SG Americas Securities LLC Acquires 3,484 Shares of Renasant Co. (NASDAQ:RNST)

SG Americas Securities LLC increased its holdings in Renasant Co. (NASDAQ:RNST) by 94.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,188 shares of the financial services provider’s stock after purchasing an additional 3,484 shares during the quarter. SG Americas Securities LLC’s holdings in Renasant were worth $234,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of RNST. Goldman Sachs Group Inc. grew its stake in shares of Renasant by 4.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 830,687 shares of the financial services provider’s stock worth $27,978,000 after purchasing an additional 38,036 shares during the last quarter. Vanguard Group Inc. boosted its position in Renasant by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,416,896 shares of the financial services provider’s stock valued at $216,121,000 after acquiring an additional 16,417 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Renasant by 74.7% during the first quarter. BNP Paribas Financial Markets now owns 41,701 shares of the financial services provider’s stock valued at $1,306,000 after acquiring an additional 17,836 shares during the last quarter. Texas Permanent School Fund Corp boosted its position in Renasant by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 49,135 shares of the financial services provider’s stock valued at $1,539,000 after acquiring an additional 637 shares during the last quarter. Finally, Empowered Funds LLC boosted its position in Renasant by 22.2% during the first quarter. Empowered Funds LLC now owns 168,469 shares of the financial services provider’s stock valued at $5,276,000 after acquiring an additional 30,630 shares during the last quarter. Institutional investors own 77.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RNST. Raymond James raised shares of Renasant from a “market perform” rating to an “outperform” rating and set a $39.00 price objective on the stock in a research report on Wednesday, July 31st. Hovde Group raised shares of Renasant from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $38.00 to $39.00 in a research report on Monday, August 5th. Keefe, Bruyette & Woods upgraded shares of Renasant from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $36.00 to $40.00 in a report on Friday, August 2nd. Piper Sandler upgraded shares of Renasant from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $34.00 to $40.00 in a report on Monday, August 5th. Finally, Truist Financial lowered their target price on shares of Renasant from $38.00 to $37.00 and set a “hold” rating on the stock in a report on Friday, September 20th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $39.33.

Renasant Trading Down 3.8 %

NASDAQ:RNST opened at $32.39 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.93. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 13.17 and a beta of 1.02. Renasant Co. has a 52 week low of $22.99 and a 52 week high of $37.40. The firm has a 50-day moving average price of $32.93 and a two-hundred day moving average price of $31.61.

Renasant (NASDAQ:RNST) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.66 by $0.03. Renasant had a net margin of 15.04% and a return on equity of 6.98%. The firm had revenue of $163.79 million during the quarter, compared to analyst estimates of $166.05 million. During the same quarter last year, the business posted $0.83 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities analysts expect that Renasant Co. will post 2.53 earnings per share for the current fiscal year.

Renasant Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend was Monday, September 16th. Renasant’s dividend payout ratio (DPR) is presently 35.77%.

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.