John Creekmore Sells 3,000 Shares of Renasant Co. (NASDAQ:RNST) Stock

Renasant Co. (NASDAQ:RNST) Director John Creekmore sold 3,000 shares of Renasant stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $38.00, for a total value of $114,000.00. Following the completion of the transaction, the director now owns 24,057 shares of the company’s stock, valued at approximately $914,166. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Renasant Price Performance

NASDAQ RNST opened at $36.79 on Friday. The stock has a market capitalization of $2.38 billion, a P/E ratio of 11.98 and a beta of 1.01. Renasant Co. has a 1 year low of $25.07 and a 1 year high of $38.46. The business’s fifty day moving average is $33.25 and its two-hundred day moving average is $32.05. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.96.

Renasant (NASDAQ:RNST) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. The company had revenue of $318.34 million for the quarter, compared to analysts’ expectations of $184.73 million. Renasant had a return on equity of 6.70% and a net margin of 16.83%. During the same quarter in the prior year, the company earned $0.75 earnings per share. On average, research analysts forecast that Renasant Co. will post 2.62 earnings per share for the current fiscal year.

Renasant Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.39%. The ex-dividend date was Monday, September 16th. Renasant’s dividend payout ratio (DPR) is currently 28.66%.

Institutional Trading of Renasant

Several large investors have recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC raised its stake in Renasant by 3.2% during the 3rd quarter. Mutual of America Capital Management LLC now owns 9,560 shares of the financial services provider’s stock valued at $311,000 after purchasing an additional 300 shares during the period. Louisiana State Employees Retirement System raised its stake in Renasant by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 28,300 shares of the financial services provider’s stock valued at $864,000 after purchasing an additional 500 shares during the period. KBC Group NV raised its stake in Renasant by 32.0% during the 3rd quarter. KBC Group NV now owns 2,457 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 596 shares during the period. Texas Permanent School Fund Corp raised its stake in Renasant by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 49,135 shares of the financial services provider’s stock valued at $1,539,000 after purchasing an additional 637 shares during the period. Finally, ProShare Advisors LLC raised its stake in Renasant by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 11,153 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 765 shares during the period. 77.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on RNST shares. Truist Financial reduced their price objective on Renasant from $38.00 to $37.00 and set a “hold” rating for the company in a research report on Friday, September 20th. Stephens upgraded Renasant from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $34.00 to $41.00 in a research report on Wednesday, July 31st. Piper Sandler upgraded Renasant from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $34.00 to $40.00 in a research report on Monday, August 5th. Keefe, Bruyette & Woods upgraded Renasant from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $36.00 to $40.00 in a research report on Friday, August 2nd. Finally, Raymond James upgraded Renasant from a “market perform” rating to an “outperform” rating and set a $39.00 target price for the company in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Renasant presently has an average rating of “Moderate Buy” and a consensus target price of $39.33.

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. The company operates through Community Banks, Insurance, and Wealth Management segments. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and factoring equipment leasing services, as well as safe deposit and night depository facilities.