Swiss National Bank Lowers Stock Position in Renasant Co. (NASDAQ:RNST)

Swiss National Bank decreased its holdings in Renasant Co. (NASDAQ:RNST) by 10.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,600 shares of the financial services provider’s stock after selling 12,700 shares during the quarter. Swiss National Bank owned about 0.20% of Renasant worth $3,725,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. GAMMA Investing LLC purchased a new stake in shares of Renasant during the fourth quarter worth approximately $25,000. Covestor Ltd raised its position in Renasant by 26.6% during the 3rd quarter. Covestor Ltd now owns 2,204 shares of the financial services provider’s stock worth $58,000 after buying an additional 463 shares during the last quarter. Criterion Capital Advisors LLC acquired a new stake in shares of Renasant in the 4th quarter worth $113,000. Bailard Inc. purchased a new stake in shares of Renasant in the fourth quarter valued at about $205,000. Finally, Brookstone Capital Management acquired a new position in shares of Renasant during the fourth quarter worth about $211,000. Institutional investors and hedge funds own 77.31% of the company’s stock.

Analyst Ratings Changes

RNST has been the subject of a number of recent analyst reports. StockNews.com raised Renasant from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. Keefe, Bruyette & Woods upped their price objective on Renasant from $34.00 to $35.00 and gave the stock a “market perform” rating in a report on Tuesday, January 30th. Truist Financial reduced their target price on Renasant from $35.00 to $33.00 and set a “hold” rating for the company in a report on Monday, April 1st. Finally, Stephens upped their price target on shares of Renasant from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $33.00.

Renasant Trading Down 0.7 %

NASDAQ:RNST opened at $30.72 on Tuesday. Renasant Co. has a 52-week low of $22.99 and a 52-week high of $34.85. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.18. The stock has a fifty day simple moving average of $29.98 and a 200-day simple moving average of $30.58. The company has a market capitalization of $1.73 billion, a PE ratio of 12.49 and a beta of 1.04.

Renasant (NASDAQ:RNST) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.02. The firm had revenue of $254.56 million during the quarter, compared to the consensus estimate of $159.60 million. Renasant had a return on equity of 7.44% and a net margin of 14.67%. During the same period in the previous year, the firm posted $0.82 EPS. On average, equities research analysts expect that Renasant Co. will post 2.62 earnings per share for the current fiscal year.

Renasant Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Friday, June 14th. Renasant’s payout ratio is 35.77%.

Renasant Profile

Renasant Corporation operates as a bank holding company for Renasant Bank that provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. The company operates through Community Banks, Insurance, and Wealth Management segments. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and factoring equipment leasing services, as well as safe deposit and night depository facilities.