BlackRock Fund Advisors lowered its stake in Renasant Corp. (NASDAQ:RNST) by 2.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,033,406 shares of the financial services provider’s stock after selling 27,158 shares during the period. BlackRock Fund Advisors owned approximately 2.56% of Renasant Corp. worth $34,009,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its position in Renasant Corp. by 6.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,284,700 shares of the financial services provider’s stock valued at $78,617,000 after buying an additional 136,608 shares in the last quarter. Jennison Associates LLC increased its position in Renasant Corp. by 49.8% in the fourth quarter. Jennison Associates LLC now owns 439,455 shares of the financial services provider’s stock valued at $15,122,000 after buying an additional 145,999 shares in the last quarter. WBI Investments Inc. purchased a new position in Renasant Corp. during the fourth quarter valued at approximately $1,838,000. US Bancorp DE increased its position in Renasant Corp. by 11.7% in the fourth quarter. US Bancorp DE now owns 32,338 shares of the financial services provider’s stock valued at $1,112,000 after buying an additional 3,388 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Renasant Corp. by 12.9% in the fourth quarter. Victory Capital Management Inc. now owns 30,357 shares of the financial services provider’s stock valued at $1,044,000 after buying an additional 3,459 shares in the last quarter.
Shares of Renasant Corp. (NASDAQ:RNST) traded up 0.18% during midday trading on Wednesday, hitting $32.74. The stock had a trading volume of 96,129 shares. The firm’s 50-day moving average price is $32.89 and its 200-day moving average price is $32.58. The stock has a market cap of $1.38 billion and a price-to-earnings ratio of 16.49. Renasant Corp. has a 1-year low of $29.49 and a 1-year high of $37.28.
Several research firms have commented on RNST. Zacks Investment Research downgraded Renasant Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, May 3rd. Jefferies Group reiterated a “buy” rating and issued a $39.00 target price on shares of Renasant Corp. in a research report on Wednesday, July 20th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Renasant Corp. presently has a consensus rating of “Hold” and an average price target of $34.50.
In other news, insider O Leonard Dorminey sold 6,000 shares of the firm’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $33.01, for a total transaction of $198,060.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director J Niles Mcneel sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $33.51, for a total value of $83,775.00. Following the transaction, the director now owns 38,374 shares of the company’s stock, valued at approximately $1,285,912.74. The disclosure for this sale can be found here.
Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance), a subsidiary of the Bank with operations in Mississippi. The Company operates through three segments: Community Banks segment, Insurance segment and Wealth Management segment.
