Renasant Co. (NASDAQ:RNST) Director John Creekmore Sells 3,000 Shares of Stock

Renasant Co. (NASDAQ:RNST) Director John Creekmore sold 3,000 shares of Renasant stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $38.00, for a total value of $114,000.00. Following the completion of the transaction, the director now owns 24,057 shares in the company, valued at $914,166. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Renasant Stock Down 3.6 %

Shares of NASDAQ RNST opened at $36.79 on Friday. Renasant Co. has a 1 year low of $25.07 and a 1 year high of $38.46. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 11.98 and a beta of 1.01. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.96. The stock’s 50-day simple moving average is $33.25 and its 200-day simple moving average is $32.05.

Renasant (NASDAQ:RNST) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Renasant had a return on equity of 6.70% and a net margin of 16.83%. The business had revenue of $318.34 million for the quarter, compared to analyst estimates of $184.73 million. During the same period in the previous year, the company earned $0.75 earnings per share. As a group, equities analysts anticipate that Renasant Co. will post 2.62 earnings per share for the current fiscal year.

Renasant Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.39%. The ex-dividend date was Monday, September 16th. Renasant’s dividend payout ratio is currently 28.66%.

Institutional Trading of Renasant

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Stieven Capital Advisors L.P. bought a new stake in Renasant in the third quarter valued at about $11,981,000. Thrivent Financial for Lutherans increased its holdings in Renasant by 6.7% in the third quarter. Thrivent Financial for Lutherans now owns 49,910 shares of the financial services provider’s stock valued at $1,622,000 after buying an additional 3,142 shares during the last quarter. Mutual of America Capital Management LLC increased its holdings in Renasant by 3.2% in the third quarter. Mutual of America Capital Management LLC now owns 9,560 shares of the financial services provider’s stock valued at $311,000 after buying an additional 300 shares during the last quarter. Empowered Funds LLC boosted its stake in Renasant by 5.3% in the third quarter. Empowered Funds LLC now owns 191,077 shares of the financial services provider’s stock valued at $6,210,000 after acquiring an additional 9,648 shares during the period. Finally, Curi RMB Capital LLC boosted its stake in Renasant by 233.5% in the third quarter. Curi RMB Capital LLC now owns 107,115 shares of the financial services provider’s stock valued at $3,481,000 after acquiring an additional 75,000 shares during the period. 77.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RNST. Piper Sandler upgraded Renasant from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $34.00 to $40.00 in a report on Monday, August 5th. Raymond James raised Renasant from a “market perform” rating to an “outperform” rating and set a $39.00 price objective on the stock in a research report on Wednesday, July 31st. Stephens raised Renasant from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $34.00 to $41.00 in a research report on Wednesday, July 31st. Hovde Group raised Renasant from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $38.00 to $39.00 in a research report on Monday, August 5th. Finally, Keefe, Bruyette & Woods raised Renasant from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $36.00 to $40.00 in a research report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Renasant has a consensus rating of “Moderate Buy” and an average price target of $39.33.

About Renasant

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.