Yousif Capital Management LLC Has $1.23 Million Stock Holdings in Renasant Co. $RNST

Yousif Capital Management LLC lifted its stake in Renasant Co. (NASDAQ:RNST) by 47.0% during the second quarter, HoldingsChannel reports. The fund owned 34,295 shares of the financial services provider’s stock after purchasing an additional 10,970 shares during the quarter. Yousif Capital Management LLC’s holdings in Renasant were worth $1,232,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of RNST. Vanguard Group Inc. increased its stake in shares of Renasant by 22.0% in the first quarter. Vanguard Group Inc. now owns 8,789,556 shares of the financial services provider’s stock worth $298,230,000 after acquiring an additional 1,582,105 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Renasant by 232.8% in the first quarter. Wellington Management Group LLP now owns 1,590,935 shares of the financial services provider’s stock worth $53,980,000 after acquiring an additional 1,112,946 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Renasant by 33.5% in the first quarter. Jennison Associates LLC now owns 1,567,120 shares of the financial services provider’s stock worth $53,172,000 after acquiring an additional 393,319 shares during the last quarter. Westwood Holdings Group Inc. boosted its holdings in Renasant by 20.6% in the first quarter. Westwood Holdings Group Inc. now owns 2,121,838 shares of the financial services provider’s stock worth $71,994,000 after purchasing an additional 362,835 shares in the last quarter. Finally, Nuveen LLC bought a new stake in Renasant in the first quarter worth $11,878,000. 77.31% of the stock is owned by institutional investors and hedge funds.

Renasant Stock Up 2.4%

RNST stock opened at $34.92 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94. Renasant Co. has a 52-week low of $26.97 and a 52-week high of $40.40. The company has a 50-day moving average of $37.57 and a two-hundred day moving average of $35.63. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 10.68 and a beta of 0.89.

Renasant Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Tuesday, September 16th. Renasant’s dividend payout ratio is 34.65%.

Analyst Ratings Changes

A number of brokerages recently issued reports on RNST. Raymond James Financial reiterated a “strong-buy” rating on shares of Renasant in a report on Wednesday, July 23rd. Cowen began coverage on shares of Renasant in a report on Wednesday, September 24th. They issued a “buy” rating for the company. Hovde Group upped their price objective on shares of Renasant from $35.00 to $39.00 and gave the stock a “market perform” rating in a report on Wednesday, July 23rd. Finally, TD Cowen began coverage on shares of Renasant in a report on Thursday, September 25th. They issued a “buy” rating and a $45.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $43.00.

Renasant Company Profile

Renasant Corporation operates as a bank holding company for Renasant Bank that provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. The company operates through Community Banks, Insurance, and Wealth Management segments. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and factoring equipment leasing services, as well as safe deposit and night depository facilities.