Public Employees Retirement System of Ohio Has $2.66 Million Stock Position in Renasant Corp. (NASDAQ:RNST)

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Public Employees Retirement System of Ohio boosted its holdings in shares of Renasant Corp. (NASDAQ:RNST) by 7.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,051 shares of the financial services provider’s stock after purchasing an additional 5,500 shares during the period. Public Employees Retirement System of Ohio’s holdings in Renasant were worth $2,663,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Private Capital Group LLC acquired a new stake in shares of Renasant in the 2nd quarter valued at approximately $30,000. HM Payson & Co. acquired a new position in Renasant during the 2nd quarter worth approximately $32,000. Tower Research Capital LLC TRC bought a new position in Renasant in the 3rd quarter valued at approximately $40,000. North Star Investment Management Corp. bought a new position in Renasant in the 3rd quarter valued at approximately $40,000. Finally, Strs Ohio lifted its stake in Renasant by 44.4% in the 2nd quarter. Strs Ohio now owns 1,300 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Renasant stock opened at $35.81 on Friday. The business has a 50 day moving average of $35.20 and a 200-day moving average of $34.72. Renasant Corp. has a 1 year low of $28.02 and a 1 year high of $39.02. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.92. The company has a market capitalization of $2.05 billion, a P/E ratio of 11.94 and a beta of 1.22.

Renasant (NASDAQ:RNST) last posted its earnings results on Monday, October 21st. The financial services provider reported $0.68 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.06). Renasant had a return on equity of 8.53% and a net margin of 24.85%. The business had revenue of $146.78 million for the quarter, compared to analyst estimates of $151.37 million. During the same quarter in the prior year, the business earned $0.78 earnings per share. Equities analysts anticipate that Renasant Corp. will post 2.91 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Wednesday, December 18th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Tuesday, December 17th. Renasant’s dividend payout ratio (DPR) is currently 29.33%.

In other news, EVP James W. Gray sold 2,500 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $34.57, for a total transaction of $86,425.00. Following the completion of the transaction, the executive vice president now owns 55,472 shares of the company’s stock, valued at $1,917,667.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.64% of the company’s stock.

RNST has been the topic of a number of research reports. Sandler O’Neill cut shares of Renasant from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Zacks Investment Research upgraded shares of Renasant from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. DA Davidson started coverage on Renasant in a research note on Tuesday, August 20th. They issued a “neutral” rating and a $37.00 price target for the company. BidaskClub raised Renasant from a “strong sell” rating to a “sell” rating in a report on Wednesday. Finally, SunTrust Banks reduced their price objective on Renasant from $37.00 to $36.00 and set a “hold” rating on the stock in a research report on Tuesday, August 27th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Renasant has a consensus rating of “Hold” and a consensus target price of $36.75.

Renasant Company Profile

Renasant Corporation operates as a bank holding company for Renasant Bank, which provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings, money market, individual retirement, and health savings accounts, as well as safe deposit and night depository facilities.

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Institutional Ownership by Quarter for Renasant (NASDAQ:RNST)

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