GSA Capital Partners LLP acquired a new stake in shares of Renasant Corp. (NASDAQ:RNST) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,191 shares of the financial services provider’s stock, valued at approximately $472,000.
A number of other institutional investors have also recently made changes to their positions in the stock. Bessemer Group Inc. raised its position in shares of Renasant Corp. by 5.9% in the fourth quarter. Bessemer Group Inc. now owns 55,800 shares of the financial services provider’s stock valued at $2,356,000 after buying an additional 3,100 shares during the period. Green Square Capital LLC raised its position in shares of Renasant Corp. by 4.9% in the third quarter. Green Square Capital LLC now owns 11,961 shares of the financial services provider’s stock valued at $402,000 after buying an additional 558 shares during the period. Monarch Partners Asset Management LLC raised its position in shares of Renasant Corp. by 24.6% in the third quarter. Monarch Partners Asset Management LLC now owns 205,390 shares of the financial services provider’s stock valued at $6,907,000 after buying an additional 40,580 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Renasant Corp. by 4.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,635,004 shares of the financial services provider’s stock valued at $111,250,000 after buying an additional 119,371 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of Renasant Corp. during the fourth quarter valued at $1,074,000. 59.29% of the stock is owned by institutional investors and hedge funds.
Renasant Corp. (NASDAQ:RNST) opened at 40.90 on Tuesday. The stock has a 50 day moving average price of $40.70 and a 200-day moving average price of $38.34. Renasant Corp. has a 12-month low of $30.21 and a 12-month high of $44.65. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 18.85 and a beta of 1.02.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be issued a dividend of $0.18 per share. The ex-dividend date is Wednesday, March 15th. This represents a $0.72 annualized dividend and a dividend yield of 1.76%. Renasant Corp.’s payout ratio is 33.33%.
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Several equities analysts have weighed in on RNST shares. Jefferies Group LLC lowered Renasant Corp. from a “buy” rating to a “hold” rating and set a $41.00 price objective for the company. in a report on Monday, November 28th. Zacks Investment Research raised Renasant Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, November 29th. Finally, Keefe, Bruyette & Woods lowered Renasant Corp. from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $37.00 to $43.00 in a report on Tuesday, November 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Renasant Corp. has a consensus rating of “Hold” and a consensus price target of $37.80.
In related news, CEO Edward Robinson Mcgraw sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $42.04, for a total value of $210,200.00. Following the completion of the transaction, the chief executive officer now directly owns 15,000 shares in the company, valued at approximately $630,600. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael D. Ross sold 32,735 shares of the business’s stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $40.77, for a total transaction of $1,334,605.95. The disclosure for this sale can be found here. Insiders have sold 48,870 shares of company stock valued at $1,998,702 over the last quarter. Company 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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