Voloridge Investment Management LLC Has $9.82 Million Holdings in Renasant Co. (NASDAQ:RNST)

Voloridge Investment Management LLC trimmed its stake in Renasant Co. (NASDAQ:RNST - Free Report) by 24.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 274,646 shares of the financial services provider's stock after selling 88,063 shares during the period. Voloridge Investment Management LLC owned approximately 0.43% of Renasant worth $9,819,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. William Blair Investment Management LLC purchased a new position in shares of Renasant in the 4th quarter valued at $36,987,000. Jennison Associates LLC increased its stake in Renasant by 204.9% during the 4th quarter. Jennison Associates LLC now owns 1,173,801 shares of the financial services provider's stock worth $41,963,000 after buying an additional 788,762 shares in the last quarter. Deprince Race & Zollo Inc. grew its position in shares of Renasant by 63.9% in the fourth quarter. Deprince Race & Zollo Inc. now owns 1,283,577 shares of the financial services provider's stock valued at $45,888,000 after purchasing an additional 500,193 shares in the last quarter. Bank of America Corp DE grew its position in Renasant by 376.5% in the fourth quarter. Bank of America Corp DE now owns 605,303 shares of the financial services provider's stock worth $21,640,000 after acquiring an additional 478,266 shares during the period. Finally, Wellington Management Group LLP acquired a new position in Renasant during the fourth quarter worth $17,088,000. 77.31% of the stock is owned by institutional investors.

Renasant Stock Down 1.2%

Renasant stock traded down $0.44 during mid-day trading on Friday, hitting $35.07. The company's stock had a trading volume of 68,156 shares, compared to its average volume of 655,080. 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 Co. has a 52-week low of $26.97 and a 52-week high of $39.63. The firm's 50 day moving average is $32.39 and its 200 day moving average is $35.07. The company has a market cap of $3.33 billion, a PE ratio of 10.76 and a beta of 0.86.

Renasant (NASDAQ:RNST - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.06. The business 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 period in the previous year, the business posted $0.65 earnings per share. On average, analysts anticipate that Renasant Co. will post 2.68 earnings per share for the current year.

Renasant Dividend Announcement

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. This represents a $0.88 annualized dividend and a yield of 2.51%. The ex-dividend date is Monday, June 16th. Renasant's dividend payout ratio (DPR) is presently 27.33%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RNST. Hovde Group lifted their target price on Renasant from $34.50 to $35.00 and gave the company a "market perform" rating in a report on Monday, April 28th. Piper Sandler lifted their target price on Renasant from $41.00 to $44.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Wall Street Zen lowered Renasant from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Raymond James raised Renasant from an "outperform" rating to a "strong-buy" rating and set a $40.00 price objective on the stock in a report on Thursday, April 24th. Finally, Stephens boosted 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 research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $41.00.

About Renasant

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.