Renasant Co. $RNST Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund raised its holdings in Renasant Co. (NASDAQ:RNST) by 113.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 733,356 shares of the financial services provider’s stock after purchasing an additional 389,155 shares during the period. New York State Common Retirement Fund owned about 0.77% of Renasant worth $27,054,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Invesco Ltd. increased its stake in shares of Renasant by 365.6% in the second quarter. Invesco Ltd. now owns 2,215,665 shares of the financial services provider’s stock worth $79,609,000 after buying an additional 1,739,786 shares during the last quarter. Geode Capital Management LLC grew its holdings in Renasant by 48.0% during the 2nd quarter. Geode Capital Management LLC now owns 2,203,182 shares of the financial services provider’s stock worth $79,169,000 after acquiring an additional 714,972 shares in the last quarter. State Street Corp grew its holdings in Renasant by 14.1% during the 2nd quarter. State Street Corp now owns 4,812,696 shares of the financial services provider’s stock worth $172,920,000 after acquiring an additional 595,609 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Renasant by 48.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 910,983 shares of the financial services provider’s stock worth $32,732,000 after purchasing an additional 298,077 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Renasant by 100.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 553,572 shares of the financial services provider’s stock valued at $19,890,000 after purchasing an additional 277,211 shares in the last quarter. 77.31% of the stock is currently owned by hedge funds and other institutional investors.

Renasant Price Performance

Shares of NASDAQ:RNST opened at $37.73 on Friday. The company has a market cap of $3.59 billion, a PE ratio of 11.54 and a beta of 0.97. Renasant Co. has a fifty-two week low of $26.97 and a fifty-two week high of $40.40. The firm has a 50-day simple moving average of $36.43 and a 200 day simple moving average of $36.54. 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 earnings results on Tuesday, January 27th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. The firm had revenue of $216.11 million for the quarter, compared to analysts’ expectations of $275.40 million. Renasant had a net margin of 17.91% and a return on equity of 6.58%. During the same quarter last year, the company posted $0.73 earnings per share. On average, sell-side analysts anticipate that Renasant Co. will post 2.68 EPS for the current year.

Analyst Upgrades and Downgrades

RNST has been the subject of a number of research reports. Hovde Group lifted their price target on Renasant from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday. TD Cowen reaffirmed a “buy” rating on shares of Renasant in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $43.00.

About Renasant

Renasant Corporation is a financial holding company providing banking and related services through its primary subsidiary, Renasant Bank. With origins dating back to 1904 in Tupelo, Mississippi, the company offers a comprehensive suite of commercial and consumer banking products, including deposit accounts, lending and treasury management services. Renasant serves individuals, small businesses and corporate clients across the southeastern United States.

The company operates more than 110 banking offices across Mississippi, Alabama, Tennessee, Florida and Georgia, supplemented by a network of ATMs and digital platforms.