Renasant Corporation (RNST) Director Fred F. Sharpe Purchases 4,000 Shares
Renasant Corporation (NASDAQ:RNST) Director Fred F. Sharpe acquired 4,000 shares of the company’s stock in a transaction on Monday, July 24th. The stock was acquired at an average cost of $42.36 per share, for a total transaction of $169,440.00. Following the completion of the purchase, the director now directly owns 9,666 shares of the company’s stock, valued at approximately $409,451.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Renasant Corporation (NASDAQ RNST) opened at 41.57 on Tuesday. The company’s 50 day moving average is $43.15 and its 200-day moving average is $41.46. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 18.75 and a beta of 1.04. Renasant Corporation has a 52-week low of $31.56 and a 52-week high of $45.31.
Renasant Corporation (NASDAQ:RNST) last announced its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.04. Renasant Corporation had a net margin of 20.31% and a return on equity of 8.41%. The company had revenue of $113.87 million for the quarter, compared to the consensus estimate of $112.43 million. During the same period in the prior year, the firm posted $0.59 EPS. Equities analysts anticipate that Renasant Corporation will post $2.34 EPS for the current fiscal year.
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Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in Renasant Corporation by 28,180.2% in the first quarter. BlackRock Inc. now owns 2,801,720 shares of the financial services provider’s stock valued at $111,200,000 after buying an additional 2,791,813 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Renasant Corporation by 44.4% in the first quarter. Vanguard Group Inc. now owns 3,410,031 shares of the financial services provider’s stock valued at $135,344,000 after buying an additional 1,048,279 shares during the period. Norges Bank acquired a new position in shares of Renasant Corporation during the fourth quarter valued at $18,172,000. Wells Fargo & Company MN boosted its position in shares of Renasant Corporation by 49.1% in the first quarter. Wells Fargo & Company MN now owns 956,436 shares of the financial services provider’s stock valued at $37,962,000 after buying an additional 315,049 shares during the period. Finally, State Street Corp boosted its position in shares of Renasant Corporation by 26.8% in the first quarter. State Street Corp now owns 1,171,052 shares of the financial services provider’s stock valued at $46,483,000 after buying an additional 247,806 shares during the period. Institutional investors and hedge funds own 66.65% of the company’s stock.
A number of research firms have weighed in on RNST. BidaskClub lowered shares of Renasant Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Zacks Investment Research lowered shares of Renasant Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $44.00 price objective on shares of Renasant Corporation in a research note on Friday, July 14th. ValuEngine raised shares of Renasant Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Finally, Keefe, Bruyette & Woods set a $43.00 price target on shares of Renasant Corporation and gave the company a “hold” rating in a research report on Saturday, May 27th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company presently 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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