First Trust Advisors LP cut its holdings in shares of Renasant Corp. (NASDAQ:RNST) by 10.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 85,508 shares of the financial services provider’s stock after selling 9,511 shares during the quarter. First Trust Advisors LP owned 0.15% of Renasant worth $2,581,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc lifted its holdings in Renasant by 1.3% during the 3rd quarter. Vanguard Group Inc now owns 4,098,733 shares of the financial services provider’s stock worth $168,909,000 after buying an additional 54,183 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Renasant by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,098,733 shares of the financial services provider’s stock worth $168,909,000 after buying an additional 54,183 shares in the last quarter. BlackRock Inc. lifted its holdings in Renasant by 2.6% during the 3rd quarter. BlackRock Inc. now owns 3,332,986 shares of the financial services provider’s stock worth $137,353,000 after buying an additional 83,237 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Renasant by 0.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,267,586 shares of the financial services provider’s stock worth $134,657,000 after buying an additional 24,889 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Renasant by 4.5% during the 3rd quarter. Wells Fargo & Company MN now owns 1,713,831 shares of the financial services provider’s stock worth $70,627,000 after buying an additional 73,172 shares in the last quarter. Institutional investors own 60.03% of the company’s stock.
In other news, EVP James W. Gray sold 2,504 shares of the firm’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $38.33, for a total value of $95,978.32. Following the sale, the executive vice president now directly owns 58,072 shares in the company, valued at approximately $2,225,899.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.41% of the stock is currently owned by company insiders.
Shares of RNST opened at $37.76 on Friday. Renasant Corp. has a twelve month low of $28.02 and a twelve month high of $49.78. The firm has a market capitalization of $2.21 billion, a PE ratio of 12.59 and a beta of 1.24. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13.
Renasant (NASDAQ:RNST) last announced its quarterly earnings data on Tuesday, January 22nd. The financial services provider reported $0.78 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.78. Renasant had a net margin of 24.19% and a return on equity of 8.85%. The business had revenue of $151.83 million for the quarter, compared to analyst estimates of $152.15 million. During the same period last year, the business earned $0.33 EPS. Equities analysts expect that Renasant Corp. will post 3.21 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Thursday, March 21st will be issued a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, March 20th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.22%. Renasant’s payout ratio is 28.00%.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Renasant from a “sell” rating to a “hold” rating in a report on Wednesday. TheStreet upgraded shares of Renasant from a “c+” rating to a “b-” rating in a report on Wednesday, February 20th. BidaskClub upgraded shares of Renasant from a “sell” rating to a “hold” rating in a report on Wednesday, February 20th. Hovde Group restated a “market perform” rating and issued a $38.00 price objective (up from $34.00) on shares of Renasant in a report on Monday, January 28th. Finally, Stephens set a $36.00 price objective on shares of Renasant and gave the company a “hold” rating in a report on Tuesday, January 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $41.00.
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Renasant Corporation operates as a bank holding company for Renasant Bank, which provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings, money market, individual retirement, and health savings accounts, as well as safe deposit and night depository facilities.
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