ZWJ Investment Counsel Inc. Acquires Shares of 6,328 Renasant Co. $RNST

ZWJ Investment Counsel Inc. acquired a new position in shares of Renasant Co. (NASDAQ:RNST) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 6,328 shares of the financial services provider’s stock, valued at approximately $227,000.

A number of other institutional investors have also modified their holdings of RNST. Quantbot Technologies LP acquired a new position in Renasant in the first quarter worth about $28,000. CWM LLC lifted its holdings in Renasant by 42.7% during the 1st quarter. CWM LLC now owns 1,330 shares of the financial services provider’s stock worth $45,000 after buying an additional 398 shares during the last quarter. State of Wyoming bought a new position in Renasant during the 1st quarter worth approximately $51,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Renasant in the 1st quarter worth approximately $54,000. Finally, GAMMA Investing LLC increased its holdings in shares of Renasant by 49.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,489 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 493 shares during the last quarter. Institutional investors and hedge funds own 77.31% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on RNST. Hovde Group raised their price objective on Renasant from $35.00 to $39.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 23rd. Cowen began coverage on shares of Renasant in a report on Wednesday, September 24th. They set a “buy” rating on the stock. TD Cowen started coverage on shares of Renasant in a report on Thursday, September 25th. They issued a “buy” rating and a $45.00 price target for the company. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Renasant in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Renasant presently has a consensus rating of “Buy” and an average price target of $43.00.

Renasant Price Performance

NASDAQ RNST opened at $36.83 on Friday. Renasant Co. has a 12 month low of $26.97 and a 12 month high of $40.40. The firm has a market capitalization of $3.50 billion, a PE ratio of 11.26 and a beta of 0.89. The company’s 50 day simple moving average is $37.72 and its 200 day simple moving average is $35.49. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94.

Renasant Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a $0.22 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $0.88 annualized dividend and a dividend yield of 2.4%. Renasant’s dividend payout ratio is 34.65%.

Renasant Company Profile

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.