Renasant Co. (NASDAQ:RNST) CAO Sells $48,103.20 in Stock

Renasant Co. (NASDAQ:RNST) CAO Kelly Hutcheson sold 1,310 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 17,586 shares in the company, valued at approximately $645,757.92. The trade was a 6.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Renasant Stock Performance

Shares of Renasant stock opened at $36.30 on Wednesday. Renasant Co. has a 1 year low of $27.98 and a 1 year high of $39.63. The firm’s 50-day moving average is $36.72 and its 200 day moving average is $35.25. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 11.10 and a beta of 1.03. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94.

Renasant Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.88 dividend on an annualized basis and a yield of 2.42%. Renasant’s payout ratio is currently 26.91%.

Hedge Funds Weigh In On Renasant

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Renasant by 17.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 166,033 shares of the financial services provider’s stock worth $5,936,000 after purchasing an additional 24,897 shares in the last quarter. Waverly Advisors LLC increased its holdings in Renasant by 25.0% in the 4th quarter. Waverly Advisors LLC now owns 42,861 shares of the financial services provider’s stock worth $1,532,000 after buying an additional 8,562 shares in the last quarter. Squarepoint Ops LLC increased its holdings in Renasant by 9.1% in the 4th quarter. Squarepoint Ops LLC now owns 50,503 shares of the financial services provider’s stock worth $1,805,000 after buying an additional 4,221 shares in the last quarter. Two Sigma Advisers LP raised its position in Renasant by 5.7% in the 4th quarter. Two Sigma Advisers LP now owns 120,100 shares of the financial services provider’s stock worth $4,294,000 after buying an additional 6,500 shares during the last quarter. Finally, Teza Capital Management LLC bought a new position in Renasant during the 4th quarter valued at about $516,000. 77.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on RNST. Piper Sandler boosted their price objective 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. StockNews.com cut shares of Renasant from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Hovde Group cut shares of Renasant from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 13th. Raymond James restated an “outperform” rating and set a $44.00 target price (up previously from $40.00) on shares of Renasant 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 company an “overweight” rating in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $42.83.

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.