James W. Gray Sells 5,000 Shares of Renasant Corp. (RNST) Stock
Renasant Corp. (NASDAQ:RNST) EVP James W. Gray sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $39.50, for a total value of $197,500.00. Following the sale, the executive vice president now owns 14,214 shares in the company, valued at approximately $561,453. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Renasant Corp. (NASDAQ:RNST) opened at 40.91 on Wednesday. The company has a 50-day moving average price of $34.90 and a 200 day moving average price of $33.84. The firm has a market capitalization of $1.72 billion, a PE ratio of 19.19 and a beta of 0.94. Renasant Corp. has a 52-week low of $29.49 and a 52-week high of $40.98.
Renasant Corp. (NASDAQ:RNST) last issued its quarterly earnings results on Tuesday, October 18th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.01. Renasant Corp. had a return on equity of 8.64% and a net margin of 19.24%. During the same period in the prior year, the company earned $0.53 EPS. Analysts expect that Renasant Corp. will post $2.19 EPS for the current fiscal year.
Large investors have recently modified their holdings of the stock. Verition Fund Management LLC acquired a new stake in shares of Renasant Corp. during the third quarter valued at about $216,000. Dean Investment Associates LLC increased its stake in shares of Renasant Corp. by 1.9% in the third quarter. Dean Investment Associates LLC now owns 76,370 shares of the financial services provider’s stock valued at $2,568,000 after buying an additional 1,460 shares in the last quarter. Green Square Capital LLC increased its stake in shares of Renasant Corp. by 4.9% in the third quarter. Green Square Capital LLC now owns 11,961 shares of the financial services provider’s stock valued at $402,000 after buying an additional 558 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of Renasant Corp. by 26.5% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 4,300 shares of the financial services provider’s stock valued at $145,000 after buying an additional 900 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in Renasant Corp. during the third quarter worth $15,152,000. 61.75% of the stock is currently owned by institutional investors.
Several brokerages have issued reports on RNST. Zacks Investment Research upgraded Renasant Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, November 16th. Raymond James Financial Inc. cut Renasant Corp. from a “strong-buy” rating to an “outperform” rating and set a $38.00 price target on the stock. in a research report on Monday, September 12th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $35.20.
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Renasant Corp. Company Profile
Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance), a subsidiary of the Bank with operations in Mississippi. The Company operates through three segments: Community Banks segment, Insurance segment and Wealth Management segment.
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