Renasant (RNST) Rating Increased to Buy at Hilliard Lyons
Hilliard Lyons upgraded shares of Renasant (NASDAQ:RNST) from a neutral rating to a buy rating in a report released on Friday morning, Marketbeat.com reports.
A number of other analysts also recently commented on RNST. Zacks Investment Research downgraded Renasant from a buy rating to a hold rating in a report on Saturday, October 21st. ValuEngine downgraded Renasant from a buy rating to a hold rating in a report on Thursday, November 9th. BidaskClub downgraded Renasant from a hold rating to a sell rating in a report on Tuesday, December 12th. Keefe, Bruyette & Woods restated a hold rating and set a $45.00 price objective on shares of Renasant in a report on Friday, December 22nd. Finally, Sandler O’Neill restated a hold rating and set a $45.00 price objective on shares of Renasant in a report on Thursday, January 4th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $45.60.
Shares of Renasant (NASDAQ RNST) opened at $41.62 on Friday. The company has a market capitalization of $2,003.92, a price-to-earnings ratio of 21.13 and a beta of 1.03. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.14. Renasant has a twelve month low of $37.68 and a twelve month high of $45.31.
In related news, Director Fred F. Sharpe purchased 2,000 shares of the stock in a transaction that occurred on Friday, January 19th. The stock was purchased at an average cost of $43.80 per share, for a total transaction of $87,600.00. Following the acquisition, the director now owns 11,666 shares in the company, valued at $510,970.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director J Niles Mcneel sold 12,990 shares of the stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $40.85, for a total value of $530,641.50. Following the completion of the sale, the director now owns 24,431 shares of the company’s stock, valued at $998,006.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,679 shares of company stock valued at $1,362,610. 3.86% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in RNST. Wells Fargo & Company MN increased its holdings in Renasant by 36.5% in the 3rd quarter. Wells Fargo & Company MN now owns 1,423,017 shares of the financial services provider’s stock valued at $61,048,000 after purchasing an additional 380,801 shares in the last quarter. BlackRock Inc. increased its holdings in Renasant by 5.7% in the 4th quarter. BlackRock Inc. now owns 3,025,099 shares of the financial services provider’s stock valued at $123,696,000 after purchasing an additional 162,700 shares in the last quarter. Jennison Associates LLC increased its holdings in Renasant by 25.6% in the 4th quarter. Jennison Associates LLC now owns 675,109 shares of the financial services provider’s stock valued at $27,605,000 after purchasing an additional 137,791 shares in the last quarter. Vanguard Group Inc. increased its holdings in Renasant by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 3,505,554 shares of the financial services provider’s stock valued at $153,333,000 after purchasing an additional 95,523 shares in the last quarter. Finally, Chartwell Investment Partners LLC increased its holdings in Renasant by 35.5% in the 3rd quarter. Chartwell Investment Partners LLC now owns 361,800 shares of the financial services provider’s stock valued at $15,521,000 after purchasing an additional 94,739 shares in the last quarter. Hedge funds and other institutional investors own 65.39% of the company’s stock.
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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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