Silvercrest Asset Management Group LLC Purchases 164,534 Shares of Renasant Co. (NASDAQ:RNST)

Silvercrest Asset Management Group LLC raised its position in shares of Renasant Co. (NASDAQ:RNST - Free Report) by 55.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 458,663 shares of the financial services provider's stock after acquiring an additional 164,534 shares during the period. Silvercrest Asset Management Group LLC owned approximately 0.72% of Renasant worth $16,397,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Covestor Ltd increased its position in 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 acquiring an additional 780 shares during the last quarter. KBC Group NV boosted its stake 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 purchasing an additional 901 shares during the period. ZWJ Investment Counsel Inc. purchased a new stake in shares of Renasant during the fourth quarter valued at $208,000. Cibc World Markets Corp purchased a new stake in shares of Renasant during the fourth quarter valued at $209,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of Renasant during the fourth quarter valued at $220,000. Institutional investors own 77.31% of the company's stock.

Insider Activity

In other news, CAO Kelly Hutcheson sold 1,310 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $36.72, for a total transaction of $48,103.20. Following the transaction, the chief accounting officer now 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.81% of the company's stock.

Renasant Stock Up 0.8%

NASDAQ:RNST opened at $35.91 on Friday. Renasant Co. has a 1-year low of $26.97 and a 1-year high of $39.63. The company has a 50-day moving average of $32.28 and a 200 day moving average of $35.09. The firm has a market cap of $2.29 billion, a PE ratio of 10.98 and a beta of 0.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94.

Renasant (NASDAQ:RNST - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.60 by $0.06. The business 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 period in the prior year, the firm posted $0.65 earnings per share. As a group, research analysts anticipate that Renasant Co. will post 2.68 EPS for the current fiscal year.

Renasant Announces Dividend

The company also recently declared 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 2.45%. The ex-dividend date is Monday, June 16th. Renasant's payout ratio is 27.33%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on RNST shares. Stephens boosted their target price 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. 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 lowered their target price on shares of Renasant from $45.00 to $43.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. StockNews.com lowered shares of Renasant from a "hold" rating to a "sell" rating in a research note on Friday, January 31st. Finally, Hovde Group boosted their target price on shares of Renasant from $34.50 to $35.00 and gave the company a "market perform" rating in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $41.00.

About Renasant

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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