Renasant Corporation (RNST) Position Boosted by American International Group Inc.
American International Group Inc. raised its holdings in shares of Renasant Corporation (NASDAQ:RNST) by 8.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,965 shares of the financial services provider’s stock after buying an additional 2,166 shares during the quarter. American International Group Inc. owned about 0.06% of Renasant worth $1,243,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of RNST. Aperio Group LLC purchased a new position in Renasant during the second quarter worth about $229,000. Russell Investments Group Ltd. grew its position in Renasant by 27.8% during the second quarter. Russell Investments Group Ltd. now owns 41,300 shares of the financial services provider’s stock worth $1,807,000 after buying an additional 8,990 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Renasant by 3.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 182,292 shares of the financial services provider’s stock worth $7,974,000 after buying an additional 6,157 shares in the last quarter. Rhumbline Advisers grew its position in Renasant by 4.4% during the second quarter. Rhumbline Advisers now owns 52,615 shares of the financial services provider’s stock worth $2,301,000 after buying an additional 2,200 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Renasant by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 297,139 shares of the financial services provider’s stock worth $12,997,000 after buying an additional 6,792 shares in the last quarter. Institutional investors and hedge funds own 65.39% of the company’s stock.
Several equities analysts recently commented on the company. BidaskClub cut Renasant from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. ValuEngine cut Renasant from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Zacks Investment Research cut Renasant from a “buy” rating to a “hold” rating in a report on Saturday, October 21st. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $43.00 price objective on shares of Renasant in a report on Friday, September 29th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $44.00.
Renasant Corporation (RNST) opened at $41.72 on Friday. Renasant Corporation has a fifty-two week low of $37.68 and a fifty-two week high of $45.31. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $1,965.41, a PE ratio of 16.81 and a beta of 1.00.
Renasant (NASDAQ:RNST) last posted its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.08). Renasant had a return on equity of 8.15% and a net margin of 20.44%. The firm had revenue of $123.43 million during the quarter, compared to analysts’ expectations of $127.07 million. During the same quarter in the previous year, the company posted $0.59 earnings per share. research analysts anticipate that Renasant Corporation will post 2.3 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be issued a $0.19 dividend. This is a boost from Renasant’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Thursday, December 14th. Renasant’s dividend payout ratio is presently 34.70%.
WARNING: This report was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this report on another domain, it was stolen and reposted in violation of US & international trademark and copyright law. The original version of this report can be accessed at https://www.thecerbatgem.com/2017/12/17/renasant-corporation-rnst-position-boosted-by-american-international-group-inc.html.
Renasant 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.
Receive News & Stock Ratings for Renasant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Renasant and related stocks with our FREE daily email newsletter.