Universal Beteiligungs und Servicegesellschaft mbH Acquires 25,372 Shares of Renasant Co. $RNST

Universal Beteiligungs und Servicegesellschaft mbH grew its stake in Renasant Co. (NASDAQ:RNST) by 28.6% in the 3rd quarter, Holdings Channel reports. The firm owned 113,947 shares of the financial services provider’s stock after purchasing an additional 25,372 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Renasant were worth $4,204,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Royal Bank of Canada grew its position in shares of Renasant by 128.5% in the 1st quarter. Royal Bank of Canada now owns 52,238 shares of the financial services provider’s stock worth $1,772,000 after buying an additional 29,380 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Renasant by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,167 shares of the financial services provider’s stock worth $1,261,000 after acquiring an additional 1,621 shares in the last quarter. Jones Financial Companies Lllp bought a new position in shares of Renasant during the first quarter valued at approximately $67,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Renasant by 13.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 189,105 shares of the financial services provider’s stock valued at $6,416,000 after purchasing an additional 23,072 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Renasant during the first quarter valued at approximately $390,000. Institutional investors own 77.31% of the company’s stock.

Wall Street Analysts Forecast Growth

RNST has been the topic of several recent analyst reports. TD Cowen reissued a “buy” rating on shares of Renasant in a research report on Wednesday, January 7th. Hovde Group upgraded shares of Renasant from a “market perform” rating to an “outperform” rating and increased their price target for the company from $40.00 to $41.00 in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $43.33.

Renasant Stock Performance

Shares of NASDAQ RNST opened at $37.20 on Wednesday. The stock has a market cap of $3.53 billion, a PE ratio of 11.38 and a beta of 0.97. Renasant Co. has a 1 year low of $26.97 and a 1 year high of $40.40. The firm has a fifty day moving average price of $36.18 and a 200-day moving average price of $36.54. 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 (NASDAQ:RNST) last released its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.02). Renasant had a return on equity of 6.58% and a net margin of 17.91%.The business had revenue of $269.55 million during the quarter, compared to the consensus estimate of $271.96 million. During the same period last year, the company earned $1.18 EPS. Equities analysts anticipate that Renasant Co. will post 2.68 earnings per share for the current fiscal year.

Renasant Profile

Renasant Corporation is a financial holding company providing banking and related services through its primary subsidiary, Renasant Bank. With origins dating back to 1904 in Tupelo, Mississippi, the company offers a comprehensive suite of commercial and consumer banking products, including deposit accounts, lending and treasury management services. Renasant serves individuals, small businesses and corporate clients across the southeastern United States.

The company operates more than 110 banking offices across Mississippi, Alabama, Tennessee, Florida and Georgia, supplemented by a network of ATMs and digital platforms.