Key Points
- CAO Kelly Hutcheson sold 1,350 Renasant shares on March 4 at an average of $38.65 for a total of $52,177.50, reducing her stake by 7.47% to 16,728 shares (SEC filing disclosed).
- Renasant shares traded at $36.59 (down $1.21) with a market cap of $3.48B and P/E of 11.19; the company reported Q results of $0.91 EPS (beat) but missed revenue, and declared a $0.23 quarterly dividend (2.5% yield) with ex-dividend date March 17.
Renasant Co. (NASDAQ:RNST - Get Free Report) CAO Kelly Hutcheson sold 1,350 shares of the company's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $38.65, for a total transaction of $52,177.50. Following the transaction, the chief accounting officer directly owned 16,728 shares in the company, valued at approximately $646,537.20. This trade represents a 7.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Renasant Price Performance
Shares of NASDAQ RNST traded down $1.21 during midday trading on Friday, hitting $36.59. The company had a trading volume of 276,868 shares, compared to its average volume of 744,997. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of 11.19 and a beta of 0.97. Renasant Co. has a twelve month low of $26.97 and a twelve month high of $42.11. The business has a 50-day simple moving average of $38.12 and a two-hundred day simple moving average of $37.00. 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 (NASDAQ:RNST - Get Free Report) last issued its earnings results on Tuesday, January 27th. The financial services provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.11. Renasant had a net margin of 17.91% and a return on equity of 6.58%. The company had revenue of $216.11 million for the quarter, compared to analyst estimates of $275.40 million. During the same period in the prior year, the business posted $0.73 earnings per share. Equities research analysts anticipate that Renasant Co. will post 2.68 earnings per share for the current year.
Renasant Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, March 17th. Renasant's dividend payout ratio (DPR) is presently 43.40%.
Analyst Ratings Changes
A number of research firms have commented on RNST. TD Cowen reiterated a "buy" rating on shares of Renasant in a research report on Thursday, January 29th. Hovde Group boosted their price objective on shares of Renasant from $41.00 to $44.00 and gave the stock an "outperform" rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $43.00.
Read Our Latest Research Report on Renasant
Institutional Trading of Renasant
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RNST. Invesco Ltd. raised its stake in Renasant by 365.6% during the second quarter. Invesco Ltd. now owns 2,215,665 shares of the financial services provider's stock worth $79,609,000 after purchasing an additional 1,739,786 shares during the period. Channing Capital Management LLC acquired a new stake in shares of Renasant during the 3rd quarter worth $60,815,000. Geode Capital Management LLC raised its position in shares of Renasant by 48.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,203,182 shares of the financial services provider's stock worth $79,169,000 after buying an additional 714,972 shares during the period. State Street Corp boosted its holdings in Renasant by 14.1% in the second quarter. State Street Corp now owns 4,812,696 shares of the financial services provider's stock valued at $172,920,000 after acquiring an additional 595,609 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in Renasant by 4,534.6% during the fourth quarter. SG Americas Securities LLC now owns 413,173 shares of the financial services provider's stock valued at $14,552,000 after acquiring an additional 404,258 shares during the period. Hedge funds and other institutional investors own 77.31% of the company's stock.
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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