Brandywine Global Investment Management LLC raised its holdings in Renasant Corp. (NASDAQ:RNST) by 23.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 155,049 shares of the financial services provider’s stock after purchasing an additional 29,090 shares during the period. Brandywine Global Investment Management LLC owned about 0.31% of Renasant worth $6,340,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of RNST. BancorpSouth Bank purchased a new position in shares of Renasant in the fourth quarter valued at approximately $2,121,000. Schwab Charles Investment Management Inc. lifted its position in shares of Renasant by 5.5% in the third quarter. Schwab Charles Investment Management Inc. now owns 192,407 shares of the financial services provider’s stock valued at $8,255,000 after acquiring an additional 10,115 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Renasant by 2.5% in the third quarter. Bank of New York Mellon Corp now owns 304,512 shares of the financial services provider’s stock valued at $13,063,000 after acquiring an additional 7,373 shares in the last quarter. Swiss National Bank lifted its position in shares of Renasant by 14.4% in the fourth quarter. Swiss National Bank now owns 84,000 shares of the financial services provider’s stock valued at $3,435,000 after acquiring an additional 10,600 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Renasant by 13.0% in the fourth quarter. Wells Fargo & Company MN now owns 1,607,332 shares of the financial services provider’s stock valued at $65,723,000 after acquiring an additional 184,315 shares in the last quarter. 65.60% of the stock is currently owned by institutional investors.
In related news, Director Fred F. Sharpe acquired 2,000 shares of Renasant stock in a transaction that occurred on Friday, January 19th. The shares were purchased at an average price of $43.80 per share, for a total transaction of $87,600.00. Following the completion of the transaction, the director now owns 11,666 shares in the company, valued at approximately $510,970.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J Niles Mcneel sold 8,948 shares of Renasant stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $44.36, for a total value of $396,933.28. Following the transaction, the director now owns 14,831 shares in the company, valued at approximately $657,903.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,948 shares of company stock worth $1,048,833. 3.86% of the stock is currently owned by company insiders.
Several equities analysts have recently weighed in on RNST shares. Hilliard Lyons upgraded Renasant from a “neutral” rating to a “buy” rating in a research report on Friday, February 9th. Zacks Investment Research upgraded Renasant from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Wednesday, January 10th. ValuEngine upgraded Renasant from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. BidaskClub upgraded Renasant from a “hold” rating to a “buy” rating in a research report on Friday, March 9th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $45.00 target price on shares of Renasant in a research report on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $45.60.
Renasant Corp. (NASDAQ:RNST) opened at $44.61 on Friday. Renasant Corp. has a 1 year low of $37.68 and a 1 year high of $45.31. The company has a market capitalization of $2,188.53, a P/E ratio of 22.64 and a beta of 1.03. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.98 and a current ratio of 0.99.
Renasant (NASDAQ:RNST) last announced its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.03. Renasant had a return on equity of 8.19% and a net margin of 18.19%. The firm had revenue of $125.70 million for the quarter, compared to the consensus estimate of $124.55 million. analysts forecast that Renasant Corp. will post 3.01 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, March 15th. This represents a $0.76 dividend on an annualized basis and a yield of 1.70%. Renasant’s payout ratio is 38.58%.
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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