William Blair Investment Management LLC bought a new position in Renasant Co. (NASDAQ:RNST - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,034,597 shares of the financial services provider's stock, valued at approximately $36,987,000. William Blair Investment Management LLC owned approximately 1.63% of Renasant at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of RNST. KBC Group NV boosted its stake in shares of Renasant by 32.0% in the 3rd quarter. KBC Group NV now owns 2,457 shares of the financial services provider's stock valued at $80,000 after purchasing an additional 596 shares in the last quarter. Mutual of America Capital Management LLC boosted its position in Renasant by 3.2% during the third quarter. Mutual of America Capital Management LLC now owns 9,560 shares of the financial services provider's stock valued at $311,000 after buying an additional 300 shares during the period. Thrivent Financial for Lutherans boosted its position in Renasant by 6.7% during the third quarter. Thrivent Financial for Lutherans now owns 49,910 shares of the financial services provider's stock valued at $1,622,000 after buying an additional 3,142 shares during the period. Jennison Associates LLC bought a new position in shares of Renasant during the third quarter valued at about $12,514,000. Finally, Intech Investment Management LLC purchased a new position in shares of Renasant in the third quarter worth about $670,000. 77.31% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Renasant news, CAO Kelly Hutcheson sold 1,310 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $36.72, for a total value of $48,103.20. Following the sale, the chief accounting officer now owns 17,586 shares in the company, valued at approximately $645,757.92. This represents a 6.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.82% of the stock is owned by corporate insiders.
Renasant Trading Up 0.7 %
Shares of NASDAQ:RNST traded up $0.25 on Friday, hitting $35.10. The company had a trading volume of 1,606,440 shares, compared to its average volume of 463,443. Renasant Co. has a 1 year low of $27.98 and a 1 year high of $39.63. 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's 50-day simple moving average is $36.47 and its two-hundred day simple moving average is $35.40. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 10.73 and a beta of 1.02.
Renasant Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.88 annualized dividend and a yield of 2.51%. Renasant's payout ratio is 26.91%.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on RNST. Keefe, Bruyette & Woods restated an "outperform" rating and set a $46.00 target price (up from $45.00) on shares of Renasant in a report on Thursday, January 30th. StockNews.com lowered Renasant from a "hold" rating to a "sell" rating in a research note on Friday, January 31st. 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 note on Thursday, January 30th. Raymond James reiterated an "outperform" rating and set a $44.00 price target (up from $40.00) on shares of Renasant in a report on Thursday, January 30th. Finally, Stephens raised their price target on shares of Renasant from $44.00 to $47.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $42.83.
View Our Latest Report on RNST
Renasant Profile
(
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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