Renasant Co. (NASDAQ:RNST) Director John Creekmore Sells 3,000 Shares

Renasant Co. (NASDAQ:RNST - Get Free Report) Director John Creekmore sold 3,000 shares of Renasant stock in a transaction 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 sale, the director now directly owns 24,057 shares of the company's stock, valued at approximately $914,166. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Renasant Stock Performance

RNST stock traded down $1.39 during trading on Thursday, hitting $36.79. The company had a trading volume of 442,910 shares, compared to its average volume of 400,466. The firm has a market cap of $2.38 billion, a PE ratio of 11.98 and a beta of 1.01. 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 firm has a 50-day moving average price of $33.25 and a 200-day moving average price of $32.05. Renasant Co. has a 1-year low of $25.07 and a 1-year high of $38.46.

Renasant (NASDAQ:RNST - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.07. The business 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 period in the previous year, the business posted $0.75 earnings per share. On average, analysts expect that Renasant Co. will post 2.62 earnings per share for the current year.

Renasant Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued 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 dividend yield of 2.39%. Renasant's dividend payout ratio is presently 28.66%.

Analyst Ratings Changes

RNST has been the subject of several recent analyst reports. Hovde Group upgraded Renasant from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $38.00 to $39.00 in a research note on Monday, August 5th. Keefe, Bruyette & Woods upgraded shares of Renasant from a "market perform" rating to an "outperform" rating and upped their target price for the company from $36.00 to $40.00 in a report on Friday, August 2nd. Truist Financial cut their price target on shares of Renasant from $38.00 to $37.00 and set a "hold" rating on the stock in a research note on Friday, September 20th. Piper Sandler upgraded shares of Renasant from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $34.00 to $40.00 in a research note on Monday, August 5th. Finally, Raymond James upgraded Renasant from a "market perform" rating to an "outperform" rating and set a $39.00 target price on the stock in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $39.33.

Institutional Investors Weigh In On Renasant

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its stake 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 buying an additional 17,836 shares in the last quarter. Texas Permanent School Fund Corp lifted 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 purchasing an additional 637 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Renasant by 22.2% during the 1st quarter. Empowered Funds LLC now owns 168,469 shares of the financial services provider's stock worth $5,276,000 after purchasing an additional 30,630 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Renasant during the first quarter worth about $273,000. Finally, Illinois Municipal Retirement Fund raised its position in shares of Renasant by 5.7% in the first quarter. Illinois Municipal Retirement Fund now owns 32,275 shares of the financial services provider's stock valued at $1,011,000 after buying an additional 1,747 shares during the last quarter. 77.31% of the stock is currently owned by institutional investors and hedge funds.

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.