Bridgeway Capital Management LLC Buys 25,829 Shares of Renasant Corp $RNST

Bridgeway Capital Management LLC raised its stake in Renasant Corp (NYSE:RNST) by 5.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 496,867 shares of the company’s stock after acquiring an additional 25,829 shares during the period. Bridgeway Capital Management LLC owned about 0.52% of Renasant worth $17,500,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its position in Renasant by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 5,413,327 shares of the company’s stock valued at $199,697,000 after acquiring an additional 23,337 shares during the period. State Street Corp grew its position in Renasant by 14.1% in the second quarter. State Street Corp now owns 4,812,696 shares of the company’s stock valued at $172,920,000 after acquiring an additional 595,609 shares during the period. Wellington Management Group LLP grew its position in Renasant by 15.3% in the third quarter. Wellington Management Group LLP now owns 2,962,781 shares of the company’s stock valued at $109,297,000 after acquiring an additional 394,249 shares during the period. Invesco Ltd. grew its position in Renasant by 0.6% in the third quarter. Invesco Ltd. now owns 2,229,966 shares of the company’s stock valued at $82,263,000 after acquiring an additional 14,301 shares during the period. Finally, Channing Capital Management LLC grew its position in Renasant by 35.0% in the fourth quarter. Channing Capital Management LLC now owns 2,225,536 shares of the company’s stock valued at $78,383,000 after acquiring an additional 576,986 shares during the period. 77.31% of the stock is currently owned by institutional investors.

Renasant Price Performance

Shares of RNST stock opened at $41.24 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.89 and a current ratio of 0.90. Renasant Corp has a 52 week low of $33.04 and a 52 week high of $43.50. The stock has a market capitalization of $3.81 billion, a PE ratio of 17.11 and a beta of 0.97. The stock’s fifty day moving average is $40.30 and its 200-day moving average is $38.32.

Renasant (NYSE:RNST) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.09. Renasant had a return on equity of 8.17% and a net margin of 14.47%.The business had revenue of $278.49 million for the quarter, compared to analyst estimates of $275.71 million. During the same quarter in the prior year, the firm posted $0.65 earnings per share. Equities research analysts expect that Renasant Corp will post 3.73 EPS for the current fiscal year.

Renasant Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. This is a boost from Renasant’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Tuesday, June 16th. Renasant’s payout ratio is currently 39.83%.

Insider Activity

In other news, Director Albert J. Dale III sold 1,650 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $39.80, for a total transaction of $65,670.00. Following the transaction, the director owned 40,075 shares of the company’s stock, valued at $1,594,985. This represents a 3.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman C Mitchell Waycaster sold 12,704 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $39.50, for a total value of $501,808.00. Following the transaction, the insider directly owned 183,235 shares in the company, valued at $7,237,782.50. This trade represents a 6.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 15,611 shares of company stock valued at $618,889 over the last 90 days. 2.07% of the stock is owned by company insiders.

Analyst Ratings Changes

RNST has been the topic of several research analyst reports. TD Cowen restated a “buy” rating on shares of Renasant in a report on Thursday, April 30th. Wall Street Zen upgraded Renasant from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Renasant in a report on Friday, June 5th. Finally, Hovde Group increased their target price on Renasant from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $45.50.

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. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and equipment leasing services, as well as safe deposit and night depository facilities. It also provides commercial, financial, and agricultural loans; equipment financing and leasing; real estate–1-4 family mortgage; real estate–commercial mortgage; real estate–construction loans for the construction of single family residential properties, multi-family properties, and commercial projects; installment loans to individuals; and interim construction loans, as well as automated teller machine (ATM), online and mobile banking, call center, and treasury management services.