Blue Trust Inc. Buys 2,623 Shares of Renasant Co. (NASDAQ:RNST)

Blue Trust Inc. boosted its stake in Renasant Co. (NASDAQ:RNST) by 13.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 21,814 shares of the financial services provider’s stock after acquiring an additional 2,623 shares during the period. Blue Trust Inc.’s holdings in Renasant were worth $780,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its holdings in Renasant by 1.7% in the third quarter. Victory Capital Management Inc. now owns 3,955,366 shares of the financial services provider’s stock valued at $128,549,000 after acquiring an additional 65,777 shares during the last quarter. State Street Corp boosted its holdings in Renasant by 26.5% in the third quarter. State Street Corp now owns 3,369,915 shares of the financial services provider’s stock valued at $109,522,000 after acquiring an additional 705,344 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Renasant by 21.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,746,924 shares of the financial services provider’s stock valued at $56,775,000 after acquiring an additional 303,945 shares during the last quarter. Geode Capital Management LLC lifted its stake in Renasant by 12.0% in the third quarter. Geode Capital Management LLC now owns 1,428,038 shares of the financial services provider’s stock valued at $46,420,000 after buying an additional 153,086 shares during the period. Finally, Jennison Associates LLC lifted its stake in Renasant by 204.9% in the fourth quarter. Jennison Associates LLC now owns 1,173,801 shares of the financial services provider’s stock valued at $41,963,000 after buying an additional 788,762 shares during the period. 77.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Raymond James reissued an “outperform” rating and issued a $44.00 price target (up from $40.00) on shares of Renasant in a research note on Thursday, January 30th. StockNews.com lowered Renasant from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Stephens boosted their price target on Renasant from $44.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $46.00 target price (up from $45.00) on shares of Renasant in a research report on Thursday, January 30th. Finally, Piper Sandler upped their target price on Renasant from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Renasant currently has an average rating of “Hold” and a consensus price target of $42.83.

Renasant Trading Up 0.2 %

NASDAQ RNST opened at $38.46 on Monday. The firm has a market capitalization of $2.45 billion, a P/E ratio of 11.76 and a beta of 1.03. The business has a fifty day simple moving average of $36.66 and a 200 day simple moving average of $35.02. Renasant Co. has a 12 month low of $27.98 and a 12 month high of $39.63. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16.

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.