Renasant Co. (NASDAQ:RNST) Shares Purchased by KBC Group NV

KBC Group NV boosted its stake in shares of Renasant Co. (NASDAQ:RNST) by 36.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,358 shares of the financial services provider’s stock after purchasing an additional 901 shares during the period. KBC Group NV’s holdings in Renasant were worth $120,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its position in Renasant by 41.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,816 shares of the financial services provider’s stock worth $147,000 after acquiring an additional 1,404 shares during the last quarter. ZWJ Investment Counsel Inc. purchased a new position in Renasant during the fourth quarter worth about $208,000. Creative Planning acquired a new position in Renasant in the 3rd quarter valued at about $207,000. Verition Fund Management LLC purchased a new stake in shares of Renasant in the 3rd quarter valued at approximately $210,000. Finally, SG Americas Securities LLC increased its holdings in shares of Renasant by 94.1% during the 3rd quarter. SG Americas Securities LLC now owns 7,188 shares of the financial services provider’s stock worth $234,000 after buying an additional 3,484 shares during the last quarter. 77.31% of the stock is currently owned by institutional investors and hedge funds.

Renasant Trading Down 1.3 %

Shares of NASDAQ:RNST opened at $38.89 on Friday. Renasant Co. has a 52 week low of $27.98 and a 52 week high of $39.63. The company’s 50 day moving average is $36.53 and its two-hundred day moving average is $34.92. The company has a market cap of $2.47 billion, a PE ratio of 11.89 and a beta of 1.03. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16.

Renasant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Wednesday, December 18th were issued a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.26%. Renasant’s payout ratio is currently 26.91%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on RNST shares. Stephens increased their price target on Renasant from $44.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. StockNews.com cut shares of Renasant from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $46.00 price objective (up previously from $45.00) on shares of Renasant in a research note on Thursday, January 30th. Piper Sandler upped their target price on shares of Renasant from $41.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Finally, Hovde Group cut shares of Renasant from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $42.83.

About Renasant

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.