Renasant Corp. (RNST) Director Acquires $87,600.00 in Stock

Renasant Corp. (NASDAQ:RNST) Director Fred F. Sharpe bought 2,000 shares of the company’s stock in a transaction on Friday, January 19th. The stock was bought at an average cost of $43.80 per share, with a total value of $87,600.00. Following the completion of the acquisition, the director now owns 11,666 shares of the company’s stock, valued at approximately $510,970.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Renasant Corp. (NASDAQ RNST) traded up $0.60 during mid-day trading on Friday, hitting $44.04. 229,319 shares of the stock traded hands, compared to its average volume of 199,854. The firm has a market capitalization of $2,170.00, a price-to-earnings ratio of 22.24 and a beta of 1.01. Renasant Corp. has a twelve month low of $37.68 and a twelve month high of $45.31. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.14.

Renasant (NASDAQ:RNST) last released its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.08). The business had revenue of $123.43 million during the quarter, compared to analyst estimates of $127.07 million. Renasant had a net margin of 18.19% and a return on equity of 8.45%. During the same quarter in the prior year, the company earned $0.59 earnings per share. sell-side analysts expect that Renasant Corp. will post 3.07 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 15th were given a dividend of $0.19 per share. The ex-dividend date was Thursday, December 14th. This represents a $0.76 dividend on an annualized basis and a yield of 1.73%. This is a positive change from Renasant’s previous quarterly dividend of $0.18. Renasant’s dividend payout ratio (DPR) is 38.38%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. boosted its position in Renasant by 13.3% during the second quarter. Advisor Group Inc. now owns 3,168 shares of the financial services provider’s stock worth $138,000 after acquiring an additional 371 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in Renasant by 7.5% during the second quarter. Ameritas Investment Partners Inc. now owns 3,792 shares of the financial services provider’s stock worth $166,000 after acquiring an additional 264 shares during the last quarter. Highwater Wealth Management LLC acquired a new stake in Renasant during the third quarter worth approximately $213,000. Jane Street Group LLC acquired a new stake in Renasant during the third quarter worth approximately $217,000. Finally, Amalgamated Bank boosted its position in Renasant by 1.2% during the second quarter. Amalgamated Bank now owns 5,415 shares of the financial services provider’s stock worth $237,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 65.33% of the company’s stock.

Several research firms have recently commented on RNST. Hovde Group set a $47.00 price target on shares of Renasant and gave the company a “hold” rating in a research report on Friday. BidaskClub upgraded shares of Renasant from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. Zacks Investment Research upgraded shares of Renasant from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research report on Wednesday, January 10th. Sandler O’Neill reiterated a “hold” rating and issued a $45.00 price target on shares of Renasant in a research report on Thursday, January 4th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $45.00 price target on shares of Renasant in a research report on Friday, December 22nd. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $45.60.

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About Renasant

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 (NASDAQ:RNST)

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