Renasant Co. (NASDAQ:RNST) Shares Bought by Fisher Asset Management LLC

Fisher Asset Management LLC grew its holdings in shares of Renasant Co. (NASDAQ:RNST) by 47.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 414,108 shares of the financial services provider’s stock after purchasing an additional 134,000 shares during the period. Fisher Asset Management LLC owned 0.65% of Renasant worth $14,804,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. KBC Group NV raised its holdings in shares of Renasant by 32.0% during the third 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 stake in shares of Renasant in the 4th quarter worth about $208,000. CIBC Asset Management Inc bought a new position in Renasant in the 4th quarter valued at about $220,000. Creative Planning bought a new position in Renasant in the 3rd quarter valued at about $207,000. Finally, Verition Fund Management LLC bought a new position in Renasant in the 3rd quarter valued at about $210,000. 77.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Renasant news, CAO Kelly Hutcheson sold 1,310 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $36.72, for a total value of $48,103.20. Following the completion of the transaction, 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 filing with the SEC, which is available through this link. Insiders own 2.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. StockNews.com lowered shares of Renasant from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $46.00 target price (up previously from $45.00) on shares of Renasant in a research report on Thursday, January 30th. Hovde Group lowered shares of Renasant from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 13th. Piper Sandler increased their target price on shares of Renasant from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, Stephens increased their target price on shares of Renasant from $44.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $42.83.

Renasant Stock Performance

NASDAQ:RNST opened at $35.95 on Tuesday. Renasant Co. has a twelve month low of $27.98 and a twelve month high of $39.63. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average of $36.79 and a 200-day moving average of $35.36. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 10.99 and a beta of 1.03.

Renasant Dividend Announcement

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

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.