Renasant Co. (NASDAQ:RNST – Get Free Report) CAO Kelly Hutcheson sold 1,310 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $36.72, for a total transaction of $48,103.20. Following the completion of the transaction, the chief accounting officer now owns 17,586 shares of the company’s stock, valued at $645,757.92. This trade represents a 6.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Renasant Stock Up 0.6 %
RNST stock traded up $0.23 on Monday, reaching $36.92. 82,512 shares of the company traded hands, compared to its average volume of 520,338. The firm has a fifty day simple moving average of $36.75 and a 200-day simple moving average of $35.19. The company has a market cap of $2.35 billion, a P/E ratio of 11.27 and a beta of 1.03. Renasant Co. has a one year low of $27.98 and a one year high of $39.63. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94.
Renasant Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Monday, March 17th. Renasant’s dividend payout ratio is presently 26.91%.
Analysts Set New Price Targets
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Institutional Trading of Renasant
Several institutional investors have recently bought and sold shares of RNST. Mutual of America Capital Management LLC raised its holdings in 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 worth $311,000 after buying an additional 300 shares during the last quarter. HighTower Advisors LLC increased its position in shares of Renasant by 3.4% during the fourth quarter. HighTower Advisors LLC now owns 11,503 shares of the financial services provider’s stock valued at $411,000 after acquiring an additional 377 shares in the last quarter. Bank of Montreal Can raised its holdings in Renasant by 4.1% in the 4th quarter. Bank of Montreal Can now owns 9,619 shares of the financial services provider’s stock worth $344,000 after acquiring an additional 383 shares during the last quarter. Arizona State Retirement System lifted its position in Renasant by 2.4% in the 4th quarter. Arizona State Retirement System now owns 18,445 shares of the financial services provider’s stock valued at $659,000 after acquiring an additional 424 shares in the last quarter. Finally, Sheets Smith Wealth Management boosted its stake in Renasant by 3.6% during the 4th quarter. Sheets Smith Wealth Management now owns 12,471 shares of the financial services provider’s stock valued at $446,000 after purchasing an additional 438 shares during the last quarter. 77.31% of the stock is owned by hedge funds and other institutional investors.
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.
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