Renasant in the fourth quarter valued at approximately $248,000. Ameriprise Financial Inc. lifted its position in Renasant by 38.9% during the fourth quarter. Ameriprise Financial Inc. now owns 209,083 shares of the financial services provider's stock valued at $7,475,000 after buying an additional 58,526 shares in the last quarter. BankPlus Trust Department bought a new position in shares of Renasant during the fourth quarter worth about $399,000. Finally, Bank of America Corp DE lifted its holdings in shares of Renasant by 376.5% in the 4th quarter. Bank of America Corp DE now owns 605,303 shares of the financial services provider's stock worth $21,640,000 after purchasing an additional 478,266 shares during the last quarter. 77.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RNST has been the topic of several analyst reports. Hovde Group increased their price target on shares of Renasant from $34.50 to $35.00 and gave the stock a "market perform" rating in a research note on Monday, April 28th. Raymond James upgraded shares of Renasant from an "outperform" rating to a "strong-buy" rating and set a $40.00 price target on the stock in a research note on Thursday, April 24th. Finally, Keefe, Bruyette & Woods cut their target price on Renasant from $45.00 to $43.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Renasant currently has a consensus rating of "Moderate Buy" and an average price target of $41.00.

Renasant Price Performance

Shares of NASDAQ:RNST traded down $0.17 during midday trading on Thursday, hitting $34.64. 174,034 shares of the stock were exchanged, compared to its average volume of 660,947. Renasant Co. has a twelve month low of $26.97 and a twelve month high of $39.63. The stock has a market cap of $3.29 billion, a P/E ratio of 10.59 and a beta of 0.86. The company has a 50 day moving average price of $32.39 and a 200-day moving average price of $35.01. 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 (NASDAQ:RNST - Get Free Report) last announced its quarterly earnings data 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. Renasant had a return on equity of 6.58% and a net margin of 17.91%. The firm had revenue of $170.59 million during the quarter, compared to analyst estimates of $170.38 million. During the same period in the previous year, the company earned $0.65 earnings per share. On average, research analysts forecast 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. Investors of record on Monday, June 16th will be issued a $0.22 dividend. The ex-dividend date 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 is 27.33%.

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.