Renasant Co. (NASDAQ:RNST) Given Average Recommendation of “Moderate Buy” by Brokerages

Renasant Co. (NASDAQ:RNST) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $42.83.

RNST has been the topic of several research reports. StockNews.com cut shares of Renasant from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Stephens boosted their price target on Renasant from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Raymond James reiterated an “outperform” rating and set a $44.00 price objective (up from $40.00) on shares of Renasant in a report on Thursday, January 30th. Piper Sandler boosted their target price on Renasant from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $46.00 price target (up from $45.00) on shares of Renasant in a research note on Thursday, January 30th.

Insider Transactions at Renasant

In related news, CAO Kelly Hutcheson sold 1,310 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $36.72, for a total transaction of $48,103.20. Following the transaction, the chief accounting officer now directly owns 17,586 shares in the company, valued at approximately $645,757.92. The trade was a 6.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.82% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. KBC Group NV lifted its stake in Renasant by 32.0% in 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 last quarter. Mutual of America Capital Management LLC lifted its position in shares of Renasant by 3.2% in the third quarter. Mutual of America Capital Management LLC now owns 9,560 shares of the financial services provider’s stock valued at $311,000 after buying an additional 300 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Renasant by 6.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 49,910 shares of the financial services provider’s stock worth $1,622,000 after acquiring an additional 3,142 shares during the period. Jennison Associates LLC bought a new position in shares of Renasant during the 3rd quarter worth approximately $12,514,000. Finally, Intech Investment Management LLC acquired a new position in shares of Renasant during the 3rd quarter worth approximately $670,000. Institutional investors own 77.31% of the company’s stock.

Renasant Stock Performance

Shares of RNST stock opened at $34.76 on Friday. 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 has a 52 week low of $27.98 and a 52 week high of $39.63. The company’s 50 day moving average price is $36.47 and its two-hundred day moving average price is $35.40. The company has a market capitalization of $2.21 billion, a P/E ratio of 10.63 and a beta of 1.02.

Renasant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Monday, March 17th. Renasant’s dividend payout ratio (DPR) is 26.91%.

Renasant Company Profile

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.