Park Place Capital Corp Purchases 11,247 Shares of Renasant Co. (NASDAQ:RNST)

Park Place Capital Corp increased its stake in shares of Renasant Co. (NASDAQ:RNST - Free Report) by 12.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 99,999 shares of the financial services provider's stock after purchasing an additional 11,247 shares during the period. Renasant accounts for 1.0% of Park Place Capital Corp's investment portfolio, making the stock its 23rd largest position. Park Place Capital Corp owned about 0.16% of Renasant worth $3,575,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. Mutual of America Capital Management LLC raised its position in shares of Renasant by 3.2% in the third quarter. Mutual of America Capital Management LLC now owns 9,560 shares of the financial services provider's stock worth $311,000 after buying an additional 300 shares in the last quarter. Sheets Smith Wealth Management increased its stake in Renasant by 3.6% in the 4th quarter. Sheets Smith Wealth Management now owns 12,471 shares of the financial services provider's stock worth $446,000 after acquiring an additional 438 shares during the last quarter. KBC Group NV raised its holdings in shares of Renasant by 32.0% in the 3rd quarter. KBC Group NV now owns 2,457 shares of the financial services provider's stock valued at $80,000 after acquiring an additional 596 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of Renasant by 7.1% during the 3rd quarter. HighTower Advisors LLC now owns 11,126 shares of the financial services provider's stock valued at $365,000 after acquiring an additional 734 shares during the last quarter. Finally, Quarry LP grew its holdings in shares of Renasant by 698.3% during the second quarter. Quarry LP now owns 934 shares of the financial services provider's stock worth $29,000 after purchasing an additional 817 shares in the last quarter. Institutional investors own 77.31% of the company's stock.

Renasant Trading Down 0.4 %

Shares of RNST traded down $0.14 during trading hours on Thursday, hitting $36.38. The company had a trading volume of 636,852 shares, compared to its average volume of 499,889. Renasant Co. has a 52-week low of $27.98 and a 52-week high of $39.47. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.16. The stock's 50 day moving average price is $36.35 and its 200 day moving average price is $34.55. The firm has a market cap of $2.31 billion, a P/E ratio of 11.85 and a beta of 1.03.

Renasant (NASDAQ:RNST - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.07. Renasant had a return on equity of 6.70% and a net margin of 16.83%. The business had revenue of $318.34 million for the quarter, compared to analysts' expectations of $184.73 million. During the same period in the previous year, the firm earned $0.75 EPS. On average, research analysts predict that Renasant Co. will post 2.65 EPS for the current year.

Renasant Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Wednesday, December 18th were issued a dividend of $0.22 per share. The ex-dividend date was Wednesday, December 18th. This represents a $0.88 dividend on an annualized basis and a yield of 2.42%. Renasant's dividend payout ratio is currently 28.66%.

Analyst Ratings Changes

Several analysts have recently weighed in on RNST shares. Hovde Group cut shares of Renasant from an "outperform" rating to a "market perform" rating in a research report on Wednesday, November 13th. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $45.00 price objective on shares of Renasant in a report on Tuesday, December 31st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.17.

Insiders Place Their Bets

In related news, Director John Creekmore sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $38.00, for a total transaction of $114,000.00. Following the completion of the transaction, the director now owns 24,057 shares in the company, valued at $914,166. This represents a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.82% of the company's stock.

About Renasant

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.