Westwood Holdings Group Inc. Has $62.88 Million Stock Position in Renasant Co. (NASDAQ:RNST)

Westwood Holdings Group Inc. cut its position in shares of Renasant Co. (NASDAQ:RNST - Free Report) by 7.6% during the 4th quarter, according to the company in its most recent filing with the 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 2.77% of Renasant worth $62,884,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the stock. Covestor Ltd grew its holdings in shares of 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 buying an additional 780 shares in the last quarter. KBC Group NV grew its holdings in shares of Renasant by 36.7% during 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 in the last quarter. ZWJ Investment Counsel Inc. acquired a new stake in Renasant during the fourth quarter valued at $208,000. Cibc World Markets Corp acquired a new stake in Renasant during the fourth quarter valued at $209,000. Finally, CIBC Asset Management Inc acquired a new stake in Renasant during the fourth quarter valued at $220,000. 77.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Renasant

In other Renasant news, CAO Kelly Hutcheson sold 1,310 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $36.72, for a total transaction of $48,103.20. Following the completion of the sale, the chief accounting officer now owns 17,586 shares in the company, valued at approximately $645,757.92. The trade was a 6.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of 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 report on Tuesday, May 6th. Hovde Group boosted their price target on Renasant from $34.50 to $35.00 and gave the stock a "market perform" rating in a research report on Monday, April 28th. Wall Street Zen cut Renasant from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. Piper Sandler boosted their price target on Renasant from $41.00 to $44.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Finally, Raymond James raised Renasant from an "outperform" rating to a "strong-buy" rating and set a $40.00 price target for the company in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $41.00.

Renasant Trading Up 0.1%

Shares of NASDAQ:RNST traded up $0.02 during trading on Thursday, hitting $34.75. 599,750 shares of the company's stock were exchanged, compared to its average volume of 650,995. 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 cap of $2.21 billion, a P/E ratio of 10.63 and a beta of 0.86. The firm has a 50-day moving average price of $32.38 and a two-hundred day moving average price of $35.13. Renasant Co. has a 1-year low of $26.97 and a 1-year high of $39.63.

Renasant (NASDAQ:RNST - Get Free Report) last released its earnings results 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. The firm had revenue of $170.59 million during the quarter, compared to analyst estimates 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 business earned $0.65 EPS. Equities analysts predict that Renasant Co. will post 2.68 earnings per share for the current year.

Renasant Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend is Monday, June 16th. Renasant's 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.