Jane Street Group LLC Decreases Position in Renasant Co. (NASDAQ:RNST)

Jane Street Group LLC reduced its position in Renasant Co. (NASDAQ:RNST - Free Report) by 42.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,019 shares of the financial services provider's stock after selling 20,868 shares during the period. Jane Street Group LLC's holdings in Renasant were worth $911,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its position in Renasant by 26.5% during the third quarter. State Street Corp now owns 3,369,915 shares of the financial services provider's stock worth $109,522,000 after acquiring an additional 705,344 shares during the last quarter. Systematic Financial Management LP purchased a new position in shares of Renasant during the 3rd quarter worth approximately $810,000. Quadrature Capital Ltd acquired a new position in shares of Renasant during the 3rd quarter worth approximately $527,000. Philadelphia Financial Management of San Francisco LLC purchased a new stake in Renasant in the 3rd quarter valued at approximately $15,009,000. Finally, HighTower Advisors LLC grew its holdings in 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 buying an additional 734 shares during the last quarter. 77.31% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Renasant

In related news, Director John Creekmore sold 3,000 shares of the firm'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 transaction, the director now owns 24,057 shares in the company, valued at approximately $914,166. This trade represents a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.82% of the stock is owned by company insiders.

Renasant Trading Up 0.0 %

RNST traded up $0.01 during midday trading on Wednesday, hitting $35.75. The company's stock had a trading volume of 540,869 shares, compared to its average volume of 415,436. The firm has a market cap of $2.27 billion, a P/E ratio of 11.64 and a beta of 1.02. Renasant Co. has a 52-week low of $27.98 and a 52-week high of $39.47. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $36.29 and a two-hundred day moving average price of $33.91.

Renasant (NASDAQ:RNST - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. The firm had revenue of $318.34 million during 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 in the prior year, the business posted $0.75 earnings per share. On average, research analysts anticipate that Renasant Co. will post 2.65 earnings per share for the current year.

Renasant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Wednesday, December 18th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Wednesday, December 18th. Renasant's payout ratio is currently 28.66%.

Wall Street Analyst Weigh In

RNST has been the subject of a number of analyst reports. Hovde Group cut Renasant from an "outperform" rating to a "market perform" rating in a report on Wednesday, November 13th. Truist Financial cut their target price on shares of Renasant from $38.00 to $37.00 and set a "hold" rating for the company in a research note on Friday, September 20th. Finally, Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $45.00 price target on shares of Renasant in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.17.

Renasant 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.