Insider Selling: Renasant Corporation (RNST) Director Sells 10,000 Shares of Stock

Renasant Corporation (NASDAQ:RNST) Director J Niles Mcneel sold 10,000 shares of the firm’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $42.39, for a total transaction of $423,900.00. Following the sale, the director now owns 29,921 shares in the company, valued at approximately $1,268,351.19. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

J Niles Mcneel also recently made the following trade(s):

  • On Monday, August 14th, J Niles Mcneel acquired 23 shares of Renasant Corporation stock. The shares were bought at an average price of $40.04 per share, for a total transaction of $920.92.

Shares of Renasant Corporation (NASDAQ RNST) traded up $0.51 during trading on Friday, reaching $40.00. 344,700 shares of the company’s stock were exchanged, compared to its average volume of 188,659. The company has a market cap of $1,947.66, a price-to-earnings ratio of 16.66 and a beta of 1.00. Renasant Corporation has a 1-year low of $36.71 and a 1-year high of $45.31. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.90 and a current ratio of 0.93.

Renasant Corporation (NASDAQ:RNST) last announced its earnings results on Tuesday, October 17th. The financial services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.08). Renasant Corporation had a net margin of 20.44% and a return on equity of 8.57%. The company had revenue of $123.43 million for the quarter, compared to the consensus estimate of $127.07 million. During the same period in the previous year, the firm posted $0.59 EPS. sell-side analysts expect that Renasant Corporation will post 2.33 earnings per share for the current year.

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A number of institutional investors have recently modified their holdings of RNST. Advisor Group Inc. raised its holdings in Renasant Corporation by 13.3% in the second quarter. Advisor Group Inc. now owns 3,168 shares of the financial services provider’s stock worth $138,000 after buying an additional 371 shares during the last quarter. New York State Teachers Retirement System raised its holdings in Renasant Corporation by 5.6% in the first quarter. New York State Teachers Retirement System now owns 3,800 shares of the financial services provider’s stock worth $151,000 after buying an additional 200 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in Renasant Corporation by 7.5% in the second quarter. Ameritas Investment Partners Inc. now owns 3,792 shares of the financial services provider’s stock worth $166,000 after buying an additional 264 shares during the last quarter. Amalgamated Bank raised its holdings in Renasant Corporation by 4.2% in the first quarter. Amalgamated Bank now owns 5,350 shares of the financial services provider’s stock worth $212,000 after buying an additional 214 shares during the last quarter. Finally, Highwater Wealth Management LLC purchased a new position in Renasant Corporation in the third quarter worth about $213,000. 61.93% of the stock is owned by institutional investors and hedge funds.

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods restated a “hold” rating and set a $43.00 price objective on shares of Renasant Corporation in a research report on Friday, September 29th. Zacks Investment Research cut shares of Renasant Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, October 21st. BidaskClub cut shares of Renasant Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Jefferies Group LLC reiterated a “hold” rating and issued a $44.00 target price on shares of Renasant Corporation in a research report on Friday, July 14th. Finally, ValuEngine upgraded shares of Renasant Corporation from a “hold” rating to a “buy” rating in a research report on Monday, September 18th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $44.00.

About Renasant Corporation

Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance). The Company’s segments include Community Banks, which delivers a range of banking and financial services to individuals and small to medium-sized businesses, including checking and savings accounts, business and personal loans, equipment leasing, as well as safe deposit and night depository facilities; Insurance, which includes a full service insurance agency offering all lines of commercial and personal insurance through major carriers; Wealth Management, which offers a range of fiduciary services that includes the administration and management of trust accounts, including personal and corporate benefit accounts, and custodial accounts, and Other.

Insider Buying and Selling by Quarter for Renasant Corporation (NASDAQ:RNST)

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