Shares of Renasant Co. (NASDAQ:RNST - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $39.59 and last traded at $39.50, with a volume of 85683 shares. The stock had previously closed at $39.32.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on RNST shares. Stephens increased their target price on shares of Renasant from $44.00 to $47.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Raymond James reiterated an "outperform" rating and issued a $44.00 price objective (up previously from $40.00) on shares of Renasant in a report on Thursday, January 30th. StockNews.com cut Renasant from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Hovde Group cut Renasant from an "outperform" rating to a "market perform" rating in a report on Wednesday, November 13th. Finally, Piper Sandler boosted their price objective on Renasant from $41.00 to $44.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $42.83.
Check Out Our Latest Report on RNST
Renasant Stock Performance
The stock has a 50-day moving average price of $36.55 and a 200 day moving average price of $34.92. 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 market capitalization of $2.42 billion, a price-to-earnings ratio of 11.63 and a beta of 1.03.
Renasant Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Wednesday, December 18th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend was Wednesday, December 18th. Renasant's payout ratio is 26.91%.
Institutional Investors Weigh In On Renasant
Several hedge funds and other institutional investors have recently bought and sold shares of RNST. Victory Capital Management Inc. grew its position in Renasant by 0.5% during the 4th quarter. Victory Capital Management Inc. now owns 3,973,413 shares of the financial services provider's stock worth $142,050,000 after purchasing an additional 18,047 shares during the last quarter. State Street Corp raised its holdings 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 purchasing an additional 705,344 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Renasant by 21.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,746,924 shares of the financial services provider's stock valued at $56,775,000 after purchasing an additional 303,945 shares during the period. Geode Capital Management LLC boosted its holdings in Renasant by 12.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,428,038 shares of the financial services provider's stock valued at $46,420,000 after purchasing an additional 153,086 shares in the last quarter. Finally, Jennison Associates LLC increased its position in Renasant by 204.9% during the 4th quarter. Jennison Associates LLC now owns 1,173,801 shares of the financial services provider's stock worth $41,963,000 after purchasing an additional 788,762 shares during the period. 77.31% of the stock is currently owned by institutional investors and hedge funds.
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.
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