22,350 Shares in Renasant Co. (NASDAQ:RNST) Bought by Holocene Advisors LP

Holocene Advisors LP bought a new stake in Renasant Co. (NASDAQ:RNST) during the third quarter, Holdings Channel.com reports. The firm bought 22,350 shares of the financial services provider’s stock, valued at approximately $726,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP lifted its position in Renasant by 698.3% in the 2nd quarter. Quarry LP now owns 934 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 817 shares during the last quarter. Hantz Financial Services Inc. bought a new stake in shares of Renasant during the second quarter valued at approximately $29,000. Meeder Asset Management Inc. acquired a new position in shares of Renasant during the second quarter worth approximately $39,000. Innealta Capital LLC bought a new position in Renasant in the 2nd quarter worth approximately $48,000. Finally, KBC Group NV increased its position in Renasant by 32.0% in the 3rd quarter. KBC Group NV now owns 2,457 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 596 shares during the period. Institutional investors and hedge funds own 77.31% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on RNST. Truist Financial reduced their price target on Renasant from $38.00 to $37.00 and set a “hold” rating for the company in a research report on Friday, September 20th. Hovde Group downgraded shares of Renasant from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $39.33.

Renasant Stock Up 0.8 %

RNST opened at $37.43 on Friday. 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 has a market capitalization of $2.38 billion, a PE ratio of 12.19 and a beta of 1.02. The stock’s fifty day moving average is $35.03 and its 200-day moving average is $33.08. Renasant Co. has a one year low of $27.98 and a one year high of $39.47.

Renasant (NASDAQ:RNST) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. Renasant had a net margin of 16.83% and a return on equity of 6.70%. The firm had revenue of $318.34 million for the quarter, compared to analysts’ expectations of $184.73 million. During the same period in the previous year, the business earned $0.75 earnings per share. On average, equities analysts predict that Renasant Co. will post 2.65 EPS for the current fiscal year.

Renasant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Wednesday, December 18th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.35%. The ex-dividend date is Wednesday, December 18th. Renasant’s dividend payout ratio is presently 28.66%.

Insider Activity at Renasant

In other Renasant news, Director John Creekmore sold 3,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was 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 approximately $914,166. This represents a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.82% 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.