Albert J. Dale III Sells 8,000 Shares of Renasant Corp. (RNST) Stock
Renasant Corp. (NASDAQ:RNST) Director Albert J. Dale III sold 8,000 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $42.10, for a total transaction of $336,800.00. Following the completion of the sale, the director now owns 40,620 shares of the company’s stock, valued at $1,710,102. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Renasant Corp. (NASDAQ:RNST) traded up 0.40% during midday trading on Tuesday, hitting $42.15. 143,823 shares of the stock were exchanged. Renasant Corp. has a 12-month low of $30.21 and a 12-month high of $44.65. The firm has a 50-day moving average price of $41.24 and a 200 day moving average price of $40.47. The firm has a market cap of $1.87 billion, a PE ratio of 19.26 and a beta of 1.02.
Renasant Corp. (NASDAQ:RNST) last posted its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The company had revenue of $106.04 million during the quarter, compared to analysts’ expectations of $109.87 million. Renasant Corp. had a return on equity of 8.75% and a net margin of 19.50%. During the same quarter in the previous year, the business earned $0.54 EPS. Analysts predict that Renasant Corp. will post $2.23 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.71%. The ex-dividend date is Wednesday, June 14th. Renasant Corp.’s dividend payout ratio (DPR) is 33.33%.
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A number of brokerages have recently commented on RNST. Zacks Investment Research upgraded shares of Renasant Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday. Jefferies Group LLC reiterated a “hold” rating and issued a $44.00 target price on shares of Renasant Corp. in a research report on Wednesday, April 5th.
Hedge funds have recently bought and sold shares of the stock. Peregrine Capital Management LLC acquired a new stake in Renasant Corp. during the third quarter valued at approximately $10,426,000. UBS Asset Management Americas Inc. boosted its stake in Renasant Corp. by 12.6% in the third quarter. UBS Asset Management Americas Inc. now owns 16,099 shares of the financial services provider’s stock valued at $541,000 after buying an additional 1,800 shares during the period. BlackRock Advisors LLC boosted its stake in Renasant Corp. by 14.8% in the third quarter. BlackRock Advisors LLC now owns 21,752 shares of the financial services provider’s stock valued at $732,000 after buying an additional 2,800 shares during the period. BlackRock Investment Management LLC boosted its stake in Renasant Corp. by 1.1% in the third quarter. BlackRock Investment Management LLC now owns 169,597 shares of the financial services provider’s stock valued at $5,704,000 after buying an additional 1,827 shares during the period. Finally, BlackRock Inc. boosted its stake in Renasant Corp. by 4.0% in the third quarter. BlackRock Inc. now owns 10,443 shares of the financial services provider’s stock valued at $351,000 after buying an additional 406 shares during the period. Institutional investors own 59.29% of the company’s stock.
About Renasant Corp.
Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance). The Company’s segments include Community Banks, which delivers a range of banking and financial services to individuals and small to medium-sized businesses, including checking and savings accounts, business and personal loans, equipment leasing, as well as safe deposit and night depository facilities; Insurance, which includes a full service insurance agency offering all lines of commercial and personal insurance through major carriers; Wealth Management, which offers a range of fiduciary services that includes the administration and management of trust accounts, including personal and corporate benefit accounts, and custodial accounts, and Other.
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