Chartwell Investment Partners LLC reduced its position in Renasant Co. (NASDAQ:RNST - Free Report) by 10.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 261,278 shares of the financial services provider's stock after selling 29,292 shares during the period. Chartwell Investment Partners LLC owned about 0.40% of Renasant worth $8,491,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets increased its position in shares of Renasant by 74.7% in the first quarter. BNP Paribas Financial Markets now owns 41,701 shares of the financial services provider's stock valued at $1,306,000 after buying an additional 17,836 shares in the last quarter. Edgestream Partners L.P. purchased a new position in Renasant during the 1st quarter valued at about $4,124,000. Duncan Williams Asset Management LLC raised its position in Renasant by 19.9% during the third quarter. Duncan Williams Asset Management LLC now owns 11,115 shares of the financial services provider's stock worth $361,000 after acquiring an additional 1,847 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Renasant by 21.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,746,924 shares of the financial services provider's stock valued at $56,775,000 after purchasing an additional 303,945 shares in the last quarter. Finally, Magnolia Capital Advisors LLC purchased a new stake in shares of Renasant in the second quarter valued at about $675,000. 77.31% of the stock is owned by institutional investors and hedge funds.
In other Renasant news, Director John Creekmore sold 3,000 shares of the business'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 transaction of $114,000.00. Following the completion of the sale, the director now directly owns 24,057 shares in the company, valued at $914,166. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.82% of the stock is owned by insiders.
Several research analysts recently issued reports on the company. Truist Financial cut their price objective on Renasant from $38.00 to $37.00 and set a "hold" rating for the company in a research report on Friday, September 20th. Stephens raised Renasant from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $34.00 to $41.00 in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods upgraded Renasant from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $36.00 to $40.00 in a research report on Friday, August 2nd. Raymond James upgraded shares of Renasant from a "market perform" rating to an "outperform" rating and set a $39.00 target price on the stock in a report on Wednesday, July 31st. Finally, Hovde Group upgraded shares of Renasant from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $38.00 to $39.00 in a report on Monday, August 5th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $39.33.
Read Our Latest Stock Analysis on Renasant
Shares of NASDAQ:RNST opened at $37.21 on Monday. 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 firm has a market cap of $2.37 billion, a price-to-earnings ratio of 12.12 and a beta of 1.01. The stock's 50-day moving average price is $33.30 and its two-hundred day moving average price is $32.12. Renasant Co. has a 12-month low of $25.07 and a 12-month high of $38.46.
Renasant (NASDAQ:RNST - Get Free Report) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $0.70 earnings per share (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 business had revenue of $318.34 million for the quarter, compared to analysts' expectations of $184.73 million. During the same period last year, the company earned $0.75 earnings per share. On average, research analysts forecast that Renasant Co. will post 2.64 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Monday, September 16th. Renasant's dividend payout ratio (DPR) is currently 28.66%.
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.
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