Raymond James restated their outperform rating on shares of Renasant (NASDAQ:RNST - Free Report) in a research report report published on Thursday,Benzinga reports. They currently have a $44.00 target price on the financial services provider's stock, up from their prior target price of $40.00.
Several other research analysts also recently weighed in on RNST. Piper Sandler lifted their target price on shares of Renasant from $41.00 to $44.00 and gave the stock an "overweight" rating in a research report on Thursday. Hovde Group downgraded shares of Renasant from an "outperform" rating to a "market perform" rating in a research note on Wednesday, November 13th. Finally, Keefe, Bruyette & Woods restated an "outperform" rating and issued a $45.00 target price on shares of Renasant in a report on Tuesday, December 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $42.83.
Check Out Our Latest Report on RNST
Renasant Price Performance
NASDAQ:RNST traded down $0.68 during trading hours on Thursday, reaching $38.20. 254,082 shares of the company's stock were exchanged, compared to its average volume of 548,554. 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 company has a market capitalization of $2.43 billion, a P/E ratio of 11.70 and a beta of 1.03. Renasant has a 12 month low of $27.98 and a 12 month high of $39.55. The business's 50-day simple moving average is $36.46 and its two-hundred day simple moving average is $34.82.
Renasant Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Wednesday, December 18th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Wednesday, December 18th. Renasant's dividend payout ratio (DPR) is presently 26.91%.
Insider Activity at Renasant
In other Renasant news, Director John Creekmore sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $38.00, for a total value of $114,000.00. Following the completion of the sale, the director now directly owns 24,057 shares of the company's stock, valued at $914,166. The trade was a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.82% of the company's stock.
Institutional Investors Weigh In On Renasant
Institutional investors and hedge funds have recently modified their holdings of the business. Handelsbanken Fonder AB raised its holdings in Renasant by 26.4% during the fourth quarter. Handelsbanken Fonder AB now owns 12,923 shares of the financial services provider's stock valued at $462,000 after buying an additional 2,700 shares in the last quarter. Ieq Capital LLC acquired a new position in shares of Renasant during the 4th quarter valued at about $329,000. New York State Common Retirement Fund raised its stake in shares of Renasant by 4.0% in the 4th quarter. New York State Common Retirement Fund now owns 335,301 shares of the financial services provider's stock valued at $11,987,000 after acquiring an additional 12,971 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in Renasant in the 4th quarter worth approximately $220,000. Finally, Principal Financial Group Inc. boosted its position in Renasant by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 308,195 shares of the financial services provider's stock worth $11,018,000 after purchasing an additional 8,710 shares during the period. Institutional investors and hedge funds own 77.31% of the company's stock.
About Renasant
(
Get Free Report)
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.
Featured Articles
Before you consider Renasant, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Renasant wasn't on the list.
While Renasant currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
