Renasant Corporation (RNST) Director J Niles Mcneel Sells 10,000 Shares
Renasant Corporation (NASDAQ:RNST) Director J Niles Mcneel sold 10,000 shares of Renasant Corporation stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $42.39, for a total value of $423,900.00. Following the completion of the transaction, the director now owns 29,921 shares in the company, valued at approximately $1,268,351.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
J Niles Mcneel also recently made the following trade(s):
- On Monday, August 14th, J Niles Mcneel bought 23 shares of Renasant Corporation stock. The stock was bought at an average price of $40.04 per share, for a total transaction of $920.92.
Renasant Corporation (NASDAQ:RNST) traded up 0.92% during trading on Tuesday, reaching $42.78. The company’s stock had a trading volume of 91,966 shares. The stock has a market capitalization of $2.11 billion, a PE ratio of 19.45 and a beta of 1.05. Renasant Corporation has a 1-year low of $32.51 and a 1-year high of $45.31. The stock has a 50 day moving average price of $41.33 and a 200 day moving average price of $41.74.
Renasant Corporation (NASDAQ:RNST) last issued its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.08). Renasant Corporation had a return on equity of 8.57% and a net margin of 20.44%. The company had revenue of $123.43 million for the quarter, compared to analysts’ expectations of $127.07 million. During the same quarter last year, the company earned $0.59 EPS. Analysts anticipate that Renasant Corporation will post $2.31 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a dividend of $0.18 per share. The ex-dividend date was Thursday, September 14th. This represents a $0.72 annualized dividend and a yield of 1.70%. Renasant Corporation’s dividend payout ratio (DPR) is 32.88%.
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A number of hedge funds and other institutional investors have recently modified their holdings of the business. Advisor Group Inc. increased its holdings in shares of Renasant Corporation by 13.3% in the 2nd quarter. Advisor Group Inc. now owns 3,168 shares of the financial services provider’s stock valued at $138,000 after acquiring an additional 371 shares during the last quarter. New York State Teachers Retirement System increased its holdings in shares of Renasant Corporation by 5.6% in the 1st quarter. New York State Teachers Retirement System now owns 3,800 shares of the financial services provider’s stock valued at $151,000 after acquiring an additional 200 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Renasant Corporation by 7.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,792 shares of the financial services provider’s stock valued at $166,000 after acquiring an additional 264 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Renasant Corporation by 4.2% in the 1st quarter. Amalgamated Bank now owns 5,350 shares of the financial services provider’s stock valued at $212,000 after acquiring an additional 214 shares during the last quarter. Finally, Highwater Wealth Management LLC purchased a new position in shares of Renasant Corporation in the 3rd quarter valued at about $213,000. Institutional investors own 61.50% of the company’s stock.
Several equities analysts have issued reports on the company. Jefferies Group LLC reiterated a “hold” rating and issued a $44.00 target price on shares of Renasant Corporation in a research note on Friday, July 14th. Zacks Investment Research lowered Renasant Corporation from a “buy” rating to a “hold” rating in a research note on Saturday. BidaskClub lowered Renasant Corporation from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. ValuEngine upgraded Renasant Corporation from a “hold” rating to a “buy” rating in a research note on Monday, September 18th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $43.00 target price on shares of Renasant Corporation in a research note on Friday, September 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Renasant Corporation currently has a consensus rating of “Hold” and a consensus target price of $44.00.
Renasant Corporation Company Profile
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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