Victory Capital Management Inc. cut its position in Renasant Co. (NASDAQ:RNST - Free Report) by 27.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,282,940 shares of the financial services provider's stock after selling 1,252,701 shares during the period. Victory Capital Management Inc. owned approximately 5.85% of Renasant worth $110,569,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of RNST. GAMMA Investing LLC purchased a new stake in Renasant in the fourth quarter valued at approximately $25,000. Covestor Ltd boosted its holdings in Renasant by 26.6% in the third quarter. Covestor Ltd now owns 2,204 shares of the financial services provider's stock valued at $58,000 after purchasing an additional 463 shares during the last quarter. Criterion Capital Advisors LLC acquired a new stake in Renasant during the 4th quarter worth about $113,000. Bailard Inc. acquired a new position in shares of Renasant in the 4th quarter valued at about $205,000. Finally, Brookstone Capital Management purchased a new stake in shares of Renasant in the fourth quarter worth about $211,000. 77.31% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have issued reports on RNST. Stephens boosted their price target on Renasant from $36.00 to $37.00 and gave the company an "equal weight" rating in a report on Tuesday, January 30th. StockNews.com raised shares of Renasant from a "sell" rating to a "hold" rating in a report on Saturday, April 27th. Truist Financial decreased their price objective on shares of Renasant from $35.00 to $33.00 and set a "hold" rating for the company in a research report on Monday, April 1st. Finally, Keefe, Bruyette & Woods raised their target price on Renasant from $34.00 to $35.00 and gave the company a "market perform" rating in a research report on Tuesday, January 30th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $33.00.
View Our Latest Stock Report on Renasant
Renasant Price Performance
RNST stock traded down $0.01 during trading on Friday, hitting $30.09. The stock had a trading volume of 176,597 shares, compared to its average volume of 236,914. Renasant Co. has a twelve month low of $22.99 and a twelve month high of $34.85. The company's 50-day moving average price is $30.10 and its two-hundred day moving average price is $30.01. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.93 and a quick ratio of 0.92. The stock has a market capitalization of $1.69 billion, a P/E ratio of 12.24 and a beta of 1.04.
Renasant (NASDAQ:RNST - Get Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.63 by $0.02. The firm had revenue of $254.56 million during the quarter, compared to analysts' expectations of $159.60 million. Renasant had a return on equity of 7.44% and a net margin of 14.67%. During the same period in the previous year, the business earned $0.82 earnings per share. As a group, research analysts predict that Renasant Co. will post 2.62 EPS for the current fiscal year.
Renasant Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Friday, June 14th. Renasant's dividend payout ratio is currently 35.77%.
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.
Featured Articles
Before you consider Renasant, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Renasant wasn't on the list.
While Renasant currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
