Dimensional Fund Advisors LP Purchases 8,984 Shares of Renasant Co. (NASDAQ:RNST)

Dimensional Fund Advisors LP increased its position in Renasant Co. (NASDAQ:RNST - Free Report) by 0.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,019,999 shares of the financial services provider's stock after purchasing an additional 8,984 shares during the quarter. Dimensional Fund Advisors LP owned approximately 6.32% of Renasant worth $143,716,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd grew its position in shares of Renasant by 73.7% during the 4th quarter. Covestor Ltd now owns 1,838 shares of the financial services provider's stock worth $66,000 after buying an additional 780 shares during the period. KBC Group NV grew its holdings in Renasant by 36.7% during the 4th quarter. KBC Group NV now owns 3,358 shares of the financial services provider's stock worth $120,000 after acquiring an additional 901 shares during the period. ZWJ Investment Counsel Inc. bought a new stake in shares of Renasant during the 4th quarter valued at $208,000. Cibc World Markets Corp acquired a new position in shares of Renasant in the 4th quarter valued at $209,000. Finally, CIBC Asset Management Inc acquired a new position in shares of Renasant in the 4th quarter valued at $220,000. 77.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

RNST has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $46.00 price objective (up previously from $45.00) on shares of Renasant in a report on Thursday, January 30th. Raymond James upgraded shares of Renasant from an "outperform" rating to a "strong-buy" rating and set a $40.00 price target on the stock in a research report on Thursday, April 24th. Stephens lifted their price objective on shares of Renasant from $44.00 to $47.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. StockNews.com downgraded shares of Renasant from a "hold" rating to a "sell" rating in a research note on Friday, January 31st. Finally, Piper Sandler lifted their price target on shares of Renasant from $41.00 to $44.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $41.50.

Insider Buying and Selling

In related news, CAO Kelly Hutcheson sold 1,310 shares of the company's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $36.72, for a total transaction of $48,103.20. Following the sale, the chief accounting officer now owns 17,586 shares in the company, valued at approximately $645,757.92. This represents a 6.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.81% of the stock is currently owned by corporate insiders.

Renasant Stock Down 0.0 %

Shares of Renasant stock traded down $0.00 on Tuesday, hitting $32.28. The company had a trading volume of 369,892 shares, compared to its average volume of 621,517. The stock has a 50-day moving average of $32.69 and a 200-day moving average of $35.07. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94. Renasant Co. has a twelve month low of $26.97 and a twelve month high of $39.63. The firm has a market capitalization of $2.05 billion, a P/E ratio of 9.87 and a beta of 0.93.

Renasant (NASDAQ:RNST - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.06. Renasant had a return on equity of 6.58% and a net margin of 17.91%. The company had revenue of $170.59 million during the quarter, compared to analysts' expectations of $170.38 million. During the same period in the prior year, the firm earned $0.65 earnings per share. Research analysts predict that Renasant Co. will post 2.68 earnings per share for the current year.

Renasant Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Monday, June 16th. Renasant's payout ratio is 27.33%.

Renasant 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.