Renasant Corporation (NASDAQ:RNST) Director Michael D. Shmerling purchased 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was purchased at an average price of $41.50 per share, for a total transaction of $41,500.00. Following the completion of the transaction, the director now directly owns 156,347 shares in the company, valued at $6,488,400.50. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Shares of Renasant Corporation (NASDAQ RNST) traded up 0.22% during mid-day trading on Tuesday, reaching $41.66. 214,014 shares of the company’s stock traded hands. The company has a 50 day moving average of $43.15 and a 200 day moving average of $41.46. Renasant Corporation has a 12 month low of $31.56 and a 12 month high of $45.31. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 18.79 and a beta of 1.04.

Renasant Corporation (NASDAQ:RNST) last issued its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.04. Renasant Corporation had a return on equity of 8.41% and a net margin of 20.31%. The firm had revenue of $113.87 million for the quarter, compared to analyst estimates of $112.43 million. During the same period in the previous year, the firm earned $0.59 earnings per share. Analysts expect that Renasant Corporation will post $2.34 earnings per share for the current fiscal year.

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A number of institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. purchased a new position in shares of Renasant Corporation during the first quarter worth $140,000. New York State Teachers Retirement System raised its position in shares of Renasant Corporation by 5.6% in the first quarter. New York State Teachers Retirement System now owns 3,800 shares of the financial services provider’s stock worth $151,000 after buying an additional 200 shares during the last quarter. Amalgamated Bank raised its position in shares of Renasant Corporation by 4.2% in the first quarter. Amalgamated Bank now owns 5,350 shares of the financial services provider’s stock worth $212,000 after buying an additional 214 shares during the last quarter. Trust Co. of Toledo NA OH purchased a new position in shares of Renasant Corporation during the second quarter worth $214,000. Finally, Smith Shellnut Wilson LLC ADV raised its position in shares of Renasant Corporation by 4.7% in the second quarter. Smith Shellnut Wilson LLC ADV now owns 6,870 shares of the financial services provider’s stock worth $222,000 after buying an additional 309 shares during the last quarter. 66.65% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on RNST. Jefferies Group LLC reiterated a “hold” rating and issued a $44.00 price target on shares of Renasant Corporation in a research report on Friday, July 14th. Zacks Investment Research downgraded shares of Renasant Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Keefe, Bruyette & Woods set a $43.00 price target on shares of Renasant Corporation and gave the company a “hold” rating in a research report on Saturday, May 27th. ValuEngine upgraded shares of Renasant Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Finally, BidaskClub downgraded shares of Renasant Corporation from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $43.50.

About Renasant Corporation

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.

Insider Buying and Selling by Quarter for Renasant Corporation (NASDAQ:RNST)

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