Renasant Co. (NASDAQ:RNST) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Renasant Co. (NASDAQ:RNST) have received an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $40.17.

A number of equities analysts recently weighed in on RNST shares. Hovde Group lowered shares of Renasant from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 13th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $45.00 price objective on shares of Renasant in a research note on Tuesday, December 31st.

Renasant Stock Up 1.3 %

Shares of RNST stock opened at $37.92 on Thursday. Renasant has a one year low of $27.98 and a one year high of $39.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 12.35 and a beta of 1.03. The company’s fifty day moving average price is $36.40 and its 200-day moving average price is $34.76.

Renasant Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Wednesday, December 18th were issued a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $0.88 annualized dividend and a dividend yield of 2.32%. Renasant’s dividend payout ratio is currently 28.66%.

Insider Transactions at Renasant

In related news, Director John Creekmore sold 3,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $914,166. The trade was a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.82% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RNST. Renaissance Technologies LLC grew its stake in Renasant by 78.3% in the second quarter. Renaissance Technologies LLC now owns 77,628 shares of the financial services provider’s stock valued at $2,371,000 after purchasing an additional 34,100 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Renasant by 8.3% in the 2nd quarter. Sei Investments Co. now owns 112,249 shares of the financial services provider’s stock valued at $3,428,000 after buying an additional 8,611 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Renasant by 24.9% during the 2nd quarter. AQR Capital Management LLC now owns 26,954 shares of the financial services provider’s stock worth $823,000 after acquiring an additional 5,376 shares in the last quarter. Millennium Management LLC lifted its position in Renasant by 189.3% during the second quarter. Millennium Management LLC now owns 419,765 shares of the financial services provider’s stock valued at $12,820,000 after acquiring an additional 274,685 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Renasant by 41.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,816 shares of the financial services provider’s stock valued at $147,000 after purchasing an additional 1,404 shares during the last quarter. 77.31% of the stock is owned by institutional investors.

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.