Insider Selling: Renasant Co. (NASDAQ:RNST) Director Sells $114,000.00 in Stock

Renasant Co. (NASDAQ:RNST) Director John Creekmore sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $38.00, for a total value of $114,000.00. Following the transaction, the director now owns 24,057 shares of the company’s stock, valued at $914,166. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Renasant Trading Up 1.1 %

NASDAQ RNST opened at $37.21 on Friday. The stock has a market cap of $2.40 billion, a PE ratio of 12.12 and a beta of 1.01. Renasant Co. has a 12 month low of $25.07 and a 12 month high of $38.46. The company’s 50-day moving average price is $33.30 and its 200-day moving average price is $32.11. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16.

Renasant (NASDAQ:RNST) last issued its earnings results on Tuesday, October 22nd. The financial services provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Renasant had a net margin of 16.83% and a return on equity of 6.70%. The business had revenue of $318.34 million for the quarter, compared to the consensus estimate of $184.73 million. During the same period in the prior year, the firm earned $0.75 EPS. Equities research analysts forecast that Renasant Co. will post 2.64 earnings per share for the current year.

Renasant Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Monday, September 16th. Renasant’s dividend payout ratio (DPR) is presently 28.66%.

Analyst Ratings Changes

RNST has been the subject of a number of recent research reports. Keefe, Bruyette & Woods raised shares of Renasant from a “market perform” rating to an “outperform” rating and raised their target price for the company from $36.00 to $40.00 in a report on Friday, August 2nd. Stephens upgraded Renasant from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $34.00 to $41.00 in a research report on Wednesday, July 31st. Truist Financial dropped their target price on Renasant from $38.00 to $37.00 and set a “hold” rating for the company in a report on Friday, September 20th. Piper Sandler upgraded Renasant from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $34.00 to $40.00 in a research report on Monday, August 5th. Finally, Hovde Group upgraded shares of Renasant from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $38.00 to $39.00 in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.33.

Institutional Investors Weigh In On Renasant

Several hedge funds have recently made changes to their positions in RNST. Landscape Capital Management L.L.C. bought a new stake in shares of Renasant in the third quarter valued at about $852,000. Intech Investment Management LLC bought a new stake in shares of Renasant in the 3rd quarter valued at about $670,000. Jennison Associates LLC bought a new stake in shares of Renasant in the 3rd quarter valued at about $12,514,000. Stieven Capital Advisors L.P. purchased a new stake in shares of Renasant in the 3rd quarter worth approximately $11,981,000. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Renasant by 6.7% during the third quarter. Thrivent Financial for Lutherans now owns 49,910 shares of the financial services provider’s stock valued at $1,622,000 after purchasing an additional 3,142 shares in the last quarter. 77.31% of the stock is currently owned by hedge funds and other institutional investors.

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.