Renasant Corp $RNST Shares Sold by Stieven Capital Advisors L.P.

Stieven Capital Advisors L.P. lowered its position in shares of Renasant Corp (NYSE:RNST) by 4.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 412,632 shares of the company’s stock after selling 19,400 shares during the period. Renasant makes up about 2.9% of Stieven Capital Advisors L.P.’s investment portfolio, making the stock its 14th largest position. Stieven Capital Advisors L.P.’s holdings in Renasant were worth $15,222,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. First Horizon Corp acquired a new stake in Renasant during the 3rd quarter valued at $25,000. EverSource Wealth Advisors LLC increased its stake in Renasant by 68.7% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 857 shares of the company’s stock worth $32,000 after buying an additional 349 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Renasant by 42.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,152 shares of the company’s stock worth $42,000 after buying an additional 345 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in Renasant in the 1st quarter worth $67,000. Finally, State of Wyoming boosted its position in Renasant by 236.7% in the 2nd quarter. State of Wyoming now owns 5,091 shares of the company’s stock valued at $183,000 after buying an additional 3,579 shares during the last quarter. 77.31% of the stock is owned by institutional investors and hedge funds.

Renasant Price Performance

RNST opened at $35.70 on Friday. Renasant Corp has a 12-month low of $26.97 and a 12-month high of $42.11. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $3.36 billion, a PE ratio of 16.84 and a beta of 0.97. The company has a fifty day moving average of $38.22.

Renasant (NYSE:RNST) last announced its quarterly earnings data on Tuesday, January 27th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.11. The company had revenue of $278.52 million during the quarter, compared to analyst estimates of $269.00 million. Renasant had a net margin of 12.55% and a return on equity of 7.53%.

Renasant Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Tuesday, March 17th. Renasant’s dividend payout ratio (DPR) is 43.40%.

Wall Street Analysts Forecast Growth

RNST has been the subject of several recent analyst reports. Wall Street Zen upgraded Renasant from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. TD Cowen reiterated a “buy” rating on shares of Renasant in a research note on Thursday, January 29th. Weiss Ratings raised Renasant from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Finally, Hovde Group raised their price objective on Renasant from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company’s stock. According to MarketBeat.com, Renasant has a consensus rating of “Buy” and an average target price of $43.00.

Insider Activity at Renasant

In related news, EVP Mark Jeanfreau sold 6,000 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $37.88, for a total value of $227,280.00. Following the completion of the sale, the executive vice president directly owned 65,172 shares of the company’s stock, valued at $2,468,715.36. The trade was a 8.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Kelly Hutcheson sold 1,350 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $38.65, for a total value of $52,177.50. Following the sale, the chief accounting officer owned 16,728 shares in the company, valued at $646,537.20. The trade was a 7.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 19,850 shares of company stock valued at $752,333 over the last three months. 2.81% of the stock is owned by insiders.

About Renasant

Renasant Corporation operates as a bank holding company for Renasant Bank that provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and equipment leasing services, as well as safe deposit and night depository facilities. It also provides commercial, financial, and agricultural loans; equipment financing and leasing; real estate?1-4 family mortgage; real estate?commercial mortgage; real estate?construction loans for the construction of single family residential properties, multi-family properties, and commercial projects; installment loans to individuals; and interim construction loans, as well as automated teller machine (ATM), online and mobile banking, call center, and treasury management services.