Peregrine Capital Management LLC reduced its stake in Renasant Co. (NASDAQ:RNST - Free Report) by 24.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 210,876 shares of the financial services provider's stock after selling 69,704 shares during the period. Peregrine Capital Management LLC owned 0.38% of Renasant worth $7,102,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Renasant by 0.6% in the third quarter. Vanguard Group Inc. now owns 6,271,748 shares of the financial services provider's stock worth $196,181,000 after acquiring an additional 38,846 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Renasant by 89.4% during the third quarter. Victory Capital Management Inc. now owns 4,535,641 shares of the financial services provider's stock valued at $118,788,000 after purchasing an additional 2,140,613 shares during the last quarter. State Street Corp boosted its holdings in Renasant by 10.8% during the first quarter. State Street Corp now owns 2,908,644 shares of the financial services provider's stock worth $97,294,000 after buying an additional 282,738 shares in the last quarter. Geode Capital Management LLC grew its position in Renasant by 4.2% in the second quarter. Geode Capital Management LLC now owns 1,142,178 shares of the financial services provider's stock worth $29,845,000 after buying an additional 46,172 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in Renasant by 5.9% in the third quarter. Ameriprise Financial Inc. now owns 862,407 shares of the financial services provider's stock worth $22,586,000 after buying an additional 47,924 shares during the last quarter. 77.31% of the stock is currently owned by institutional investors.
Renasant Stock Down 0.8 %
NASDAQ RNST traded down $0.24 during trading on Thursday, reaching $28.66. The company's stock had a trading volume of 144,096 shares, compared to its average volume of 238,260. The business has a 50-day moving average price of $30.69 and a 200-day moving average price of $29.62. Renasant Co. has a 1-year low of $22.99 and a 1-year high of $34.85. The stock has a market capitalization of $1.61 billion, a PE ratio of 11.11 and a beta of 1.03. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.19.
Renasant (NASDAQ:RNST - Get Free Report) last posted its earnings results on Wednesday, January 24th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.64 by $0.12. Renasant had a net margin of 15.94% and a return on equity of 7.98%. The firm had revenue of $230.79 million for the quarter, compared to the consensus estimate of $160.63 million. During the same period in the prior year, the business posted $0.89 earnings per share. On average, research analysts forecast that Renasant Co. will post 2.63 earnings per share for the current fiscal year.
Renasant Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.22 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.88 annualized dividend and a yield of 3.07%. Renasant's dividend payout ratio (DPR) is currently 34.11%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the company. TheStreet raised Renasant from a "c+" rating to a "b-" rating in a research note on Thursday, December 14th. Truist Financial cut their price objective on Renasant from $35.00 to $33.00 and set a "hold" rating on the stock in a report on Monday, April 1st. StockNews.com upgraded shares of Renasant from a "sell" rating to a "hold" rating in a report on Tuesday. Stephens boosted their price target on shares of Renasant from $36.00 to $37.00 and gave the company an "equal weight" rating in a report on Tuesday, January 30th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Renasant from $34.00 to $35.00 and gave the company a "market perform" rating in a research report on Tuesday, January 30th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $33.00.
Read Our Latest Stock Report on Renasant
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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