Geode Capital Management LLC lifted its holdings in Renasant Corp. (NASDAQ:RNST) by 8.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 574,644 shares of the financial services provider’s stock after purchasing an additional 46,102 shares during the period. Geode Capital Management LLC’s holdings in Renasant were worth $17,342,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Bank of Montreal Can raised its holdings in shares of Renasant by 16.3% in the fourth quarter. Bank of Montreal Can now owns 2,478 shares of the financial services provider’s stock worth $76,000 after buying an additional 348 shares during the period. Strs Ohio raised its holdings in shares of Renasant by 200.0% in the fourth quarter. Strs Ohio now owns 900 shares of the financial services provider’s stock worth $27,000 after buying an additional 600 shares during the period. SG Americas Securities LLC raised its holdings in shares of Renasant by 4.0% in the fourth quarter. SG Americas Securities LLC now owns 19,487 shares of the financial services provider’s stock worth $588,000 after buying an additional 749 shares during the period. United Services Automobile Association raised its holdings in shares of Renasant by 14.7% in the fourth quarter. United Services Automobile Association now owns 7,816 shares of the financial services provider’s stock worth $236,000 after buying an additional 999 shares during the period. Finally, Homrich & Berg raised its holdings in shares of Renasant by 11.9% in the fourth quarter. Homrich & Berg now owns 12,120 shares of the financial services provider’s stock worth $366,000 after buying an additional 1,290 shares during the period. Hedge funds and other institutional investors own 61.82% of the company’s stock.
In related news, EVP James W. Gray sold 2,431 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $34.84, for a total value of $84,696.04. Following the transaction, the executive vice president now owns 58,880 shares of the company’s stock, valued at $2,051,379.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.64% of the stock is owned by corporate insiders.
Several equities research analysts have recently weighed in on the company. BidaskClub downgraded Renasant from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. Zacks Investment Research upgraded Renasant from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. Finally, TheStreet upgraded Renasant from a “c+” rating to a “b-” rating in a report on Wednesday, February 20th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $37.00.
Shares of NASDAQ RNST opened at $34.83 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. Renasant Corp. has a fifty-two week low of $28.02 and a fifty-two week high of $49.71. The company has a market capitalization of $2.06 billion, a PE ratio of 11.61 and a beta of 1.21.
Renasant (NASDAQ:RNST) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.77. Renasant had a return on equity of 8.76% and a net margin of 24.55%. The company had revenue of $150.50 million for the quarter, compared to analysts’ expectations of $150.40 million. During the same quarter in the prior year, the firm earned $0.70 earnings per share. Renasant’s revenue was up 20.6% compared to the same quarter last year. On average, equities research analysts anticipate that Renasant Corp. will post 3.19 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.88 annualized dividend and a yield of 2.53%. This is a boost from Renasant’s previous quarterly dividend of $0.21. Renasant’s dividend payout ratio is 28.00%.
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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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