Dimensional Fund Advisors LP Has $199.70 Million Stock Holdings in Renasant Co. $RNST

Dimensional Fund Advisors LP raised its stake in Renasant Co. (NASDAQ:RNST) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,413,327 shares of the financial services provider’s stock after purchasing an additional 23,337 shares during the period. Dimensional Fund Advisors LP owned 0.06% of Renasant worth $199,697,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its position in shares of Renasant by 12.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,825 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 306 shares in the last quarter. Resolute Wealth Strategies LLC grew its stake in shares of Renasant by 0.4% in the 2nd quarter. Resolute Wealth Strategies LLC now owns 77,499 shares of the financial services provider’s stock valued at $2,785,000 after buying an additional 318 shares during the period. PNC Financial Services Group Inc. increased its position in Renasant by 42.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,152 shares of the financial services provider’s stock valued at $42,000 after buying an additional 345 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Renasant by 68.7% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 857 shares of the financial services provider’s stock valued at $32,000 after buying an additional 349 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in Renasant by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 28,114 shares of the financial services provider’s stock worth $1,037,000 after buying an additional 394 shares during the period. Institutional investors and hedge funds own 77.31% of the company’s stock.

Insider Activity

In related news, EVP Mark Jeanfreau sold 6,000 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $37.88, for a total transaction of $227,280.00. Following the completion of the sale, the executive vice president owned 65,172 shares in the company, valued at approximately $2,468,715.36. This represents a 8.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO James C. Iv Mabry sold 12,500 shares of the stock in a transaction on Friday, January 30th. The shares were sold at an average price of $37.83, for a total value of $472,875.00. Following the completion of the sale, the chief financial officer directly owned 105,337 shares of the company’s stock, valued at $3,984,898.71. The trade was a 10.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 19,850 shares of company stock worth $752,333 over the last 90 days. 2.81% of the stock is currently owned by corporate insiders.

Renasant Trading Down 2.0%

NASDAQ:RNST opened at $37.04 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94. The firm has a 50-day moving average of $38.14 and a 200-day moving average of $36.99. The company has a market cap of $3.49 billion, a PE ratio of 11.33 and a beta of 0.97. Renasant Co. has a one year low of $26.97 and a one year high of $42.11.

Renasant (NASDAQ:RNST) last posted its earnings results on Tuesday, January 27th. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. Renasant had a net margin of 17.91% and a return on equity of 6.58%. The company had revenue of $216.11 million for the quarter, compared to analyst estimates of $275.40 million. During the same quarter in the prior year, the business posted $0.73 EPS. As a group, equities research analysts expect that Renasant Co. will post 2.68 EPS for the current fiscal year.

Renasant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.92 annualized dividend and a dividend yield of 2.5%. Renasant’s dividend payout ratio is 43.40%.

Analyst Upgrades and Downgrades

RNST has been the topic of several recent research reports. TD Cowen reiterated a “buy” rating on shares of Renasant in a report on Thursday, January 29th. Hovde Group boosted their price objective on Renasant from $41.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $43.00.

Renasant Profile

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.