Renasant Co. (NASDAQ:RNST) Director John Creekmore Sells 3,000 Shares

Renasant Co. (NASDAQ:RNST) Director John Creekmore sold 3,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $38.00, for a total value of $114,000.00. Following the sale, the director now directly owns 24,057 shares of the company’s stock, valued at $914,166. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Renasant Trading Down 2.2 %

Shares of NASDAQ:RNST traded down $0.83 during midday trading on Thursday, hitting $37.35. The company had a trading volume of 115,040 shares, compared to its average volume of 398,924. Renasant Co. has a 12 month low of $25.07 and a 12 month high of $38.46. 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 stock has a market cap of $2.41 billion, a price-to-earnings ratio of 12.44 and a beta of 1.01. The firm has a fifty day simple moving average of $33.21 and a 200 day simple moving average of $32.01.

Renasant (NASDAQ:RNST) last issued its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. The business had revenue of $318.34 million for the quarter, compared to the consensus estimate of $184.73 million. Renasant had a return on equity of 6.70% and a net margin of 16.83%. During the same quarter last year, the business posted $0.75 EPS. On average, analysts predict that Renasant Co. will post 2.62 EPS for the current year.

Renasant Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Monday, September 16th. Renasant’s dividend payout ratio is 28.66%.

Institutional Trading of Renasant

Several hedge funds and other institutional investors have recently modified their holdings of RNST. Empowered Funds LLC increased its position in shares of Renasant by 22.2% in the first quarter. Empowered Funds LLC now owns 168,469 shares of the financial services provider’s stock valued at $5,276,000 after acquiring an additional 30,630 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Renasant by 74.7% during the first quarter. BNP Paribas Financial Markets now owns 41,701 shares of the financial services provider’s stock worth $1,306,000 after purchasing an additional 17,836 shares during the period. Edgestream Partners L.P. bought a new position in Renasant during the first quarter worth about $4,124,000. Duncan Williams Asset Management LLC grew its holdings in Renasant by 19.9% during the third quarter. Duncan Williams Asset Management LLC now owns 11,115 shares of the financial services provider’s stock worth $361,000 after purchasing an additional 1,847 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Renasant by 21.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,746,924 shares of the financial services provider’s stock worth $56,775,000 after purchasing an additional 303,945 shares during the period. Institutional investors and hedge funds own 77.31% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Truist Financial dropped their price target on Renasant from $38.00 to $37.00 and set a “hold” rating for the company in a report on Friday, September 20th. Raymond James raised Renasant from a “market perform” rating to an “outperform” rating and set a $39.00 price target for the company in a report on Wednesday, July 31st. Stephens raised Renasant from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $34.00 to $41.00 in a report on Wednesday, July 31st. Piper Sandler upgraded Renasant from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $34.00 to $40.00 in a research report on Monday, August 5th. Finally, Keefe, Bruyette & Woods upgraded Renasant from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $36.00 to $40.00 in a research report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Renasant currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.33.

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.