7,800 Shares in Renasant Co. $RNST Purchased by CreativeOne Wealth LLC

CreativeOne Wealth LLC acquired a new stake in Renasant Co. (NASDAQ:RNST) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 7,800 shares of the financial services provider’s stock, valued at approximately $280,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of RNST. Quantbot Technologies LP acquired a new stake in shares of Renasant in the first quarter valued at approximately $28,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Renasant in the 2nd quarter worth approximately $37,000. CWM LLC increased its position in Renasant by 42.7% in the 1st quarter. CWM LLC now owns 1,330 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 398 shares during the period. GAMMA Investing LLC raised its stake in Renasant by 49.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,489 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 493 shares in the last quarter. Finally, State of Wyoming acquired a new position in Renasant during the 1st quarter worth $51,000. Institutional investors own 77.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Hovde Group raised Renasant from a “market perform” rating to an “outperform” rating and raised their price target for the company from $40.00 to $41.00 in a report on Thursday, October 30th. Cowen began coverage on shares of Renasant in a research report on Wednesday, September 24th. They issued a “buy” rating for the company. Finally, TD Cowen dropped their price target on shares of Renasant from $45.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, Renasant currently has an average rating of “Buy” and an average target price of $43.17.

Renasant Trading Down 0.4%

Shares of RNST stock opened at $35.44 on Monday. The stock has a 50-day simple moving average of $35.25 and a 200 day simple moving average of $36.38. The stock has a market capitalization of $3.37 billion, a P/E ratio of 10.84 and a beta of 0.98. Renasant Co. has a fifty-two week low of $26.97 and a fifty-two week high of $40.40. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.16.

Renasant (NASDAQ:RNST) last issued its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.02). Renasant had a net margin of 17.91% and a return on equity of 6.58%. The business had revenue of $269.55 million during the quarter, compared to analyst estimates of $271.96 million. During the same period in the previous year, the company posted $1.18 earnings per share. On average, sell-side analysts expect that Renasant Co. will post 2.68 earnings per share for the current fiscal year.

Renasant Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Thursday, December 18th will be issued a dividend of $0.23 per share. The ex-dividend date is Thursday, December 18th. This is a positive change from Renasant’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 2.6%. Renasant’s payout ratio is 46.23%.

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.