Citigroup Inc. Has $4.19 Million Holdings in Renasant Co. (NASDAQ:RNST)

Citigroup Inc. increased its holdings in Renasant Co. (NASDAQ:RNST - Free Report) by 59.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 128,767 shares of the financial services provider's stock after buying an additional 48,234 shares during the period. Citigroup Inc. owned about 0.20% of Renasant worth $4,185,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Hantz Financial Services Inc. acquired a new position in Renasant in the second quarter valued at $29,000. Quarry LP increased its stake in Renasant by 698.3% during the second quarter. Quarry LP now owns 934 shares of the financial services provider's stock worth $29,000 after acquiring an additional 817 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Renasant during the second quarter worth about $39,000. Innealta Capital LLC acquired a new stake in Renasant during the second quarter worth about $48,000. Finally, KBC Group NV grew its stake in shares of Renasant by 32.0% in the third 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 hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RNST shares. Hovde Group lowered Renasant from an "outperform" rating to a "market perform" rating in a research note on Wednesday, November 13th. Truist Financial lowered their price objective on Renasant from $38.00 to $37.00 and set a "hold" rating for the company in a research note on Friday, September 20th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Renasant has an average rating of "Moderate Buy" and a consensus target price of $39.33.

Insider Transactions at Renasant

In related news, Director John Creekmore sold 3,000 shares of Renasant stock in a transaction 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 completion of the sale, the director now owns 24,057 shares of the company's stock, valued at approximately $914,166. This trade represents a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.82% of the stock is currently owned by insiders.

Renasant Stock Up 1.6 %

Shares of Renasant stock traded up $0.59 during midday trading on Wednesday, hitting $37.52. The company's stock had a trading volume of 272,158 shares, compared to its average volume of 401,944. The firm has a market capitalization of $2.39 billion, a P/E ratio of 12.03 and a beta of 1.02. The stock has a 50-day simple moving average of $34.71 and a 200-day simple moving average of $32.96. 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 Co. has a 1-year low of $27.98 and a 1-year high of $39.47.

Renasant (NASDAQ:RNST - Get Free Report) last issued its 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. The business had revenue of $318.34 million during the quarter, compared to analysts' expectations of $184.73 million. Renasant had a return on equity of 6.70% and a net margin of 16.83%. During the same quarter last year, the firm posted $0.75 earnings per share. As a group, sell-side analysts expect that Renasant Co. will post 2.65 earnings per share for the current year.

Renasant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Wednesday, December 18th will be given a $0.22 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $0.88 annualized dividend and a dividend yield of 2.35%. Renasant's dividend payout ratio (DPR) is presently 28.66%.

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.