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

Vanguard Group Inc. boosted its position in Renasant Co. (NASDAQ:RNST) by 0.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,416,896 shares of the financial services provider’s stock after buying an additional 16,417 shares during the quarter. Vanguard Group Inc. owned 11.41% of Renasant worth $216,121,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Deutsche Bank AG grew its stake in Renasant by 13.9% during the 3rd quarter. Deutsche Bank AG now owns 27,167 shares of the financial services provider’s stock valued at $712,000 after purchasing an additional 3,317 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Renasant by 10.0% during the third quarter. Public Employees Retirement System of Ohio now owns 139,706 shares of the financial services provider’s stock worth $3,659,000 after buying an additional 12,741 shares in the last quarter. Ignite Planners LLC grew its position in shares of Renasant by 8.0% during the fourth quarter. Ignite Planners LLC now owns 18,622 shares of the financial services provider’s stock worth $626,000 after buying an additional 1,382 shares in the last quarter. Brookstone Capital Management bought a new stake in shares of Renasant in the fourth quarter worth $211,000. Finally, Ballew Advisors Inc raised its holdings in Renasant by 43.8% in the fourth quarter. Ballew Advisors Inc now owns 11,131 shares of the financial services provider’s stock valued at $343,000 after acquiring an additional 3,389 shares in the last quarter. 77.31% of the stock is owned by hedge funds and other institutional investors.

Renasant Stock Up 0.1 %

Shares of NASDAQ:RNST opened at $30.58 on Tuesday. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 12.43 and a beta of 1.03. Renasant Co. has a 1-year low of $22.99 and a 1-year high of $34.85. The company’s fifty day moving average is $29.82 and its two-hundred day moving average is $30.81. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.93.

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

Renasant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend was Friday, June 14th. Renasant’s dividend payout ratio (DPR) is 35.77%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RNST shares. Truist Financial dropped their target price on shares of Renasant from $35.00 to $33.00 and set a “hold” rating for the company in a research report on Monday, April 1st. StockNews.com raised Renasant from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Renasant presently has a consensus 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.