Barclays PLC Grows Stock Holdings in Renasant Co. (NASDAQ:RNST)

Barclays PLC lifted its holdings in shares of Renasant Co. (NASDAQ:RNST - Free Report) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,843 shares of the financial services provider's stock after buying an additional 10,626 shares during the period. Barclays PLC owned approximately 0.23% of Renasant worth $5,285,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RNST. JPMorgan Chase & Co. raised its stake in shares of Renasant by 81.1% in the third quarter. JPMorgan Chase & Co. now owns 263,353 shares of the financial services provider's stock worth $8,559,000 after buying an additional 117,950 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Renasant by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 308,195 shares of the financial services provider's stock worth $11,018,000 after buying an additional 8,710 shares during the last quarter. Franklin Resources Inc. raised its holdings in Renasant by 122.0% during the 3rd quarter. Franklin Resources Inc. now owns 27,669 shares of the financial services provider's stock valued at $910,000 after buying an additional 15,203 shares during the period. Equitable Trust Co. bought a new stake in shares of Renasant in the 4th quarter worth about $248,000. Finally, BankPlus Trust Department purchased a new position in shares of Renasant during the fourth quarter valued at approximately $399,000. Institutional investors own 77.31% of the company's stock.

Renasant Price Performance

Shares of Renasant stock traded up $0.30 during trading hours on Thursday, reaching $32.37. The stock had a trading volume of 200,599 shares, compared to its average volume of 625,708. The firm has a market capitalization of $2.06 billion, a PE ratio of 9.89 and a beta of 0.93. The stock's 50 day moving average is $32.50 and its 200 day moving average is $35.03. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. Renasant Co. has a twelve month low of $26.97 and a twelve month high of $39.63.

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

Renasant Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 2.72%. The ex-dividend date of this dividend is Monday, June 16th. Renasant's payout ratio is 27.33%.

Insider Activity at Renasant

In other news, CAO Kelly Hutcheson sold 1,310 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $36.72, for a total value of $48,103.20. Following the completion of the sale, the chief accounting officer now directly owns 17,586 shares in the company, valued at $645,757.92. This represents a 6.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.81% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Piper Sandler boosted their target price on shares of Renasant from $41.00 to $44.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $46.00 price objective (up previously from $45.00) on shares of Renasant in a research note on Thursday, January 30th. StockNews.com downgraded shares of Renasant from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. 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. Finally, Hovde Group increased their price objective on Renasant from $34.50 to $35.00 and gave the company a "market perform" rating in a report on Monday. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.50.

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.