Renasant Co. (NASDAQ:RNST) Position Increased by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its position in shares of Renasant Co. (NASDAQ:RNST - Free Report) by 1.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,955,366 shares of the financial services provider's stock after buying an additional 65,777 shares during the period. Victory Capital Management Inc. owned approximately 6.12% of Renasant worth $128,549,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Amalgamated Bank raised its holdings in Renasant by 7.2% in 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 during the period. J.W. Cole Advisors Inc. increased its position in shares of Renasant by 11.7% in the third quarter. J.W. Cole Advisors Inc. now owns 8,159 shares of the financial services provider's stock worth $265,000 after acquiring an additional 856 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Renasant by 9.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 36,270 shares of the financial services provider's stock valued at $1,178,000 after acquiring an additional 3,193 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of Renasant by 8.5% during the 3rd quarter. Louisiana State Employees Retirement System now owns 30,700 shares of the financial services provider's stock valued at $998,000 after acquiring an additional 2,400 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Renasant by 21.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,746,924 shares of the financial services provider's stock worth $56,775,000 after purchasing an additional 303,945 shares during the period. 77.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RNST shares. Hovde Group lowered Renasant from an "outperform" rating to a "market perform" rating in a research report on Wednesday. Raymond James raised Renasant from a "market perform" rating to an "outperform" rating and set a $39.00 price target on the stock in a research report on Wednesday, July 31st. Piper Sandler raised shares of Renasant from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $34.00 to $40.00 in a research report on Monday, August 5th. Truist Financial reduced their target price on shares of Renasant from $38.00 to $37.00 and set a "hold" rating on the stock in a research report on Friday, September 20th. Finally, Stephens raised shares of Renasant from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $34.00 to $41.00 in a report on Wednesday, July 31st. Three 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, Renasant currently has an average rating of "Moderate Buy" and a consensus target price of $39.33.

Insider Buying and Selling

In related news, Director John Creekmore sold 3,000 shares of the company's stock in a transaction that occurred 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.82% of the company's stock.

Renasant Stock Down 1.0 %

Shares of RNST stock traded down $0.39 during mid-day trading on Wednesday, reaching $37.01. 512,641 shares of the company were exchanged, compared to its average volume of 401,935. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.96. The business's 50 day simple moving average is $33.47 and its 200 day simple moving average is $32.26. The company has a market capitalization of $2.35 billion, a P/E ratio of 12.06 and a beta of 1.01. Renasant Co. has a fifty-two week low of $26.28 and a fifty-two week high of $38.77.

Renasant (NASDAQ:RNST - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. The company 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 period last year, the business earned $0.75 EPS. Research analysts predict that Renasant Co. will post 2.64 earnings per share for the current year.

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.