Renasant (NASDAQ:RNST) EVP Sells $227,280.00 in Stock

Renasant Co. (NASDAQ:RNST) EVP Mark Jeanfreau sold 6,000 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $37.88, for a total value of $227,280.00. Following the transaction, the executive vice president owned 65,172 shares in the company, valued at approximately $2,468,715.36. This trade represents a 8.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Renasant Price Performance

NASDAQ RNST traded up $0.27 during midday trading on Tuesday, hitting $38.09. The company had a trading volume of 397,872 shares, compared to its average volume of 667,187. The firm has a 50-day moving average price of $36.49 and a 200-day moving average price of $36.52. The company has a market capitalization of $3.62 billion, a PE ratio of 11.67 and a beta of 0.97. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. Renasant Co. has a twelve month low of $26.97 and a twelve month high of $40.40.

Renasant (NASDAQ:RNST) last issued its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. The company had revenue of $216.11 million for the quarter, compared to analysts’ expectations of $275.40 million. Renasant had a return on equity of 6.58% and a net margin of 17.91%.During the same quarter last year, the business earned $0.73 earnings per share. As a group, analysts anticipate that Renasant Co. will post 2.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Renasant

Several large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its position in shares of Renasant by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,413,327 shares of the financial services provider’s stock worth $199,697,000 after buying an additional 23,337 shares during the period. State Street Corp increased its holdings in shares of Renasant by 14.1% during the second quarter. State Street Corp now owns 4,812,696 shares of the financial services provider’s stock valued at $172,920,000 after acquiring an additional 595,609 shares in the last quarter. Wellington Management Group LLP raised its holdings in Renasant by 15.3% during the third quarter. Wellington Management Group LLP now owns 2,962,781 shares of the financial services provider’s stock worth $109,297,000 after buying an additional 394,249 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Renasant by 0.6% in the 3rd quarter. Invesco Ltd. now owns 2,229,966 shares of the financial services provider’s stock worth $82,263,000 after acquiring an additional 14,301 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Renasant by 48.0% in the second quarter. Geode Capital Management LLC now owns 2,203,182 shares of the financial services provider’s stock worth $79,169,000 after purchasing an additional 714,972 shares during the last quarter. Institutional investors and hedge funds own 77.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on RNST shares. TD Cowen reiterated a “buy” rating on shares of Renasant in a report on Thursday. Hovde Group boosted their target price on shares of Renasant from $41.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat, Renasant currently has an average rating of “Buy” and an average target price of $43.00.

About Renasant

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.