Renasant Corp (NYSE:RNST - Get Free Report) Director Edward Robinson Mcgraw sold 35,000 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $43.88, for a total value of $1,535,800.00. Following the transaction, the director owned 211,458 shares in the company, valued at $9,278,777.04. This trade represents a 14.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Renasant Stock Up 0.8%
Shares of NYSE:RNST opened at $43.91 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.21. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 13.15 and a beta of 0.98. The stock's 50-day moving average price is $42.37 and its two-hundred day moving average price is $39.90. Renasant Corp has a 12-month low of $33.04 and a 12-month high of $44.50.
Renasant (NYSE:RNST - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.94 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.03. The company had revenue of $273.94 million during the quarter, compared to the consensus estimate of $280.71 million. Renasant had a net margin of 19.94% and a return on equity of 8.67%. During the same quarter in the prior year, the company posted $0.01 EPS. On average, research analysts forecast that Renasant Corp will post 3.77 EPS for the current year.
Analyst Ratings Changes
Several brokerages recently commented on RNST. Piper Sandler upped their price target on shares of Renasant from $46.00 to $48.00 and gave the stock an "overweight" rating in a research report on Thursday. TD Cowen lifted their price target on shares of Renasant from $48.00 to $49.00 and gave the company a "buy" rating in a report on Thursday. Hovde Group boosted their price objective on shares of Renasant from $44.00 to $46.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Renasant in a report on Friday, June 5th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $47.67.
Check Out Our Latest Report on Renasant
Institutional Trading of Renasant
Large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in shares of Renasant by 1.2% during the first quarter. Dimensional Fund Advisors LP now owns 5,328,672 shares of the company's stock valued at $192,521,000 after purchasing an additional 61,674 shares during the period. State Street Corp boosted its stake in shares of Renasant by 14.1% in the second quarter. State Street Corp now owns 4,812,696 shares of the company's stock valued at $172,920,000 after purchasing an additional 595,609 shares during the period. Wellington Management Group LLP boosted its stake in shares of Renasant by 4.3% in the fourth quarter. Wellington Management Group LLP now owns 3,089,186 shares of the company's stock valued at $108,801,000 after purchasing an additional 126,405 shares during the period. Invesco Ltd. grew its holdings in Renasant by 0.6% during the 3rd quarter. Invesco Ltd. now owns 2,229,966 shares of the company's stock valued at $82,263,000 after purchasing an additional 14,301 shares in the last quarter. Finally, Channing Capital Management LLC grew its holdings in Renasant by 35.0% during the 4th quarter. Channing Capital Management LLC now owns 2,225,536 shares of the company's stock valued at $78,383,000 after purchasing an additional 576,986 shares in the last quarter. Institutional investors and hedge funds own 77.31% of the company's stock.
Renasant Company Profile
(
Get Free Report)
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. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and equipment leasing services, as well as safe deposit and night depository facilities. It also provides commercial, financial, and agricultural loans; equipment financing and leasing; real estate1-4 family mortgage; real estatecommercial mortgage; real estateconstruction loans for the construction of single family residential properties, multi-family properties, and commercial projects; installment loans to individuals; and interim construction loans, as well as automated teller machine (ATM), online and mobile banking, call center, and treasury management services.
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