Analysts Set Renasant Co. (NASDAQ:RNST) Price Target at $42.83

Renasant Co. (NASDAQ:RNST) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $42.83.

Several research analysts recently commented on RNST shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $46.00 price target (up previously from $45.00) on shares of Renasant in a research note on Thursday, January 30th. Stephens upped their target price on Renasant from $44.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Raymond James restated an “outperform” rating and issued a $44.00 price target (up previously from $40.00) on shares of Renasant in a research note on Thursday, January 30th. StockNews.com downgraded shares of Renasant from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Finally, 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 research report on Thursday, January 30th.

Renasant Stock Performance

Renasant stock opened at $36.20 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94. The firm’s fifty day moving average price is $36.76 and its 200 day moving average price is $35.26. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 11.07 and a beta of 1.03. Renasant has a 12-month low of $27.98 and a 12-month high of $39.63.

Renasant Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 dividend on an annualized basis and a yield of 2.43%. Renasant’s dividend payout ratio is currently 26.91%.

Insider Transactions at Renasant

In other Renasant news, CAO Kelly Hutcheson sold 1,310 shares of the company’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 sale, the chief accounting officer now directly owns 17,586 shares of the company’s stock, valued at approximately $645,757.92. This represents a 6.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.82% of the company’s stock.

Institutional Investors Weigh In On Renasant

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

Renasant Company Profile

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.