Emerald Mutual Fund Advisers Trust reduced its position in Renasant Corp. (NASDAQ:RNST) by 54.0% during the second quarter, Holdings Channel reports. The fund owned 45,042 shares of the financial services provider’s stock after selling 52,770 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Renasant Corp. were worth $1,456,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of RNST. Green Square Capital LLC boosted its position in shares of Renasant Corp. by 11.2% in the second quarter. Green Square Capital LLC now owns 11,403 shares of the financial services provider’s stock worth $369,000 after buying an additional 1,152 shares during the last quarter. Hancock Holding Co. boosted its position in shares of Renasant Corp. by 0.5% in the first quarter. Hancock Holding Co. now owns 302,770 shares of the financial services provider’s stock worth $9,964,000 after buying an additional 1,400 shares during the last quarter. BlackRock Inc. boosted its position in shares of Renasant Corp. by 157.1% in the first quarter. BlackRock Inc. now owns 3,095 shares of the financial services provider’s stock worth $102,000 after buying an additional 1,891 shares during the last quarter. Carroll Financial Associates Inc. boosted its position in shares of Renasant Corp. by 29,960.0% in the second quarter. Carroll Financial Associates Inc. now owns 4,509 shares of the financial services provider’s stock worth $145,000 after buying an additional 4,494 shares during the last quarter. Finally, Boothbay Fund Management LLC bought a new position in shares of Renasant Corp. during the first quarter worth approximately $234,000. Institutional investors own 60.13% of the company’s stock.
Shares of Renasant Corp. (NASDAQ:RNST) remained flat at $33.85 during mid-day trading on Friday. 65,081 shares of the stock traded hands. The firm has a market cap of $1.42 billion, a PE ratio of 17.04 and a beta of 0.98. The firm has a 50 day moving average price of $34.22 and a 200 day moving average price of $33.37. Renasant Corp. has a 52-week low of $29.49 and a 52-week high of $37.28.
Renasant Corp. (NASDAQ:RNST) last issued its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Renasant Corp. had a return on equity of 8.53% and a net margin of 18.32%. Equities research analysts predict that Renasant Corp. will post $2.22 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Wednesday, September 14th were issued a dividend of $0.18 per share. The ex-dividend date was Monday, September 12th. This represents a $0.72 dividend on an annualized basis and a yield of 2.13%. Renasant Corp.’s dividend payout ratio (DPR) is 36.36%.
A number of brokerages recently commented on RNST. Zacks Investment Research upgraded Renasant Corp. from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Wednesday, June 29th. Raymond James Financial Inc. cut Renasant Corp. from a “strong-buy” rating to an “outperform” rating and set a $38.00 target price on the stock. in a research report on Monday, September 12th. Finally, 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $35.20.
In related news, Director Fred F. Sharpe acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The shares were acquired at an average price of $35.12 per share, with a total value of $35,120.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP R Rick Hart sold 4,000 shares of the stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $33.15, for a total value of $132,600.00. Following the sale, the executive vice president now directly owns 69,139 shares in the company, valued at approximately $2,291,957.85. The disclosure for this sale can be found here. Corporate insiders own 5.18% of the company’s stock.
About Renasant Corp.
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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