Landscape Capital Management L.L.C. Sells 4,257 Shares of Renasant Co. (NASDAQ:RNST)

Landscape Capital Management L.L.C. trimmed its stake in shares of Renasant Co. (NASDAQ:RNST) by 16.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,944 shares of the financial services provider’s stock after selling 4,257 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Renasant were worth $784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. State Street Corp increased its position in Renasant by 26.5% during the 3rd quarter. State Street Corp now owns 3,369,915 shares of the financial services provider’s stock valued at $109,522,000 after purchasing an additional 705,344 shares during the period. JPMorgan Chase & Co. increased its position in shares of Renasant by 81.1% during the third quarter. JPMorgan Chase & Co. now owns 263,353 shares of the financial services provider’s stock worth $8,559,000 after buying an additional 117,950 shares during the period. Principal Financial Group Inc. raised its stake in Renasant by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 308,195 shares of the financial services provider’s stock worth $11,018,000 after buying an additional 8,710 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Renasant by 122.0% in the third quarter. Franklin Resources Inc. now owns 27,669 shares of the financial services provider’s stock valued at $910,000 after buying an additional 15,203 shares during the period. Finally, Equitable Trust Co. bought a new stake in Renasant during the fourth quarter valued at $248,000. 77.31% of the stock is currently owned by institutional investors.

Renasant Stock Performance

RNST opened at $29.37 on Friday. Renasant Co. has a 1-year low of $27.98 and a 1-year high of $39.63. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 8.98 and a beta of 0.93. The company’s fifty day moving average price is $36.04 and its two-hundred day moving average price is $35.47. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.22 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.00%. Renasant’s dividend payout ratio is presently 26.91%.

Insider Activity at Renasant

In other news, CAO Kelly Hutcheson sold 1,310 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $36.72, for a total value of $48,103.20. Following the completion of the sale, the chief accounting officer now directly owns 17,586 shares of the company’s stock, valued at $645,757.92. This represents a 6.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.81% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on RNST shares. Raymond James dropped their price objective on Renasant from $44.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday. 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. Piper Sandler raised their price objective on shares of Renasant from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. StockNews.com lowered shares of Renasant from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $46.00 price target (up from $45.00) on shares of Renasant in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $42.17.

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.