Waverly Advisors LLC boosted its position in Renasant Co. (NASDAQ:RNST - Free Report) by 25.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,861 shares of the financial services provider's stock after buying an additional 8,562 shares during the quarter. Waverly Advisors LLC owned approximately 0.07% of Renasant worth $1,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also added to or reduced their stakes in RNST. Covestor Ltd lifted its position in Renasant by 73.7% during the fourth 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. KBC Group NV lifted its holdings in shares of Renasant by 36.7% in the 4th quarter. KBC Group NV now owns 3,358 shares of the financial services provider's stock worth $120,000 after acquiring an additional 901 shares during the last quarter. Cibc World Markets Corp bought a new stake in Renasant during the 4th quarter valued at about $209,000. CIBC Asset Management Inc bought a new stake in Renasant during the 4th quarter valued at about $220,000. Finally, Dark Forest Capital Management LP purchased a new position in Renasant during the 4th quarter valued at about $221,000. 77.31% of the stock is owned by institutional investors.
Renasant Stock Down 0.9%
Shares of RNST traded down $0.34 during mid-day trading on Wednesday, reaching $35.42. The company's stock had a trading volume of 134,024 shares, compared to its average volume of 651,896. The business has a fifty day moving average of $32.39 and a 200 day moving average of $35.08. Renasant Co. has a 1 year low of $26.97 and a 1 year high of $39.63. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 10.83 and a beta of 0.86. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.16.
Renasant (NASDAQ:RNST - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.66 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $170.38 million. During the same quarter in the prior year, the company posted $0.65 earnings per share. As a group, analysts forecast that Renasant Co. will post 2.68 earnings per share for the current fiscal year.
Renasant Dividend Announcement
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 2.48%. Renasant's dividend payout ratio is 27.33%.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on RNST. Stephens upped their price objective on shares of Renasant from $44.00 to $47.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. 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. Wall Street Zen lowered shares of Renasant from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. Hovde Group raised their target price on shares of Renasant from $34.50 to $35.00 and gave the stock a "market perform" rating in a research report on Monday, April 28th. Finally, Piper Sandler upped their target price on Renasant from $41.00 to $44.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Renasant presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.00.
Read Our Latest Stock Analysis on RNST
About Renasant
(
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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