Insider Selling: Renasant Co. (NASDAQ:RNST) Director Sells 3,000 Shares of Stock

Renasant Co. (NASDAQ:RNST) Director John Creekmore sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $38.00, for a total value of $114,000.00. Following the completion of the transaction, the director now directly owns 24,057 shares in the company, valued at $914,166. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Renasant Price Performance

NASDAQ RNST traded down $0.83 on Thursday, hitting $37.35. 115,040 shares of the company’s stock were exchanged, compared to its average volume of 398,924. The stock has a 50-day moving average of $33.21 and a 200-day moving average of $32.01. 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 Co. has a 52 week low of $25.07 and a 52 week high of $38.46. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 12.44 and a beta of 1.01.

Renasant (NASDAQ:RNST) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. Renasant had a return on equity of 6.70% and a net margin of 16.83%. The firm had revenue of $318.34 million during the quarter, compared to analysts’ expectations of $184.73 million. During the same period in the prior year, the company earned $0.75 earnings per share. Analysts expect that Renasant Co. will post 2.62 earnings per share for the current year.

Renasant Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Monday, September 16th. Renasant’s payout ratio is 28.66%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Hantz Financial Services Inc. bought a new position in shares of Renasant in the 2nd quarter valued at $29,000. Quarry LP lifted its stake in shares of Renasant by 698.3% in the 2nd quarter. Quarry LP now owns 934 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 817 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Renasant in the 2nd quarter valued at $39,000. Innealta Capital LLC bought a new position in shares of Renasant in the 2nd quarter valued at $48,000. Finally, KBC Group NV lifted its stake in shares of Renasant by 32.0% in the 3rd quarter. KBC Group NV now owns 2,457 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 596 shares during the last quarter. 77.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on RNST shares. Keefe, Bruyette & Woods raised Renasant from a “market perform” rating to an “outperform” rating and upped their target price for the company from $36.00 to $40.00 in a research report on Friday, August 2nd. Truist Financial reduced their price target on Renasant from $38.00 to $37.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. Stephens raised Renasant from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $34.00 to $41.00 in a research report on Wednesday, July 31st. Raymond James raised Renasant from a “market perform” rating to an “outperform” rating and set a $39.00 price target on the stock in a research report on Wednesday, July 31st. Finally, Hovde Group raised Renasant from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $38.00 to $39.00 in a research report on Monday, August 5th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.33.

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.