PNC Financial Services Group Inc. lowered its position in shares of Renasant Corp. (NASDAQ:RNST) by 10.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,621 shares of the financial services provider’s stock after selling 411 shares during the period. PNC Financial Services Group Inc.’s holdings in Renasant Corp. were worth $117,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. increased its position in 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 period. Carroll Financial Associates Inc. increased its position in 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 period. Boothbay Fund Management LLC bought a new position in Renasant Corp. during the first quarter worth approximately $234,000. Green Square Capital LLC increased its position in 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 period. Finally, Intrust Bank NA bought a new position in Renasant Corp. during the second quarter worth approximately $397,000. Hedge funds and other institutional investors own 60.13% of the company’s stock.
Renasant Corp. (NASDAQ:RNST) traded down 0.41% on Tuesday, hitting $33.93. 7,624 shares of the stock were exchanged. The stock has a market cap of $1.43 billion, a PE ratio of 17.08 and a beta of 0.98. Renasant Corp. has a 1-year low of $29.49 and a 1-year high of $37.28. The company’s 50 day moving average is $34.22 and its 200 day moving average is $33.41.
Renasant Corp. (NASDAQ:RNST) last released its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.02. Renasant Corp. had a net margin of 18.32% and a return on equity of 8.53%. On average, equities research analysts expect that Renasant Corp. will post $2.22 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Wednesday, September 14th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date was Monday, September 12th. Renasant Corp.’s dividend payout ratio is 36.36%.
A number of research analysts have commented on RNST shares. Zacks Investment Research upgraded shares of Renasant Corp. from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Wednesday, June 29th. Jefferies Group reiterated a “buy” rating and set a $39.00 price objective on shares of Renasant Corp. in a research note on Wednesday, July 20th. Finally, Raymond James Financial Inc. downgraded shares of Renasant Corp. from a “strong-buy” rating to an “outperform” rating and set a $38.00 price objective on the stock. in a research note on Monday, September 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $35.20.
In other news, Director Fred F. Sharpe purchased 1,000 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were bought at an average price of $35.12 per share, with a total value of $35,120.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP R Rick Hart sold 4,000 shares of Renasant Corp. stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $33.15, for a total transaction of $132,600.00. Following the completion of the transaction, 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. 5.18% of the stock is currently owned by insiders.
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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