Curi RMB Capital LLC Boosts Holdings in Renasant Co. (NASDAQ:RNST)

Curi RMB Capital LLC grew its holdings in shares of Renasant Co. (NASDAQ:RNST - Free Report) by 233.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 107,115 shares of the financial services provider's stock after purchasing an additional 75,000 shares during the quarter. Curi RMB Capital LLC owned approximately 0.17% of Renasant worth $3,481,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP lifted its stake in Renasant by 698.3% in the second quarter. Quarry LP now owns 934 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 817 shares during the last quarter. Hantz Financial Services Inc. purchased a new position in Renasant in the second quarter worth $29,000. Meeder Asset Management Inc. bought a new stake in Renasant in the 2nd quarter worth approximately $39,000. Innealta Capital LLC purchased a new stake in Renasant during the second quarter valued at about $48,000. Finally, KBC Group NV grew its position in 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 acquiring an additional 596 shares during the last quarter. Institutional investors own 77.31% of the company's stock.

Insider Buying and Selling at Renasant

In other news, Director John Creekmore sold 3,000 shares of Renasant stock in a transaction that occurred on Wednesday, November 6th. The shares were 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. The trade was a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.82% of the stock is currently owned by corporate insiders.

Renasant Price Performance

Shares of NASDAQ:RNST traded up $0.16 on Friday, reaching $36.91. The company's stock had a trading volume of 411,454 shares, compared to its average volume of 401,503. The company has a 50-day simple moving average of $33.62 and a 200 day simple moving average of $32.35. 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 company has a market cap of $2.35 billion, a P/E ratio of 12.02 and a beta of 1.01. Renasant Co. has a 52-week low of $26.28 and a 52-week high of $38.77.

Renasant (NASDAQ:RNST - Get Free Report) last issued its quarterly 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. The company had revenue of $318.34 million during the quarter, compared to the consensus estimate of $184.73 million. Renasant had a return on equity of 6.70% and a net margin of 16.83%. During the same period last year, the company earned $0.75 earnings per share. As a group, equities research analysts anticipate that Renasant Co. will post 2.64 EPS for the current fiscal year.

Renasant Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Wednesday, December 18th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Wednesday, December 18th. Renasant's payout ratio is currently 28.66%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RNST shares. Stephens raised Renasant from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $34.00 to $41.00 in a research note on Wednesday, July 31st. Truist Financial reduced their target price on Renasant from $38.00 to $37.00 and set a "hold" rating on the stock in a research note on Friday, September 20th. Hovde Group lowered Renasant from an "outperform" rating to a "market perform" rating in a research note on Wednesday. Keefe, Bruyette & Woods upgraded shares of Renasant from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $36.00 to $40.00 in a report on Friday, August 2nd. Finally, Raymond James raised Renasant from a "market perform" rating to an "outperform" rating and set a $39.00 price objective for the company in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.33.

Renasant Company Profile

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.