Empowered Funds LLC Raises Position in Renasant Co. (NASDAQ:RNST)

Empowered Funds LLC boosted its position in Renasant Co. (NASDAQ:RNST - Free Report) by 5.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 200,824 shares of the financial services provider's stock after acquiring an additional 9,747 shares during the quarter. Empowered Funds LLC owned 0.32% of Renasant worth $7,179,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC boosted its position in Renasant by 94.1% during the third quarter. SG Americas Securities LLC now owns 7,188 shares of the financial services provider's stock valued at $234,000 after buying an additional 3,484 shares during the period. Inspire Investing LLC boosted its position in Renasant by 9.8% during the third quarter. Inspire Investing LLC now owns 12,679 shares of the financial services provider's stock valued at $412,000 after buying an additional 1,135 shares during the period. Creative Planning purchased a new stake in Renasant during the third quarter valued at about $207,000. Allspring Global Investments Holdings LLC boosted its position in Renasant by 21.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,746,924 shares of the financial services provider's stock valued at $56,775,000 after buying an additional 303,945 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in Renasant by 8.5% during the third quarter. Louisiana State Employees Retirement System now owns 30,700 shares of the financial services provider's stock valued at $998,000 after buying an additional 2,400 shares during the period. Institutional investors own 77.31% of the company's stock.

Renasant Stock Up 0.2 %

Shares of RNST traded up $0.06 on Friday, hitting $38.46. 449,254 shares of the stock traded hands, compared to its average volume of 535,125. The company has a market capitalization of $2.45 billion, a PE ratio of 11.76 and a beta of 1.03. 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 business has a 50 day simple moving average of $36.66 and a 200 day simple moving average of $35.01. Renasant Co. has a one year low of $27.98 and a one year high of $39.63.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $46.00 target price (up from $45.00) on shares of Renasant in a report on Thursday, January 30th. Stephens increased their target price on shares of Renasant from $44.00 to $47.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Raymond James reiterated an "outperform" rating and set a $44.00 target price (up from $40.00) on shares of Renasant in a report on Thursday, January 30th. StockNews.com lowered shares of Renasant from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Finally, Hovde Group lowered shares of Renasant from an "outperform" rating to a "market perform" rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $42.83.

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.