Curi RMB Capital LLC Buys 75,000 Shares of Renasant Co. (NASDAQ:RNST)

Curi RMB Capital LLC grew its stake in shares of Renasant Co. (NASDAQ:RNST) by 233.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 107,115 shares of the financial services provider’s stock after acquiring an additional 75,000 shares during the quarter. Curi RMB Capital LLC’s holdings in Renasant were worth $3,481,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Hantz Financial Services Inc. bought a new position in Renasant during the 2nd quarter worth approximately $29,000. Quarry LP raised its holdings in Renasant by 698.3% in the second quarter. Quarry LP now owns 934 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 817 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Renasant during the second quarter worth $39,000. Innealta Capital LLC acquired a new position in shares of Renasant in the 2nd quarter valued at $48,000. Finally, KBC Group NV increased its position in shares of Renasant by 32.0% in the 3rd quarter. KBC Group NV now owns 2,457 shares of the financial services provider’s stock valued at $80,000 after buying an additional 596 shares in the last quarter. 77.31% of the stock is currently owned by institutional investors and hedge funds.

Renasant Price Performance

NASDAQ RNST opened at $36.75 on Friday. Renasant Co. has a 12-month low of $26.28 and a 12-month high of $38.77. The firm’s 50 day moving average is $33.47 and its 200-day moving average is $32.26. The company has a market capitalization of $2.34 billion, a PE ratio of 13.22 and a beta of 1.01. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.16.

Renasant (NASDAQ:RNST) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. Renasant had a net margin of 16.83% and a return on equity of 6.70%. The firm had revenue of $318.34 million for the quarter, compared to analysts’ expectations of $184.73 million. During the same period in the previous year, the firm posted $0.75 EPS. Equities research analysts anticipate that Renasant Co. will post 2.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director John Creekmore sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $38.00, for a total transaction of $114,000.00. Following the sale, the director now owns 24,057 shares in the company, valued at $914,166. This represents a 11.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 2.82% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on RNST shares. Stephens raised Renasant from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $34.00 to $41.00 in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods upgraded Renasant from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $36.00 to $40.00 in a research report on Friday, August 2nd. Truist Financial dropped their target price on shares of Renasant from $38.00 to $37.00 and set a “hold” rating on the stock in a report on Friday, September 20th. Hovde Group cut shares of Renasant from an “outperform” rating to a “market perform” rating in a report on Wednesday. Finally, Piper Sandler upgraded shares of Renasant from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $34.00 to $40.00 in a report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Renasant presently has a consensus rating of “Moderate Buy” and an average price target of $39.33.

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. The company operates through Community Banks, Insurance, and Wealth Management segments. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and factoring equipment leasing services, as well as safe deposit and night depository facilities.