Renasant (RNST) Lifted to “Hold” at BidaskClub
Renasant (NASDAQ:RNST) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Thursday.
RNST has been the subject of several other reports. Zacks Investment Research raised Renasant from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Wednesday. ValuEngine raised Renasant from a “hold” rating to a “buy” rating in a report on Monday, September 18th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $43.00 price target on shares of Renasant in a report on Friday, September 29th. Finally, Sandler O’Neill reaffirmed a “hold” rating and issued a $45.00 price objective on shares of Renasant in a report on Thursday, January 4th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $45.25.
Renasant (NASDAQ RNST) traded up $0.17 during trading hours on Thursday, reaching $43.71. The company had a trading volume of 163,155 shares, compared to its average volume of 166,083. The firm has a market cap of $2,160.00, a PE ratio of 19.96 and a beta of 1.01. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.91 and a current ratio of 0.93. Renasant has a 1-year low of $37.68 and a 1-year high of $45.31.
In related news, Director Michael D. Shmerling acquired 1,000 shares of the company’s stock in a transaction on Friday, November 10th. The stock was purchased at an average cost of $39.40 per share, with a total value of $39,400.00. Following the acquisition, the director now directly owns 157,347 shares of the company’s stock, valued at $6,199,471.80. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director J Niles Mcneel sold 10,000 shares of Renasant stock in a transaction on 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 directly owns 29,921 shares of the company’s stock, valued at $1,268,351.19. The disclosure for this sale can be found here. Insiders sold a total of 32,729 shares of company stock valued at $1,356,863 over the last ninety days. Insiders own 3.86% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in RNST. Schwab Charles Investment Management Inc. raised its holdings in Renasant by 3.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 182,292 shares of the financial services provider’s stock valued at $7,974,000 after acquiring an additional 6,157 shares in the last quarter. Rhumbline Advisers raised its holdings in Renasant by 4.4% in the 2nd quarter. Rhumbline Advisers now owns 52,615 shares of the financial services provider’s stock valued at $2,301,000 after acquiring an additional 2,200 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Renasant by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 297,139 shares of the financial services provider’s stock valued at $12,997,000 after purchasing an additional 6,792 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Renasant by 1.1% in the 2nd quarter. Legal & General Group Plc now owns 16,021 shares of the financial services provider’s stock valued at $702,000 after purchasing an additional 178 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Renasant by 123.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,466 shares of the financial services provider’s stock valued at $239,000 after purchasing an additional 3,016 shares during the last quarter. 64.66% of the stock is owned by hedge funds and other institutional investors.
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Renasant 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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