Cubist Systematic Strategies LLC Has $194,000 Stock Position in Renasant Co. (NASDAQ:RNST)

Cubist Systematic Strategies LLC cut its stake in Renasant Co. (NASDAQ:RNST - Free Report) by 88.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,356 shares of the financial services provider's stock after selling 48,184 shares during the period. Cubist Systematic Strategies LLC's holdings in Renasant were worth $194,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised 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 valued at $27,978,000 after acquiring an additional 38,036 shares during the period. Vanguard Group Inc. raised its holdings in Renasant by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,416,896 shares of the financial services provider's stock valued at $216,121,000 after acquiring an additional 16,417 shares during the period. Duncan Williams Asset Management LLC bought a new position in Renasant in the 1st quarter valued at about $290,000. 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 valued at $1,306,000 after acquiring an additional 17,836 shares during the period. Finally, Texas Permanent School Fund Corp raised its holdings in Renasant by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 49,135 shares of the financial services provider's stock valued at $1,539,000 after acquiring an additional 637 shares during the period. 77.31% of the stock is owned by institutional investors and hedge funds.

Renasant Price Performance

Shares of NASDAQ RNST traded up $0.62 during trading hours on Tuesday, hitting $33.51. 724,336 shares of the stock were exchanged, compared to its average volume of 396,151. 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 company has a market cap of $1.89 billion, a PE ratio of 13.37 and a beta of 1.02. The company's fifty day simple moving average is $32.80 and its two-hundred day simple moving average is $31.50. Renasant Co. has a 1-year low of $22.99 and a 1-year high of $37.40.

Renasant (NASDAQ:RNST - Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $166.05 million. During the same quarter last year, the business posted $0.83 EPS. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. On average, sell-side analysts predict that Renasant Co. will post 2.53 EPS for the current year.

Renasant Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.22 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.88 dividend on an annualized basis and a yield of 2.63%. Renasant's dividend payout ratio is currently 35.77%.

Analysts Set New Price Targets

RNST has been the topic of several recent research reports. Piper Sandler raised shares of Renasant from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $34.00 to $40.00 in a report on Monday, August 5th. Truist Financial lowered 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. Stephens raised shares of 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 report on Wednesday, July 31st. Hovde Group raised shares of Renasant from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $38.00 to $39.00 in a report on Monday, August 5th. Finally, Keefe, Bruyette & Woods raised shares of Renasant from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $36.00 to $40.00 in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target 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.