Key Points
- CFO James Iv Mabry sold 12,500 shares on January 30 at an average price of $37.83 for $472,875, trimming his stake by 10.61% to 105,337 shares (≈$3.98M).
- Renasant reported quarterly EPS of $0.91, beating estimates by $0.11 while revenue missed at $216.11M versus $275.40M, and the stock trades near $37.86 with a market cap of $3.6B and a P/E of 11.58.
- Institutional investors own 77.31% of RNST, with notable stake increases by New York State Common Retirement Fund and JPMorgan, and analysts maintain an average "Buy" rating with an average price target of $43 (Hovde raised its target to $44).
Renasant Co. (NASDAQ:RNST - Get Free Report) CFO James Iv Mabry sold 12,500 shares of the business's stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $37.83, for a total value of $472,875.00. Following the sale, the chief financial officer owned 105,337 shares of the company's stock, valued at approximately $3,984,898.71. The trade was a 10.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Renasant Stock Performance
Shares of Renasant stock opened at $37.86 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.16. Renasant Co. has a 52 week low of $26.97 and a 52 week high of $40.40. The firm's 50 day moving average is $36.49 and its two-hundred day moving average is $36.52. The firm has a market capitalization of $3.60 billion, a P/E ratio of 11.58 and a beta of 0.97.
Renasant (NASDAQ:RNST - Get Free Report) last issued its earnings results on Tuesday, January 27th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.11. The business had revenue of $216.11 million during the quarter, compared to analysts' expectations of $275.40 million. Renasant had a net margin of 17.91% and a return on equity of 6.58%. During the same quarter in the prior year, the business posted $0.73 EPS. Research analysts forecast that Renasant Co. will post 2.68 EPS for the current fiscal year.
Institutional Investors Weigh In On Renasant
A number of large investors have recently bought and sold shares of RNST. New York State Common Retirement Fund lifted its position in shares of Renasant by 113.1% during the 3rd quarter. New York State Common Retirement Fund now owns 733,356 shares of the financial services provider's stock valued at $27,054,000 after acquiring an additional 389,155 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Renasant by 44.1% during the second quarter. Louisiana State Employees Retirement System now owns 43,100 shares of the financial services provider's stock valued at $1,549,000 after purchasing an additional 13,200 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new position in shares of Renasant in the 2nd quarter valued at $225,000. JPMorgan Chase & Co. increased its stake in Renasant by 100.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 553,572 shares of the financial services provider's stock worth $19,890,000 after purchasing an additional 277,211 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in Renasant during the 2nd quarter worth about $1,070,000. Institutional investors and hedge funds own 77.31% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on RNST. Hovde Group raised their price objective on Renasant from $41.00 to $44.00 and gave the stock an "outperform" rating in a report on Friday. TD Cowen restated a "buy" rating on shares of Renasant in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to data from MarketBeat, Renasant has an average rating of "Buy" and an average price target of $43.00.
Get Our Latest Stock Analysis on RNST
About Renasant
(
Get Free Report)
Renasant Corporation is a financial holding company providing banking and related services through its primary subsidiary, Renasant Bank. With origins dating back to 1904 in Tupelo, Mississippi, the company offers a comprehensive suite of commercial and consumer banking products, including deposit accounts, lending and treasury management services. Renasant serves individuals, small businesses and corporate clients across the southeastern United States.
The company operates more than 110 banking offices across Mississippi, Alabama, Tennessee, Florida and Georgia, supplemented by a network of ATMs and digital platforms.
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