Renasant Co. (NASDAQ:RNST) Shares Purchased by Millennium Management LLC

Millennium Management LLC increased its holdings in Renasant Co. (NASDAQ:RNST - Free Report) by 189.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 419,765 shares of the financial services provider's stock after acquiring an additional 274,685 shares during the quarter. Millennium Management LLC owned about 0.66% of Renasant worth $12,820,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of RNST. Empowered Funds LLC raised its holdings in Renasant by 22.2% in the first quarter. Empowered Funds LLC now owns 168,469 shares of the financial services provider's stock worth $5,276,000 after buying an additional 30,630 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Renasant by 74.7% in the 1st quarter. BNP Paribas Financial Markets now owns 41,701 shares of the financial services provider's stock worth $1,306,000 after purchasing an additional 17,836 shares during the period. Edgestream Partners L.P. purchased a new position in shares of Renasant during the 1st quarter valued at about $4,124,000. Frontier Capital Management Co. LLC boosted its position in shares of Renasant by 6.5% in the fourth quarter. Frontier Capital Management Co. LLC now owns 744,338 shares of the financial services provider's stock worth $25,069,000 after purchasing an additional 45,461 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Renasant by 4.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 830,687 shares of the financial services provider's stock worth $27,978,000 after buying an additional 38,036 shares during the period. Institutional investors own 77.31% of the company's stock.

Renasant Stock Performance

RNST stock traded down $0.06 during midday trading on Monday, reaching $31.80. The stock had a trading volume of 326,072 shares, compared to its average volume of 395,107. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.93. The firm has a fifty day simple moving average of $33.02 and a two-hundred day simple moving average of $31.42. The stock has a market cap of $1.79 billion, a PE ratio of 12.91 and a beta of 1.02. Renasant Co. has a 52-week low of $22.99 and a 52-week high of $37.40.

Renasant (NASDAQ:RNST - Get Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.66 by $0.03. Renasant had a net margin of 15.04% and a return on equity of 6.98%. The business had revenue of $163.79 million for the quarter, compared to the consensus estimate of $166.05 million. During the same period in the prior year, the firm earned $0.83 EPS. The business's revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities research analysts anticipate that Renasant Co. will post 2.53 EPS for the current year.

Renasant Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.22 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.88 annualized dividend and a dividend yield of 2.77%. Renasant's dividend payout ratio is presently 35.77%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RNST shares. Raymond James upgraded Renasant from a "market perform" rating to an "outperform" rating and set a $39.00 target price for the company in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods raised shares of Renasant from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $36.00 to $40.00 in a report on Friday, August 2nd. Stephens raised shares of Renasant from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $34.00 to $41.00 in a report on Wednesday, July 31st. Truist Financial reduced their target price on shares of Renasant from $38.00 to $37.00 and set a "hold" rating on the stock in a report on Friday, September 20th. Finally, Hovde Group raised shares of Renasant from a "market perform" rating to an "outperform" rating and increased their price target for the company from $38.00 to $39.00 in a report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Renasant presently has an average 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.