Peregrine Capital Management LLC Grows Position in Renasant Corp. (NASDAQ:RNST)

Peregrine Capital Management LLC lifted its stake in Renasant Corp. (NASDAQ:RNST) by 1.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 225,890 shares of the financial services provider’s stock after buying an additional 3,207 shares during the quarter. Peregrine Capital Management LLC’s holdings in Renasant were worth $5,625,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Chartwell Investment Partners LLC lifted its holdings in shares of Renasant by 23.0% in the second quarter. Chartwell Investment Partners LLC now owns 364,672 shares of the financial services provider’s stock worth $9,080,000 after buying an additional 68,189 shares in the last quarter. GWM Advisors LLC purchased a new position in shares of Renasant in the second quarter worth $235,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Renasant by 82.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,798 shares of the financial services provider’s stock worth $194,000 after buying an additional 3,515 shares in the last quarter. BancorpSouth Bank raised its stake in Renasant by 3.3% during the second quarter. BancorpSouth Bank now owns 96,733 shares of the financial services provider’s stock valued at $2,409,000 after purchasing an additional 3,115 shares in the last quarter. Finally, Strs Ohio raised its stake in Renasant by 8.9% during the second quarter. Strs Ohio now owns 31,800 shares of the financial services provider’s stock valued at $791,000 after purchasing an additional 2,600 shares in the last quarter. 66.58% of the stock is currently owned by hedge funds and other institutional investors.

RNST stock opened at $23.23 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 0.18. Renasant Corp. has a twelve month low of $18.22 and a twelve month high of $36.84. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 13.58 and a beta of 1.35. The firm’s fifty day simple moving average is $23.48 and its two-hundred day simple moving average is $25.91.

Renasant (NASDAQ:RNST) last posted its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.06. Renasant had a net margin of 14.07% and a return on equity of 5.60%. The business had revenue of $169.95 million for the quarter, compared to analysts’ expectations of $147.73 million. During the same quarter in the previous year, the business posted $0.82 earnings per share. As a group, equities research analysts expect that Renasant Corp. will post 1.59 EPS for the current year.

RNST has been the topic of a number of recent research reports. BidaskClub downgraded shares of Renasant from a “sell” rating to a “strong sell” rating in a research note on Friday, May 8th. Zacks Investment Research raised shares of Renasant from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 1st. ValuEngine raised shares of Renasant from a “sell” rating to a “hold” rating in a research note on Friday, May 1st. Finally, SunTrust Banks decreased their price target on shares of Renasant from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Renasant currently has a consensus rating of “Hold” and a consensus target price of $35.25.

In other news, Director R Rick Hart sold 4,058 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $24.21, for a total value of $98,244.18. Following the transaction, the director now directly owns 68,712 shares in the company, valued at $1,663,517.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard Heyer purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was bought at an average price of $24.58 per share, for a total transaction of $49,160.00. Following the completion of the acquisition, the director now owns 28,287 shares of the company’s stock, valued at approximately $695,294.46. The disclosure for this purchase can be found here. Corporate insiders own 3.99% of the company’s stock.

About Renasant

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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