Jane Street Group LLC acquired a new position in shares of Renasant Corporation (NASDAQ:RNST) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 9,625 shares of the financial services provider’s stock, valued at approximately $382,000.
Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Renasant Corporation by 44.4% in the first quarter. Vanguard Group Inc. now owns 3,410,031 shares of the financial services provider’s stock valued at $135,344,000 after buying an additional 1,048,279 shares during the period. Dimensional Fund Advisors LP boosted its stake in Renasant Corporation by 7.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,828,731 shares of the financial services provider’s stock valued at $112,273,000 after buying an additional 193,727 shares during the period. BlackRock Inc. boosted its stake in Renasant Corporation by 28,180.2% in the first quarter. BlackRock Inc. now owns 2,801,720 shares of the financial services provider’s stock valued at $111,200,000 after buying an additional 2,791,813 shares during the period. State Street Corp boosted its stake in Renasant Corporation by 26.8% in the first quarter. State Street Corp now owns 1,171,052 shares of the financial services provider’s stock valued at $46,483,000 after buying an additional 247,806 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in Renasant Corporation by 49.1% in the first quarter. Wells Fargo & Company MN now owns 956,436 shares of the financial services provider’s stock valued at $37,962,000 after buying an additional 315,049 shares during the period. 66.81% of the stock is owned by institutional investors.
Shares of Renasant Corporation (RNST) traded down 0.66% during trading on Friday, reaching $42.28. 101,806 shares of the company traded hands. The company has a market capitalization of $1.88 billion, a P/E ratio of 19.07 and a beta of 1.06. The company’s 50-day moving average price is $43.24 and its 200-day moving average price is $41.42. Renasant Corporation has a 52 week low of $31.56 and a 52 week high of $45.31.
Renasant Corporation (NASDAQ:RNST) last announced its earnings results on Tuesday, July 18th. The financial services provider reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.04. The business had revenue of $113.87 million during the quarter, compared to the consensus estimate of $112.43 million. Renasant Corporation had a return on equity of 8.41% and a net margin of 20.31%. During the same period in the prior year, the company posted $0.59 EPS. Equities research analysts forecast that Renasant Corporation will post $2.34 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 16th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Wednesday, June 14th. Renasant Corporation’s payout ratio is 32.58%.
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Several research firms have recently weighed in on RNST. Jefferies Group LLC restated a “hold” rating and issued a $44.00 price target on shares of Renasant Corporation in a report on Friday, June 9th. Zacks Investment Research upgraded shares of Renasant Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 16th. BidaskClub cut shares of Renasant Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday. Keefe, Bruyette & Woods set a $43.00 price target on shares of Renasant Corporation and gave the stock a “hold” rating in a report on Saturday, May 27th. Finally, ValuEngine raised shares of Renasant Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $43.50.
In related news, Director Fred F. Sharpe bought 4,000 shares of the company’s stock in a transaction on Monday, July 24th. The stock was bought at an average cost of $42.36 per share, for a total transaction of $169,440.00. Following the acquisition, the director now directly owns 9,666 shares in the company, valued at $409,451.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP James W. Gray sold 5,000 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $39.94, for a total value of $199,700.00. Following the completion of the sale, the executive vice president now owns 43,604 shares of the company’s stock, valued at $1,741,543.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,000 shares of company stock valued at $751,500. Corporate insiders own 3.86% of the company’s stock.
Renasant Corporation Company Profile
Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance). The Company’s segments include Community Banks, which delivers a range of banking and financial services to individuals and small to medium-sized businesses, including checking and savings accounts, business and personal loans, equipment leasing, as well as safe deposit and night depository facilities; Insurance, which includes a full service insurance agency offering all lines of commercial and personal insurance through major carriers; Wealth Management, which offers a range of fiduciary services that includes the administration and management of trust accounts, including personal and corporate benefit accounts, and custodial accounts, and Other.
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