Insider Selling: Renasant Co. (NASDAQ:RNST) CAO Sells 1,310 Shares of Stock

Renasant Co. (NASDAQ:RNST) CAO Kelly Hutcheson sold 1,310 shares of Renasant stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $36.72, for a total transaction of $48,103.20. Following the sale, the chief accounting officer now directly owns 17,586 shares in the company, valued at $645,757.92. This trade represents a 6.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Renasant Stock Down 1.1 %

Shares of NASDAQ RNST opened at $35.87 on Thursday. The company has a market capitalization of $2.28 billion, a P/E ratio of 10.97 and a beta of 1.03. Renasant Co. has a 52-week low of $27.98 and a 52-week high of $39.63. 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 company’s 50 day moving average price is $36.72 and its 200-day moving average price is $35.25.

Renasant Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a $0.22 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.45%. Renasant’s dividend payout ratio (DPR) is currently 26.91%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on RNST shares. Raymond James reaffirmed an “outperform” rating and set a $44.00 price target (up from $40.00) on shares of Renasant in a report on Thursday, January 30th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $46.00 target price (up from $45.00) on shares of Renasant in a report on Thursday, January 30th. StockNews.com lowered shares of Renasant from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Piper Sandler boosted their target price on shares of Renasant from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Finally, Stephens boosted their target price on shares of Renasant from $44.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $42.83.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Covestor Ltd lifted its position in shares of Renasant by 73.7% in the 4th quarter. Covestor Ltd now owns 1,838 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 780 shares during the period. KBC Group NV lifted its position in shares of Renasant by 32.0% in 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. ZWJ Investment Counsel Inc. acquired a new position in shares of Renasant in the 4th quarter worth approximately $208,000. Cibc World Markets Corp acquired a new position in shares of Renasant in the 4th quarter worth approximately $209,000. Finally, CIBC Asset Management Inc acquired a new position in shares of Renasant in the 4th quarter worth approximately $220,000. Institutional investors and hedge funds own 77.31% of the company’s stock.

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.