Virtu Financial LLC Makes New $357,000 Investment in Renasant Co. (NASDAQ:RNST)

Virtu Financial LLC bought a new stake in Renasant Co. (NASDAQ:RNST) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,978 shares of the financial services provider’s stock, valued at approximately $357,000.

A number of other institutional investors have also modified their holdings of RNST. Quarry LP grew its position in Renasant by 698.3% in the 2nd quarter. Quarry LP now owns 934 shares of the financial services provider’s stock valued at $29,000 after buying an additional 817 shares during the last quarter. Hantz Financial Services Inc. acquired a new stake in shares of Renasant in the 2nd quarter worth $29,000. Meeder Asset Management Inc. purchased a new stake in shares of Renasant in the second quarter valued at about $39,000. Innealta Capital LLC acquired a new position in shares of Renasant during the second quarter worth about $48,000. Finally, KBC Group NV raised its holdings in Renasant by 32.0% during the third quarter. KBC Group NV now owns 2,457 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 596 shares in the last quarter. Institutional investors and hedge funds own 77.31% of the company’s stock.

Analyst Ratings Changes

RNST has been the topic of a number of analyst reports. Truist Financial lowered their price objective on Renasant from $38.00 to $37.00 and set a “hold” rating on the stock in a report on Friday, September 20th. Hovde Group downgraded Renasant from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.33.

Insider Transactions at Renasant

In other Renasant news, Director John Creekmore sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $38.00, for a total transaction of $114,000.00. Following the completion of the transaction, the director now directly owns 24,057 shares in the company, valued at approximately $914,166. This trade represents a 11.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.82% of the company’s stock.

Renasant Trading Up 2.5 %

Shares of RNST opened at $37.39 on Tuesday. Renasant Co. has a twelve month low of $27.98 and a twelve month 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 market capitalization of $2.38 billion, a P/E ratio of 12.18 and a beta of 1.02. The firm’s 50-day moving average is $35.54 and its two-hundred day moving average is $33.34.

Renasant (NASDAQ:RNST) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.70 earnings per share 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 analysts’ expectations of $184.73 million. Renasant had a return on equity of 6.70% and a net margin of 16.83%. During the same quarter in the prior year, the firm posted $0.75 EPS. On average, research analysts predict that Renasant Co. will post 2.65 earnings per share for the current fiscal year.

Renasant Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Wednesday, December 18th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Wednesday, December 18th. Renasant’s dividend payout ratio is currently 28.66%.

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.