Renasant Co. (NASDAQ:RNST) Shares Acquired by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. lifted its position in shares of Renasant Co. (NASDAQ:RNST) by 4.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 830,687 shares of the financial services provider’s stock after acquiring an additional 38,036 shares during the quarter. Goldman Sachs Group Inc. owned 1.48% of Renasant worth $27,978,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of Renasant by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,913,033 shares of the financial services provider’s stock worth $131,793,000 after acquiring an additional 34,897 shares during the period. Charles Schwab Investment Management Inc. grew its position in Renasant by 7.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 755,441 shares of the financial services provider’s stock worth $25,443,000 after buying an additional 50,084 shares during the period. Frontier Capital Management Co. LLC grew its position in Renasant by 6.5% during the fourth quarter. Frontier Capital Management Co. LLC now owns 744,338 shares of the financial services provider’s stock worth $25,069,000 after buying an additional 45,461 shares during the period. Norges Bank acquired a new position in Renasant during the fourth quarter worth about $13,469,000. Finally, New York State Common Retirement Fund grew its position in Renasant by 0.3% during the fourth quarter. New York State Common Retirement Fund now owns 314,417 shares of the financial services provider’s stock worth $10,590,000 after buying an additional 829 shares during the period. 77.31% of the stock is currently owned by institutional investors and hedge funds.

Renasant Stock Down 0.3 %

RNST stock opened at $28.64 on Monday. The company’s 50 day simple moving average is $29.73 and its 200-day simple moving average is $30.89. The firm has a market capitalization of $1.61 billion, a PE ratio of 11.64 and a beta of 1.04. Renasant Co. has a 12 month low of $22.99 and a 12 month high of $34.85. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.93 and a quick ratio of 0.92.

Renasant (NASDAQ:RNST) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.02. The business had revenue of $254.56 million for the quarter, compared to the consensus estimate of $159.60 million. Renasant had a net margin of 14.67% and a return on equity of 7.44%. During the same quarter in the prior year, the firm posted $0.82 earnings per share. Equities analysts expect that Renasant Co. will post 2.62 earnings per share for the current fiscal year.

Renasant Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Friday, June 14th. Renasant’s payout ratio is 35.77%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. StockNews.com upgraded shares of Renasant from a “sell” rating to a “hold” rating in a research report on Saturday, April 27th. Truist Financial lowered their target price on shares of Renasant from $35.00 to $33.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $33.00.

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.