Insider Selling: Renasant Corporation (NASDAQ:RNST) Director Sells 15,000 Shares of Stock
Renasant Corporation (NASDAQ:RNST) Director Albert J. Dale III sold 15,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $42.54, for a total transaction of $638,100.00. Following the completion of the transaction, the director now owns 25,620 shares of the company’s stock, valued at $1,089,874.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Renasant Corporation (NASDAQ RNST) traded down 0.21% during midday trading on Thursday, hitting $42.05. The stock had a trading volume of 110,949 shares. The firm has a 50 day moving average price of $43.15 and a 200 day moving average price of $41.46. The stock has a market cap of $1.87 billion, a PE ratio of 18.97 and a beta of 1.04. Renasant Corporation has a one year low of $31.56 and a one year high of $45.32.
Renasant Corporation (NASDAQ:RNST) last posted its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The company had revenue of $113.87 million for the quarter, compared to analyst estimates of $112.43 million. Renasant Corporation had a return on equity of 8.41% and a net margin of 20.31%. During the same quarter last year, the company earned $0.59 EPS. On average, equities analysts forecast that Renasant Corporation will post $2.34 earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. bought a new stake in Renasant Corporation during the first quarter worth about $140,000. New York State Teachers Retirement System raised its stake in shares of Renasant Corporation by 5.6% in the first quarter. New York State Teachers Retirement System now owns 3,800 shares of the financial services provider’s stock valued at $151,000 after buying an additional 200 shares during the period. Amalgamated Bank raised its stake in shares of Renasant Corporation by 4.2% in the first quarter. Amalgamated Bank now owns 5,350 shares of the financial services provider’s stock valued at $212,000 after buying an additional 214 shares during the period. Trust Co. of Toledo NA OH acquired a new stake in shares of Renasant Corporation during the second quarter valued at $214,000. Finally, Smith Shellnut Wilson LLC ADV raised its stake in shares of Renasant Corporation by 4.7% in the second quarter. Smith Shellnut Wilson LLC ADV now owns 6,870 shares of the financial services provider’s stock valued at $222,000 after buying an additional 309 shares during the period. 66.78% of the stock is currently owned by institutional investors.
A number of equities analysts have commented on RNST shares. Jefferies Group LLC reiterated a “hold” rating and issued a $44.00 target price on shares of Renasant Corporation in a report on Friday, July 14th. BidaskClub downgraded shares of Renasant Corporation from a “hold” rating to a “sell” rating in a report on Sunday, July 16th. Zacks Investment Research downgraded shares of Renasant Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. ValuEngine upgraded shares of Renasant Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Finally, Keefe, Bruyette & Woods set a $43.00 target price on shares of Renasant Corporation and gave the stock a “hold” rating in a report on Saturday, May 27th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $43.50.
Renasant Corporation Company Profile
Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance). The Company’s segments include Community Banks, which delivers a range of banking and financial services to individuals and small to medium-sized businesses, including checking and savings accounts, business and personal loans, equipment leasing, as well as safe deposit and night depository facilities; Insurance, which includes a full service insurance agency offering all lines of commercial and personal insurance through major carriers; Wealth Management, which offers a range of fiduciary services that includes the administration and management of trust accounts, including personal and corporate benefit accounts, and custodial accounts, and Other.
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