Ladenburg Thalmann Financial Services Inc. grew its position in shares of Renasant Co. (NASDAQ:RNST) by 227.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,771 shares of the financial services provider’s stock after acquiring an additional 1,924 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Renasant were worth $114,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. American International Group Inc. raised its stake in shares of Renasant by 5.4% during the fourth quarter. American International Group Inc. now owns 30,523 shares of the financial services provider’s stock valued at $1,248,000 after acquiring an additional 1,558 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of Renasant by 2.1% during the fourth quarter. Teachers Advisors LLC now owns 77,601 shares of the financial services provider’s stock valued at $3,173,000 after acquiring an additional 1,561 shares during the last quarter. HBK Investments L P raised its stake in shares of Renasant by 36.4% during the fourth quarter. HBK Investments L P now owns 7,500 shares of the financial services provider’s stock valued at $307,000 after acquiring an additional 2,000 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Renasant by 3.4% during the fourth quarter. California State Teachers Retirement System now owns 71,427 shares of the financial services provider’s stock valued at $2,921,000 after acquiring an additional 2,331 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Renasant during the third quarter valued at about $217,000. 65.39% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on RNST. ValuEngine upgraded shares of Renasant from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Hilliard Lyons upgraded shares of Renasant from a “neutral” rating to a “buy” rating in a research report on Friday, February 9th. Zacks Investment Research upgraded shares of Renasant from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research report on Wednesday, January 10th. BidaskClub upgraded shares of Renasant from a “hold” rating to a “buy” rating in a research report on Friday, March 9th. Finally, Sandler O’Neill upgraded shares of Renasant from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $46.00.
Shares of NASDAQ RNST opened at $44.82 on Tuesday. Renasant Co. has a 1 year low of $37.68 and a 1 year high of $45.34. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.98 and a current ratio of 0.99. The stock has a market cap of $2,193.05, a P/E ratio of 18.52 and a beta of 1.00.
Renasant (NASDAQ:RNST) last announced its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.03. Renasant had a net margin of 18.19% and a return on equity of 8.19%. The company had revenue of $125.70 million for the quarter, compared to analysts’ expectations of $124.55 million. equities analysts predict that Renasant Co. will post 3 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Friday, March 16th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Thursday, March 15th. Renasant’s dividend payout ratio is currently 31.40%.
In other Renasant news, Director Fred F. Sharpe acquired 2,000 shares of the business’s stock in a transaction on Friday, January 19th. The shares were acquired at an average price of $43.80 per share, for a total transaction of $87,600.00. Following the completion of the acquisition, the director now owns 11,666 shares in the company, valued at $510,970.80. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP James W. Gray sold 5,000 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $44.04, for a total transaction of $220,200.00. Following the completion of the sale, the executive vice president now owns 50,003 shares in the company, valued at approximately $2,202,132.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,948 shares of company stock worth $1,048,833. Corporate insiders own 3.41% of the company’s stock.
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Renasant Corporation operates as a bank holding company for Renasant Bank, which provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings, money market, individual retirement, and health savings accounts, as well as safe deposit and night depository facilities.
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