Renasant Co. $RNST Position Raised by New York State Common Retirement Fund

New York State Common Retirement Fund lifted its position in shares of Renasant Co. (NASDAQ:RNST) by 113.1% in the 3rd quarter, Holdings Channel reports. The fund owned 733,356 shares of the financial services provider’s stock after buying an additional 389,155 shares during the period. New York State Common Retirement Fund’s holdings in Renasant were worth $27,054,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Resolute Wealth Strategies LLC lifted its position in Renasant by 0.4% in the 2nd quarter. Resolute Wealth Strategies LLC now owns 77,499 shares of the financial services provider’s stock valued at $2,785,000 after purchasing an additional 318 shares during the last quarter. GAMMA Investing LLC grew its position in Renasant by 49.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,489 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 493 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Renasant by 2.4% in the third quarter. Oregon Public Employees Retirement Fund now owns 21,401 shares of the financial services provider’s stock valued at $789,000 after purchasing an additional 500 shares during the period. Louisiana State Employees Retirement System raised its holdings in shares of Renasant by 1.4% during the third quarter. Louisiana State Employees Retirement System now owns 43,700 shares of the financial services provider’s stock valued at $1,612,000 after buying an additional 600 shares during the last quarter. Finally, Inspire Investing LLC raised its holdings in shares of Renasant by 6.2% during the second quarter. Inspire Investing LLC now owns 10,808 shares of the financial services provider’s stock valued at $388,000 after buying an additional 629 shares during the last quarter. Institutional investors and hedge funds own 77.31% of the company’s stock.

Analysts Set New Price Targets

RNST has been the subject of a number of recent analyst reports. TD Cowen reissued a “buy” rating on shares of Renasant in a report on Thursday. Hovde Group boosted their price target on Renasant from $41.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $43.00.

Renasant Trading Down 0.8%

Renasant stock opened at $37.73 on Friday. Renasant Co. has a 12-month low of $26.97 and a 12-month high of $40.40. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94. The stock has a market capitalization of $3.59 billion, a PE ratio of 11.54 and a beta of 0.97. The firm has a 50 day simple moving average of $36.43 and a 200-day simple moving average of $36.54.

Renasant (NASDAQ:RNST) last announced its earnings results on Tuesday, January 27th. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.80 by $0.11. The firm 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 in the previous year, the company earned $0.73 earnings per share. As a group, equities research analysts expect that Renasant Co. will post 2.68 EPS 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.