Renasant Corporation (RNST) Shares Sold by Victory Capital Management Inc.
Victory Capital Management Inc. trimmed its stake in Renasant Corporation (NASDAQ:RNST) by 29.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 346,990 shares of the financial services provider’s stock after selling 145,234 shares during the quarter. Victory Capital Management Inc. owned 0.70% of Renasant Corporation worth $14,886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Amalgamated Bank lifted its position in shares of Renasant Corporation by 1.2% in the second quarter. Amalgamated Bank now owns 5,415 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 65 shares in the last quarter. Legal & General Group Plc increased its holdings in Renasant Corporation by 1.1% in the second quarter. Legal & General Group Plc now owns 16,021 shares of the financial services provider’s stock worth $702,000 after buying an additional 178 shares during the last quarter. New York State Teachers Retirement System increased its holdings in 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 worth $151,000 after buying an additional 200 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in Renasant Corporation by 7.5% in the second quarter. Ameritas Investment Partners Inc. now owns 3,792 shares of the financial services provider’s stock worth $166,000 after buying an additional 264 shares during the last quarter. Finally, Great Lakes Advisors LLC increased its holdings in Renasant Corporation by 5.7% in the second quarter. Great Lakes Advisors LLC now owns 6,531 shares of the financial services provider’s stock worth $286,000 after buying an additional 351 shares during the last quarter. 61.96% of the stock is owned by institutional investors and hedge funds.
RNST has been the topic of a number of research reports. Zacks Investment Research upgraded Renasant Corporation from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Wednesday, September 20th. BidaskClub downgraded Renasant Corporation from a “hold” rating to a “sell” rating in a report on Sunday, July 16th. ValuEngine upgraded Renasant Corporation from a “hold” rating to a “buy” rating in a report on Monday, September 18th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $43.00 price objective on shares of Renasant Corporation in a report on Friday, September 29th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The company currently has an average rating of “Hold” and an average target price of $44.00.
In other Renasant Corporation news, Director J Niles Mcneel sold 10,000 shares of the stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $42.39, for a total transaction of $423,900.00. Following the transaction, the director now owns 29,921 shares in the company, valued at $1,268,351.19. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 3.86% of the company’s stock.
Renasant Corporation (NASDAQ RNST) opened at $40.00 on Monday. Renasant Corporation has a twelve month low of $36.71 and a twelve month high of $45.31. The company has a market capitalization of $1,972.81, a P/E ratio of 16.88 and a beta of 1.00. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 0.15.
Renasant Corporation (NASDAQ:RNST) last released its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.08). Renasant Corporation had a return on equity of 8.57% and a net margin of 20.44%. The firm had revenue of $123.43 million during the quarter, compared to analyst estimates of $127.07 million. During the same quarter in the prior year, the company posted $0.59 EPS. analysts expect that Renasant Corporation will post 2.33 EPS for the current fiscal year.
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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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