Dimensional Fund Advisors LP raised its position in shares of Renasant Corp. (NASDAQ:RNST) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,419,967 shares of the financial services provider’s stock after buying an additional 13,201 shares during the period. Dimensional Fund Advisors LP owned approximately 5.75% of Renasant Corp. worth $78,236,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the stock. Goldman Sachs Group Inc. increased its position in shares of Renasant Corp. by 38.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,199,370 shares of the financial services provider’s stock worth $39,471,000 after buying an additional 333,957 shares in the last quarter. Norges Bank acquired a new position in shares of Renasant Corp. during the fourth quarter worth approximately $10,676,000. State Street Corp increased its position in shares of Renasant Corp. by 24.0% in the first quarter. State Street Corp now owns 782,398 shares of the financial services provider’s stock worth $25,747,000 after buying an additional 151,512 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of Renasant Corp. during the second quarter worth approximately $3,180,000. Finally, Palisade Capital Management LLC NJ increased its position in Renasant Corp. by 10.6% in the first quarter. Palisade Capital Management LLC NJ now owns 799,982 shares of the financial services provider’s stock worth $26,327,000 after buying an additional 76,746 shares during the period. Institutional investors own 60.13% of the company’s stock.
Renasant Corp. (NASDAQ:RNST) traded down 1.58% during midday trading on Monday, hitting $32.98. The stock had a trading volume of 30,473 shares. The company’s 50 day moving average price is $34.15 and its 200-day moving average price is $33.31. Renasant Corp. has a 52-week low of $29.49 and a 52-week high of $37.28. The stock has a market cap of $1.39 billion, a PE ratio of 16.61 and a beta of 0.98.
Renasant Corp. (NASDAQ:RNST) last announced its earnings results on Tuesday, July 19th. The financial services provider reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.02. Renasant Corp. had a return on equity of 8.53% and a net margin of 18.32%. Analysts forecast that Renasant Corp. will post $2.22 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Wednesday, September 14th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Monday, September 12th. Renasant Corp.’s dividend payout ratio (DPR) is 36.36%.
A number of equities analysts have issued reports on RNST shares. Jefferies Group reiterated a “buy” rating and issued a $39.00 price objective on shares of Renasant Corp. in a report on Wednesday, July 20th. Zacks Investment Research upgraded Renasant Corp. from a “sell” rating to a “hold” rating in a report on Saturday, September 17th. Finally, Raymond James Financial Inc. downgraded Renasant Corp. from a “strong-buy” rating to an “outperform” rating and set a $38.00 price objective for the company. in a report on Monday, September 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Renasant Corp. presently has a consensus rating of “Hold” and an average target price of $35.20.
In other Renasant Corp. news, Director Fred F. Sharpe acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The stock was bought at an average price of $35.12 per share, for a total transaction of $35,120.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider O Leonard Dorminey sold 6,000 shares of the business’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $33.01, for a total value of $198,060.00. The disclosure for this sale can be found here. 5.18% of the stock is owned by insiders.
Renasant Corp. Company Profile
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.
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