Westwood Holdings Group Inc. Cuts Stock Holdings in Renasant Co. (NASDAQ:RNST)

Westwood Holdings Group Inc. decreased its holdings in shares of Renasant Co. (NASDAQ:RNST - Free Report) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,759,003 shares of the financial services provider's stock after selling 144,462 shares during the quarter. Westwood Holdings Group Inc. owned about 2.77% of Renasant worth $62,884,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of RNST. Covestor Ltd boosted its holdings in shares of Renasant by 73.7% in the fourth quarter. Covestor Ltd now owns 1,838 shares of the financial services provider's stock valued at $66,000 after buying an additional 780 shares during the period. KBC Group NV boosted its holdings in shares of Renasant by 36.7% in the fourth quarter. KBC Group NV now owns 3,358 shares of the financial services provider's stock valued at $120,000 after buying an additional 901 shares during the period. ZWJ Investment Counsel Inc. acquired a new position in shares of Renasant in the fourth quarter valued at approximately $208,000. Cibc World Markets Corp acquired a new position in shares of Renasant in the fourth quarter valued at approximately $209,000. Finally, CIBC Asset Management Inc acquired a new position in shares of Renasant in the fourth quarter valued at approximately $220,000. Institutional investors and hedge funds own 77.31% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RNST. Keefe, Bruyette & Woods reduced their price target on shares of Renasant from $45.00 to $43.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Hovde Group upped their price target 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. Raymond James raised shares of Renasant from an "outperform" rating to a "strong-buy" rating and set a $40.00 price objective on the stock in a research report on Thursday, April 24th. Stephens upped their price target 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. Finally, Wall Street Zen downgraded shares of Renasant from a "hold" rating to a "sell" rating in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.00.

Renasant Stock Down 0.3%

NASDAQ RNST traded down $0.09 during mid-day trading on Friday, hitting $34.61. The company's stock had a trading volume of 596,982 shares, compared to its average volume of 652,685. The company's 50 day simple moving average is $32.38 and its 200 day simple moving average is $35.13. Renasant Co. has a twelve month low of $26.97 and a twelve month high of $39.63. 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 firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 10.58 and a beta of 0.86.

Renasant (NASDAQ:RNST - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.06. The firm had revenue of $170.59 million for the quarter, compared to the consensus estimate of $170.38 million. Renasant had a net margin of 17.91% and a return on equity of 6.58%. During the same period in the previous year, the firm earned $0.65 EPS. Analysts anticipate that Renasant Co. will post 2.68 earnings per share for the current year.

Renasant Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Monday, June 16th. 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.