Equitable Trust Co. Invests $248,000 in Renasant Co. (NASDAQ:RNST)

Equitable Trust Co. purchased a new position in shares of Renasant Co. (NASDAQ:RNST - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,934 shares of the financial services provider's stock, valued at approximately $248,000.

A number of other large investors also recently bought and sold shares of the company. Mutual of America Capital Management LLC raised its stake in shares of Renasant by 3.2% during the 3rd quarter. Mutual of America Capital Management LLC now owns 9,560 shares of the financial services provider's stock worth $311,000 after buying an additional 300 shares in the last quarter. Sheets Smith Wealth Management raised its stake in shares of Renasant by 3.6% during the 4th quarter. Sheets Smith Wealth Management now owns 12,471 shares of the financial services provider's stock worth $446,000 after buying an additional 438 shares in the last quarter. KBC Group NV raised its stake in shares of Renasant by 32.0% during the 3rd quarter. KBC Group NV now owns 2,457 shares of the financial services provider's stock worth $80,000 after buying an additional 596 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Renasant by 7.1% during the 3rd quarter. HighTower Advisors LLC now owns 11,126 shares of the financial services provider's stock worth $365,000 after buying an additional 734 shares in the last quarter. Finally, J.W. Cole Advisors Inc. raised its stake in shares of Renasant by 11.7% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 8,159 shares of the financial services provider's stock worth $265,000 after buying an additional 856 shares in the last quarter. Hedge funds and other institutional investors own 77.31% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Piper Sandler boosted their target price on Renasant from $41.00 to $44.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. StockNews.com downgraded Renasant from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. Raymond James reiterated an "outperform" rating and set a $44.00 target price (up from $40.00) on shares of Renasant in a research report on Thursday, January 30th. Hovde Group downgraded Renasant from an "outperform" rating to a "market perform" rating in a research report on Wednesday, November 13th. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $46.00 target price (up from $45.00) on shares of Renasant in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $42.83.

Renasant Price Performance

Shares of NASDAQ:RNST traded up $0.06 on Friday, hitting $38.46. The company had a trading volume of 449,254 shares, compared to its average volume of 536,955. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. Renasant Co. has a 52-week low of $27.98 and a 52-week high of $39.63. The business has a 50 day moving average of $36.66 and a 200 day moving average of $35.01. The company has a market cap of $2.45 billion, a PE ratio of 11.76 and a beta of 1.03.

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.