Russell Investments Group Ltd. Has $2.37 Million Position in Renasant Corp. (RNST)

Russell Investments Group Ltd. increased its holdings in Renasant Corp. (NASDAQ:RNST) by 38.6% in the second quarter, HoldingsChannel.com reports. The firm owned 52,067 shares of the financial services provider’s stock after buying an additional 14,494 shares during the quarter. Russell Investments Group Ltd.’s holdings in Renasant were worth $2,371,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RNST. Wells Fargo & Company MN grew its stake in shares of Renasant by 0.3% in the first quarter. Wells Fargo & Company MN now owns 1,612,134 shares of the financial services provider’s stock worth $68,612,000 after acquiring an additional 4,802 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Renasant by 51.1% during the first quarter. SG Americas Securities LLC now owns 11,924 shares of the financial services provider’s stock valued at $507,000 after purchasing an additional 4,032 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Renasant by 2.1% during the first quarter. Swiss National Bank now owns 85,800 shares of the financial services provider’s stock valued at $3,652,000 after purchasing an additional 1,800 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Renasant by 4.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 218,468 shares of the financial services provider’s stock valued at $9,298,000 after purchasing an additional 10,210 shares in the last quarter. Finally, Aperio Group LLC lifted its holdings in Renasant by 70.5% in the first quarter. Aperio Group LLC now owns 13,937 shares of the financial services provider’s stock valued at $593,000 after acquiring an additional 5,761 shares during the period. 67.72% of the stock is owned by institutional investors.

RNST stock opened at $43.70 on Monday. Renasant Corp. has a fifty-two week low of $39.11 and a fifty-two week high of $49.78. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.92 and a current ratio of 0.95. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 18.06 and a beta of 0.88.

Renasant (NASDAQ:RNST) last posted its quarterly earnings data on Tuesday, July 17th. The financial services provider reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. Renasant had a return on equity of 8.73% and a net margin of 20.66%. The firm had revenue of $127.97 million for the quarter, compared to the consensus estimate of $127.80 million. During the same quarter last year, the company earned $0.57 earnings per share. equities analysts predict that Renasant Corp. will post 3 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Thursday, September 13th. Renasant’s dividend payout ratio (DPR) is currently 33.06%.

In related news, Director Michael D. Shmerling acquired 1,000 shares of the firm’s stock in a transaction dated Friday, August 3rd. The shares were purchased at an average price of $45.00 per share, with a total value of $45,000.00. Following the completion of the purchase, the director now directly owns 159,357 shares of the company’s stock, valued at $7,171,065. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.41% of the stock is owned by company insiders.

A number of research analysts have weighed in on RNST shares. Zacks Investment Research raised Renasant from a “sell” rating to a “hold” rating in a report on Tuesday, July 3rd. BidaskClub downgraded Renasant from a “buy” rating to a “hold” rating in a report on Tuesday, June 12th. Stephens reissued a “hold” rating and issued a $50.00 target price on shares of Renasant in a report on Monday, August 20th. Finally, Raymond James downgraded Renasant from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $47.20.

Renasant Profile

Renasant Corporation operates as a bank holding company for Renasant Bank, which 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, money market, individual retirement, and health savings accounts, as well as safe deposit and night depository facilities.

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Institutional Ownership by Quarter for Renasant (NASDAQ:RNST)

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