Renasant (NASDAQ:RNST) has been given a $47.00 price target by Hovde Group in a research report issued to clients and investors on Friday. The firm currently has a “hold” rating on the financial services provider’s stock. Hovde Group’s price objective points to a potential upside of 6.72% from the stock’s current price.
Other analysts also recently issued reports about the company. Zacks Investment Research upgraded Renasant from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Wednesday, January 10th. ValuEngine downgraded Renasant from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $43.00 price target on shares of Renasant in a report on Friday, September 29th. BidaskClub upgraded Renasant from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. Finally, Sandler O’Neill reiterated a “hold” rating and set a $45.00 price target on shares of Renasant in a report on Thursday, January 4th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $45.60.
Renasant (RNST) traded up $0.60 during midday trading on Friday, reaching $44.04. The company had a trading volume of 229,319 shares, compared to its average volume of 143,259. The firm has a market capitalization of $2,172.10, a P/E ratio of 18.20 and a beta of 1.01. Renasant has a 1-year low of $37.68 and a 1-year 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.
In related news, Director Fred F. Sharpe acquired 2,000 shares of the business’s stock in a transaction dated Friday, January 19th. The shares were bought at an average price of $43.80 per share, with a total value of $87,600.00. Following the transaction, the director now directly owns 11,666 shares of the company’s stock, valued at $510,970.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Stuart Johnson sold 2,689 shares of the stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $41.29, for a total transaction of $111,028.81. Following the transaction, the executive vice president now directly owns 54,170 shares in the company, valued at approximately $2,236,679.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,729 shares of company stock valued at $1,356,863. Company insiders own 3.86% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in RNST. Advisor Group Inc. boosted its position in shares of Renasant by 13.3% during the 2nd quarter. Advisor Group Inc. now owns 3,168 shares of the financial services provider’s stock worth $138,000 after purchasing an additional 371 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Renasant by 7.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,792 shares of the financial services provider’s stock worth $166,000 after purchasing an additional 264 shares in the last quarter. Highwater Wealth Management LLC bought a new position in shares of Renasant during the 3rd quarter worth about $213,000. Jane Street Group LLC bought a new position in shares of Renasant during the 3rd quarter worth about $217,000. Finally, Amalgamated Bank boosted its position in shares of Renasant by 1.2% during the 2nd quarter. Amalgamated Bank now owns 5,415 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 65 shares in the last quarter. 65.33% of the stock is currently owned by institutional investors.
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.