Vanguard Group Inc. Has $398.36 Million Stock Holdings in Renasant Co. $RNST

Vanguard Group Inc. trimmed its holdings in Renasant Co. (NASDAQ:RNST) by 0.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,798,537 shares of the financial services provider’s stock after selling 53,883 shares during the period. Vanguard Group Inc. owned 11.36% of Renasant worth $398,358,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Royal Bank of Canada lifted its stake in shares of Renasant by 128.5% in the 1st quarter. Royal Bank of Canada now owns 52,238 shares of the financial services provider’s stock valued at $1,772,000 after purchasing an additional 29,380 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Renasant by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,167 shares of the financial services provider’s stock valued at $1,261,000 after buying an additional 1,621 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Renasant in the first quarter worth about $67,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Renasant by 13.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 189,105 shares of the financial services provider’s stock worth $6,416,000 after acquiring an additional 23,072 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Renasant during the 1st quarter worth about $390,000. Institutional investors own 77.31% of the company’s stock.

Renasant Price Performance

Shares of NASDAQ:RNST opened at $40.00 on Friday. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 12.23 and a beta of 0.99. The business has a 50 day moving average price of $37.93 and a 200 day moving average price of $36.97. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.16. Renasant Co. has a twelve month low of $26.97 and a twelve month high of $42.11.

Renasant (NASDAQ:RNST) last issued its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.80 by $0.11. Renasant had a return on equity of 6.58% and a net margin of 17.91%.The company had revenue of $216.11 million for the quarter, compared to the consensus estimate of $275.40 million. During the same period in the previous year, the business posted $0.73 EPS. Research analysts predict that Renasant Co. will post 2.68 earnings per share for the current year.

Renasant Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, March 17th. Renasant’s dividend payout ratio is presently 43.40%.

Insider Buying and Selling at Renasant

In other news, EVP Mark Jeanfreau sold 6,000 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $37.88, for a total transaction of $227,280.00. Following the transaction, the executive vice president owned 65,172 shares in the company, valued at approximately $2,468,715.36. The trade was a 8.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO James C. Iv Mabry sold 12,500 shares of the company’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $37.83, for a total transaction of $472,875.00. Following the transaction, the chief financial officer directly owned 105,337 shares of the company’s stock, valued at $3,984,898.71. This represents a 10.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.81% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on RNST shares. TD Cowen reissued a “buy” rating on shares of Renasant in a research note on Thursday, January 29th. Hovde Group increased their price target on Renasant from $41.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat.com, Renasant has a consensus rating of “Buy” and a consensus price target of $43.00.

Renasant Profile

Renasant Corporation is a financial holding company providing banking and related services through its primary subsidiary, Renasant Bank. With origins dating back to 1904 in Tupelo, Mississippi, the company offers a comprehensive suite of commercial and consumer banking products, including deposit accounts, lending and treasury management services. Renasant serves individuals, small businesses and corporate clients across the southeastern United States.

The company operates more than 110 banking offices across Mississippi, Alabama, Tennessee, Florida and Georgia, supplemented by a network of ATMs and digital platforms.