Jane Street Group LLC Buys New Stake in Renasant Corporation (RNST)

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.

Institutional Ownership by Quarter for Renasant Corporation (NASDAQ:RNST)

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