Renasant (RNST) Reaches New 1-Year High and Low at $47.96

Shares of Renasant Co. (NASDAQ:RNST) hit a new 52-week high and low during trading on Thursday . The company traded as low as $47.96 and last traded at $47.54, with a volume of 4986 shares traded. The stock had previously closed at $46.75.

A number of brokerages recently commented on RNST. BidaskClub lowered Renasant from a “buy” rating to a “hold” rating in a report on Monday, May 14th. Sandler O’Neill raised Renasant from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. ValuEngine downgraded Renasant from a “buy” rating to a “hold” rating in a research report on Friday, March 23rd. Zacks Investment Research downgraded Renasant from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Finally, Hilliard Lyons raised Renasant from a “neutral” rating to a “buy” rating in a research report on Friday, February 9th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Renasant presently has an average rating of “Hold” and a consensus target price of $46.00.

The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.94. The stock has a market capitalization of $2.34 billion, a PE ratio of 18.44 and a beta of 0.99.

Renasant (NASDAQ:RNST) last released its earnings results on Tuesday, April 24th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.02. Renasant had a return on equity of 8.50% and a net margin of 19.29%. The business had revenue of $124.76 million during the quarter, compared to the consensus estimate of $124.21 million. During the same period last year, the business posted $0.55 earnings per share. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. analysts anticipate that Renasant Co. will post 2.99 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 30th. Shareholders of record on Saturday, June 16th will be given a $0.20 dividend. This is an increase from Renasant’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Thursday, June 14th. Renasant’s dividend payout ratio (DPR) is currently 31.40%.

In other news, insider Edward Robinson Mcgraw sold 8,580 shares of Renasant stock in a transaction on Thursday, May 10th. The stock was sold at an average price of $47.19, for a total value of $404,890.20. Following the completion of the transaction, the insider now directly owns 212,056 shares in the company, valued at $10,006,922.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Stuart Johnson sold 7,910 shares of Renasant stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $47.20, for a total value of $373,352.00. Following the completion of the transaction, the executive vice president now owns 47,428 shares of the company’s stock, valued at $2,238,601.60. The disclosure for this sale can be found here. Insiders sold 50,711 shares of company stock valued at $2,332,148 over the last three months. Company insiders own 3.41% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BW Gestao de Investimentos Ltda. grew its position in shares of Renasant by 12.9% in the first quarter. BW Gestao de Investimentos Ltda. now owns 11,034 shares of the financial services provider’s stock valued at $470,000 after purchasing an additional 1,258 shares in the last quarter. American International Group Inc. grew its position in shares of Renasant by 5.4% in 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 purchasing an additional 1,558 shares in the last quarter. Teachers Advisors LLC grew its position in shares of Renasant by 2.1% in the fourth quarter. Teachers Advisors LLC now owns 77,601 shares of the financial services provider’s stock valued at $3,173,000 after purchasing an additional 1,561 shares in the last quarter. Swiss National Bank grew its position in shares of Renasant by 2.1% in the first quarter. Swiss National Bank now owns 85,800 shares of the financial services provider’s stock valued at $3,652,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its position in shares of Renasant by 227.2% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,771 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 1,924 shares in the last quarter. Institutional investors own 68.24% of the company’s stock.

Renasant Company Profile

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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