Kennedy Capital Management LLC Sells 86,106 Shares of Renasant Co. (NASDAQ:RNST)

Kennedy Capital Management LLC trimmed its position in shares of Renasant Co. (NASDAQ:RNST - Free Report) by 26.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 243,619 shares of the financial services provider's stock after selling 86,106 shares during the quarter. Kennedy Capital Management LLC owned 0.38% of Renasant worth $8,709,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. KBC Group NV increased its position 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 purchasing an additional 901 shares in the last quarter. ZWJ Investment Counsel Inc. acquired a new position in Renasant during the 4th quarter worth approximately $208,000. Cibc World Markets Corp purchased a new stake in shares of Renasant during the fourth quarter worth about $209,000. CIBC Asset Management Inc bought a new stake in Renasant in the fourth quarter valued at about $220,000. Finally, Verition Fund Management LLC bought a new position in Renasant during the 3rd quarter worth $210,000. 77.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Renasant

In other Renasant news, CAO Kelly Hutcheson sold 1,310 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $36.72, for a total transaction of $48,103.20. Following the completion of the sale, the chief accounting officer now directly owns 17,586 shares of the company's stock, valued at approximately $645,757.92. The trade was a 6.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.81% of the stock is owned by corporate insiders.

Renasant Price Performance

RNST stock traded up $0.34 during trading on Wednesday, reaching $28.26. 234,482 shares of the company were exchanged, compared to its average volume of 582,273. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 8.64 and a beta of 0.93. Renasant Co. has a twelve month low of $26.97 and a twelve month high of $39.63. The company has a 50-day moving average of $34.23 and a two-hundred day moving average of $35.18.

Renasant Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Monday, March 17th. Renasant's dividend payout ratio (DPR) is presently 26.91%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RNST. Piper Sandler upped their price target on shares of Renasant from $41.00 to $44.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $46.00 price objective (up from $45.00) on shares of Renasant in a report on Thursday, January 30th. Stephens increased their price target on Renasant from $44.00 to $47.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Raymond James reduced their price target on shares of Renasant from $44.00 to $40.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. Finally, StockNews.com downgraded shares of Renasant from a "hold" rating to a "sell" rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $42.17.

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.