John Creekmore Sells 3,000 Shares of Renasant Co. (NASDAQ:RNST) Stock

Renasant Co. (NASDAQ:RNST) Director John Creekmore sold 3,000 shares of the 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 sale, the director now directly owns 24,057 shares of the company’s stock, valued at approximately $914,166. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Renasant Stock Up 1.1 %

Shares of RNST stock opened at $37.21 on Friday. Renasant Co. has a fifty-two week low of $25.07 and a fifty-two week high of $38.46. The firm has a market capitalization of $2.40 billion, a PE ratio of 12.12 and a beta of 1.01. 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 stock’s 50-day simple moving average is $33.30 and its 200-day simple moving average is $32.11.

Renasant (NASDAQ:RNST) last issued its quarterly earnings results 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 for the quarter, compared to the consensus estimate 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 company earned $0.75 EPS. Equities analysts expect that Renasant Co. will post 2.64 earnings per share for the current year.

Renasant Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.22 per share. The ex-dividend date was Monday, September 16th. This represents a $0.88 dividend on an annualized basis and a yield of 2.36%. Renasant’s dividend payout ratio is presently 28.66%.

Analyst Ratings Changes

A number of research firms recently commented on RNST. Truist Financial decreased their target price on shares of Renasant from $38.00 to $37.00 and set a “hold” rating for the company in a research report on Friday, September 20th. Stephens raised Renasant from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $34.00 to $41.00 in a research report on Wednesday, July 31st. Raymond James raised Renasant from a “market perform” rating to an “outperform” rating and set a $39.00 price objective for the company in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods raised Renasant from a “market perform” rating to an “outperform” rating and upped their target price for the company from $36.00 to $40.00 in a research report on Friday, August 2nd. Finally, Piper Sandler raised Renasant from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $34.00 to $40.00 in a report on Monday, August 5th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.33.

Institutional Investors Weigh In On Renasant

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. acquired a new position in shares of Renasant in the 2nd quarter valued at about $29,000. Quarry LP lifted its holdings in Renasant by 698.3% in the second quarter. Quarry LP now owns 934 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 817 shares during the period. Meeder Asset Management Inc. purchased a new stake in Renasant in the 2nd quarter worth approximately $39,000. Innealta Capital LLC acquired a new stake in shares of Renasant during the 2nd quarter worth approximately $48,000. Finally, KBC Group NV grew its stake in shares of Renasant by 32.0% during the 3rd 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 during the period. 77.31% of the stock is owned by institutional investors and hedge funds.

About Renasant

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.