Csenge Advisory Group acquired a new position in shares of Renasant Co. (NASDAQ:RNST) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,503 shares of the financial services provider’s stock, valued at approximately $225,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Segall Bryant & Hamill LLC lifted its stake in shares of Renasant by 9.3% during the 4th quarter. Segall Bryant & Hamill LLC now owns 194,153 shares of the financial services provider’s stock worth $7,939,000 after purchasing an additional 16,593 shares during the last quarter. MetLife Investment Advisors LLC purchased a new stake in shares of Renasant during the 4th quarter worth $821,000. Millennium Management LLC lifted its stake in shares of Renasant by 280.5% during the 4th quarter. Millennium Management LLC now owns 182,797 shares of the financial services provider’s stock worth $7,475,000 after purchasing an additional 134,754 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Renasant by 227.2% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,771 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 1,924 shares during the last quarter. Finally, Teachers Advisors LLC lifted its stake in shares of Renasant by 2.1% during the 4th quarter. Teachers Advisors LLC now owns 77,601 shares of the financial services provider’s stock worth $3,173,000 after purchasing an additional 1,561 shares during the last quarter. Hedge funds and other institutional investors own 65.39% of the company’s stock.
Renasant stock traded up $0.90 during midday trading on Thursday, reaching $45.03. The company’s stock had a trading volume of 135,262 shares, compared to its average volume of 163,862. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.98 and a current ratio of 0.99. Renasant Co. has a 52-week low of $37.68 and a 52-week high of $45.34. The stock has a market cap of $2,193.54, a PE ratio of 18.35 and a beta of 1.00.
Renasant (NASDAQ:RNST) last released its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. Renasant had a return on equity of 8.19% and a net margin of 18.19%. The company had revenue of $125.70 million during the quarter, compared to analysts’ expectations of $124.55 million. sell-side analysts predict that Renasant Co. will post 3 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Friday, March 16th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Thursday, March 15th. Renasant’s dividend payout ratio (DPR) is presently 31.40%.
A number of equities research analysts recently weighed in on RNST shares. BidaskClub upgraded Renasant from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Keefe, Bruyette & Woods restated a “hold” rating and set a $45.00 price objective on shares of Renasant in a research note on Friday, December 22nd. Sandler O’Neill restated a “hold” rating and set a $45.00 price objective on shares of Renasant in a research note on Thursday, January 4th. Zacks Investment Research upgraded Renasant from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Wednesday, January 10th. Finally, Hovde Group set a $47.00 price target on Renasant and gave the company a “hold” rating in a research note on Friday, January 19th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $46.00.
In other news, Director J Niles Mcneel sold 8,948 shares of the stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $44.36, for a total value of $396,933.28. Following the transaction, the director now directly owns 14,831 shares of the company’s stock, valued at $657,903.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP R Rick Hart sold 10,000 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $43.17, for a total value of $431,700.00. Following the completion of the transaction, the executive vice president now directly owns 83,450 shares in the company, valued at $3,602,536.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,948 shares of company stock valued at $1,048,833. 3.41% of the stock is currently owned by company insiders.
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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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