Point72 DIFC Ltd Has $26,000 Stock Holdings in Renasant Co. (NASDAQ:RNST)

Point72 DIFC Ltd trimmed its holdings in shares of Renasant Co. (NASDAQ:RNST) by 67.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 851 shares of the financial services provider’s stock after selling 1,765 shares during the period. Point72 DIFC Ltd’s holdings in Renasant were worth $26,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Empowered Funds LLC increased its holdings in shares of Renasant by 22.2% in the 1st quarter. Empowered Funds LLC now owns 168,469 shares of the financial services provider’s stock valued at $5,276,000 after purchasing an additional 30,630 shares during the period. BNP Paribas Financial Markets increased its stake in Renasant by 74.7% in the 1st quarter. BNP Paribas Financial Markets now owns 41,701 shares of the financial services provider’s stock valued at $1,306,000 after buying an additional 17,836 shares during the period. Edgestream Partners L.P. purchased a new stake in Renasant in the 1st quarter worth approximately $4,124,000. Frontier Capital Management Co. LLC boosted its stake in shares of Renasant by 6.5% during the 4th quarter. Frontier Capital Management Co. LLC now owns 744,338 shares of the financial services provider’s stock valued at $25,069,000 after buying an additional 45,461 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Renasant by 4.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 830,687 shares of the financial services provider’s stock valued at $27,978,000 after acquiring an additional 38,036 shares in the last quarter. 77.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Piper Sandler upgraded Renasant from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $34.00 to $40.00 in a report on Monday, August 5th. Hovde Group upgraded Renasant from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $38.00 to $39.00 in a report on Monday, August 5th. Stephens upgraded Renasant from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $34.00 to $41.00 in a report on Wednesday, July 31st. Raymond James upgraded shares of Renasant from a “market perform” rating to an “outperform” rating and set a $39.00 target price for the company in a research note on Wednesday, July 31st. Finally, Truist Financial dropped their price target on shares of Renasant from $38.00 to $37.00 and set a “hold” rating on the stock in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $39.33.

Renasant Stock Up 0.1 %

Shares of Renasant stock opened at $31.40 on Friday. Renasant Co. has a 12-month low of $22.99 and a 12-month high of $37.40. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average price of $33.13 and a two-hundred day moving average price of $31.38. The stock has a market capitalization of $1.77 billion, a P/E ratio of 12.76 and a beta of 1.02.

Renasant (NASDAQ:RNST) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.03. The business had revenue of $163.79 million during the quarter, compared to the consensus estimate of $166.05 million. Renasant had a net margin of 15.04% and a return on equity of 6.98%. Renasant’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.83 EPS. Equities analysts expect that Renasant Co. will post 2.54 earnings per share for the current year.

Renasant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.22 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.80%. Renasant’s payout ratio is presently 35.77%.

Renasant 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.