ValuEngine upgraded shares of Renasant (NASDAQ:RNST) from a hold rating to a buy rating in a research report report published on Wednesday morning.
Several other brokerages also recently weighed in on RNST. Hovde Group set a $47.00 price target on shares of Renasant and gave the company a hold rating in a research report on Friday, January 19th. BidaskClub downgraded shares of Renasant from a hold rating to a sell rating in a research report on Friday, December 29th. Zacks Investment Research downgraded shares of Renasant from a buy rating to a hold rating in a research report on Wednesday, February 14th. Sandler O’Neill reissued a hold rating and set a $45.00 price target on shares of Renasant in a research report on Thursday, January 4th. Finally, Keefe, Bruyette & Woods reissued a hold rating and set a $45.00 price target on shares of Renasant in a research report on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Renasant presently has an average rating of Hold and a consensus price target of $45.60.
Renasant (RNST) traded up $0.89 during mid-day trading on Wednesday, hitting $44.93. 137,943 shares of the stock traded hands, compared to its average volume of 136,399. Renasant has a 1 year low of $37.68 and a 1 year high of $45.31. The stock has a market capitalization of $2,216.67, a price-to-earnings ratio of 18.57 and a beta of 1.03. The company has a quick ratio of 0.91, a current ratio of 0.99 and a debt-to-equity ratio of 0.14.
The company also recently declared a dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, March 15th. Renasant’s dividend payout ratio (DPR) is currently 38.58%.
In other Renasant news, EVP James W. Gray sold 5,000 shares of Renasant stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $44.04, for a total value of $220,200.00. Following the completion of the sale, the executive vice president now owns 50,003 shares of the company’s stock, valued at approximately $2,202,132.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Fred F. Sharpe bought 2,000 shares of the business’s stock in a transaction on Friday, January 19th. The stock was bought at an average cost of $43.80 per share, with a total value of $87,600.00. Following the transaction, the director now owns 11,666 shares in the company, valued at approximately $510,970.80. The disclosure for this purchase can be found here. Insiders have sold 23,948 shares of company stock valued at $1,048,833 in the last three months. 3.86% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the business. BlackRock Inc. grew its position in Renasant by 5.7% in the 4th quarter. BlackRock Inc. now owns 3,025,099 shares of the financial services provider’s stock worth $123,696,000 after purchasing an additional 162,700 shares during the period. Dimensional Fund Advisors LP grew its position in Renasant by 2.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,017,641 shares of the financial services provider’s stock worth $129,456,000 after purchasing an additional 82,379 shares during the period. Goldman Sachs Group Inc. grew its position in Renasant by 0.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,722,325 shares of the financial services provider’s stock worth $70,425,000 after purchasing an additional 13,157 shares during the period. Wells Fargo & Company MN grew its position in Renasant by 13.0% in the 4th quarter. Wells Fargo & Company MN now owns 1,607,332 shares of the financial services provider’s stock worth $65,723,000 after purchasing an additional 184,315 shares during the period. Finally, Ameriprise Financial Inc. grew its position in Renasant by 2.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 800,249 shares of the financial services provider’s stock worth $34,330,000 after purchasing an additional 15,551 shares during the period. 64.81% of the stock is owned by institutional investors and hedge funds.
Renasant Company Profile
Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance). The Company’s segments include Community Banks, which delivers a range of banking and financial services to individuals and small to medium-sized businesses, including checking and savings accounts, business and personal loans, equipment leasing, as well as safe deposit and night depository facilities; Insurance, which includes a full service insurance agency offering all lines of commercial and personal insurance through major carriers; Wealth Management, which offers a range of fiduciary services that includes the administration and management of trust accounts, including personal and corporate benefit accounts, and custodial accounts, and Other.
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