Barclays PLC Grows Position in Renasant Co. (NASDAQ:RNST)

Barclays PLC lifted its position in shares of Renasant Co. (NASDAQ:RNST) by 183.3% in the third quarter, Holdings Channel reports. The firm owned 137,217 shares of the financial services provider’s stock after purchasing an additional 88,783 shares during the period. Barclays PLC’s holdings in Renasant were worth $4,461,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RNST. Hantz Financial Services Inc. purchased a new stake in Renasant during the second quarter worth approximately $29,000. Quarry LP boosted its position in Renasant by 698.3% during the 2nd quarter. Quarry LP now owns 934 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 817 shares during the period. Meeder Asset Management Inc. acquired a new stake in Renasant in the 2nd quarter valued at $39,000. Innealta Capital LLC purchased a new position in Renasant in the second quarter valued at about $48,000. Finally, KBC Group NV lifted its stake in shares of Renasant by 32.0% during the third quarter. KBC Group NV now owns 2,457 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 596 shares in the last quarter. Institutional investors and hedge funds own 77.31% of the company’s stock.

Insider Buying and Selling at Renasant

In other Renasant news, Director John Creekmore sold 3,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $38.00, for a total transaction of $114,000.00. Following the completion of the sale, the director now owns 24,057 shares in the company, valued at $914,166. The trade was a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.82% of the stock is currently owned by insiders.

Renasant Price Performance

RNST stock opened at $35.38 on Friday. The company has a market capitalization of $2.25 billion, a PE ratio of 11.52 and a beta of 1.02. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.16. The stock’s 50 day moving average is $35.93 and its two-hundred day moving average is $33.53. Renasant Co. has a 52-week low of $27.98 and a 52-week high of $39.47.

Renasant (NASDAQ:RNST) last posted its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. The firm had revenue of $318.34 million for the quarter, compared to the consensus estimate of $184.73 million. Renasant had a net margin of 16.83% and a return on equity of 6.70%. During the same period in the prior year, the firm posted $0.75 EPS. Analysts predict that Renasant Co. will post 2.65 earnings per share for the current fiscal year.

Renasant Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Wednesday, December 18th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Wednesday, December 18th. Renasant’s dividend payout ratio is currently 28.66%.

Analysts Set New Price Targets

RNST has been the subject of a number of recent research reports. Truist Financial lowered their target price on Renasant from $38.00 to $37.00 and set a “hold” rating for the company in a research note on Friday, September 20th. Hovde Group lowered shares of Renasant from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.33.

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.