Quadrature Capital Ltd Invests $527,000 in Renasant Co. (NASDAQ:RNST)

Quadrature Capital Ltd bought a new stake in shares of Renasant Co. (NASDAQ:RNST - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 16,219 shares of the financial services provider's stock, valued at approximately $527,000.

A number of other hedge funds have also made changes to their positions in RNST. Quantbot Technologies LP acquired a new position in Renasant during the 3rd quarter worth $2,534,000. Charles Schwab Investment Management Inc. increased its holdings in Renasant by 21.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 734,744 shares of the financial services provider's stock valued at $23,879,000 after buying an additional 131,821 shares during the last quarter. Amalgamated Bank raised its stake in Renasant by 7.2% during the third quarter. Amalgamated Bank now owns 18,414 shares of the financial services provider's stock valued at $598,000 after buying an additional 1,240 shares in the last quarter. Intech Investment Management LLC bought a new position in Renasant during the 3rd quarter worth approximately $670,000. Finally, Duncan Williams Asset Management LLC increased its holdings in shares of Renasant by 19.9% in the 3rd quarter. Duncan Williams Asset Management LLC now owns 11,115 shares of the financial services provider's stock valued at $361,000 after acquiring an additional 1,847 shares during the last quarter. Institutional investors and hedge funds own 77.31% of the company's stock.

Insider Transactions at Renasant

In other Renasant news, Director John Creekmore sold 3,000 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $38.00, for a total transaction of $114,000.00. Following the sale, the director now directly owns 24,057 shares in the company, valued at approximately $914,166. The trade was a 11.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.82% of the company's stock.

Renasant Stock Performance

Shares of RNST traded down $0.56 during midday trading on Monday, hitting $36.87. 225,474 shares of the stock traded hands, compared to its average volume of 399,679. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.96. Renasant Co. has a 1-year low of $27.98 and a 1-year high of $39.47. The business's 50 day moving average price is $35.03 and its two-hundred day moving average price is $33.10. The firm has a market capitalization of $2.34 billion, a PE ratio of 13.37 and a beta of 1.02.

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, beating the consensus estimate of $0.63 by $0.07. The company had revenue of $318.34 million for the quarter, compared to analyst estimates of $184.73 million. Renasant had a net margin of 16.83% and a return on equity of 6.70%. During the same quarter last year, the business earned $0.75 earnings per share. Equities research analysts predict that Renasant Co. will post 2.65 EPS for the current fiscal year.

Renasant Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Wednesday, December 18th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $0.88 dividend on an annualized basis and a yield of 2.39%. Renasant's dividend payout ratio (DPR) is presently 28.66%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RNST. Truist Financial reduced their price objective on Renasant from $38.00 to $37.00 and set a "hold" rating on the stock in a research note on Friday, September 20th. Hovde Group downgraded shares of Renasant from an "outperform" rating to a "market perform" rating in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Renasant presently has a consensus rating of "Moderate Buy" and an average 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.