Renasant Corporation (RNST) Stake Decreased by Nationwide Fund Advisors
Nationwide Fund Advisors trimmed its stake in shares of Renasant Corporation (NASDAQ:RNST) by 2.8% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 31,041 shares of the financial services provider’s stock after selling 888 shares during the quarter. Nationwide Fund Advisors owned about 0.07% of Renasant Corporation worth $1,358,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its position in shares of Renasant Corporation by 1.1% during the 2nd quarter. Legal & General Group Plc now owns 16,021 shares of the financial services provider’s stock valued at $702,000 after acquiring an additional 178 shares during the period. New York State Teachers Retirement System lifted its position in shares of Renasant Corporation by 5.6% during the 1st quarter. New York State Teachers Retirement System now owns 3,800 shares of the financial services provider’s stock valued at $151,000 after acquiring an additional 200 shares during the period. Amalgamated Bank lifted its position in shares of Renasant Corporation by 4.2% during the 1st quarter. Amalgamated Bank now owns 5,350 shares of the financial services provider’s stock valued at $212,000 after acquiring an additional 214 shares during the period. Smith Shellnut Wilson LLC ADV lifted its position in shares of Renasant Corporation by 4.7% during the 2nd quarter. Smith Shellnut Wilson LLC ADV now owns 6,870 shares of the financial services provider’s stock valued at $222,000 after acquiring an additional 309 shares during the period. Finally, Great Lakes Advisors LLC lifted its position in shares of Renasant Corporation by 5.7% during the 2nd quarter. Great Lakes Advisors LLC now owns 6,531 shares of the financial services provider’s stock valued at $286,000 after acquiring an additional 351 shares during the period. Hedge funds and other institutional investors own 61.48% of the company’s stock.
A number of analysts have recently weighed in on the company. Zacks Investment Research downgraded Renasant Corporation from a “buy” rating to a “hold” rating in a research report on Saturday. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $43.00 target price on shares of Renasant Corporation in a research report on Friday, September 29th. ValuEngine upgraded Renasant Corporation from a “hold” rating to a “buy” rating in a research report on Monday, September 18th. BidaskClub downgraded Renasant Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $44.00 target price on shares of Renasant Corporation in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $44.00.
Shares of Renasant Corporation (NASDAQ RNST) opened at 42.64 on Friday. The company’s 50 day moving average price is $41.26 and its 200 day moving average price is $41.69. Renasant Corporation has a 12 month low of $32.51 and a 12 month high of $45.32. The company has a market capitalization of $2.10 billion, a P/E ratio of 19.39 and a beta of 1.05.
Renasant Corporation (NASDAQ:RNST) last posted its earnings results on Tuesday, October 17th. The financial services provider reported $0.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.08). Renasant Corporation had a return on equity of 8.57% and a net margin of 20.44%. The business had revenue of $123.43 million for the quarter, compared to analysts’ expectations of $127.07 million. During the same quarter in the previous year, the firm earned $0.59 earnings per share. Analysts expect that Renasant Corporation will post $2.31 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.69%. The ex-dividend date was Thursday, September 14th. Renasant Corporation’s payout ratio is 32.88%.
In related news, 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 directly owns 25,620 shares in the company, valued at $1,089,874.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Fred F. Sharpe bought 2,000 shares of Renasant Corporation stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average price of $39.55 per share, with a total value of $79,100.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 9,023 shares of company stock valued at $375,621. 3.86% of the stock is owned by company insiders.
Renasant Corporation 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.
Receive News & Stock Ratings for Renasant Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Renasant Corporation and related stocks with our FREE daily email newsletter.