Renasant Corp. (NASDAQ:RNST) gapped up before the market opened on Friday . The stock had previously closed at $31.60, but opened at $31.94. Renasant Corp. shares last traded at $32.81, with a volume of 43,189 shares traded.

A number of equities research analysts have commented on RNST shares. Sandler O’Neill increased their price objective on shares of Renasant Corp. from $30.00 to $33.00 and gave the stock a “hold” rating in a report on Monday, March 28th. Raymond James Financial Inc. lowered shares of Renasant Corp. from an “outperform” rating to a “market perform” rating in a report on Monday, March 28th. Keefe, Bruyette & Woods increased their price objective on shares of Renasant Corp. from $28.00 to $32.00 and gave the stock a “market perform” rating in a report on Monday, March 28th. Finally, Zacks Investment Research raised shares of Renasant Corp. from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Wednesday, June 29th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $34.25.

The firm has a market capitalization of $1.38 billion and a price-to-earnings ratio of 16.99. The stock’s 50 day moving average is $33.20 and its 200 day moving average is $32.67.

Renasant Corp. (NASDAQ:RNST) last issued its earnings results on Tuesday, April 26th. The financial services provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. During the same period last year, the business earned $0.48 EPS. On average, analysts expect that Renasant Corp. will post $2.26 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.20%. This is a boost from Renasant Corp.’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Monday, June 13th.

In other news, Director J Niles Mcneel sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $33.51, for a total transaction of $83,775.00. Following the transaction, the director now directly owns 38,374 shares of the company’s stock, valued at $1,285,912.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Several institutional investors have recently modified their holdings of the company. Nationwide Fund Advisors raised its position in shares of Renasant Corp. by 1.8% in the fourth quarter. Nationwide Fund Advisors now owns 31,490 shares of the financial services provider’s stock worth $1,084,000 after buying an additional 558 shares during the last quarter. California State Teachers Retirement System raised its position in shares of Renasant Corp. by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 74,451 shares of the financial services provider’s stock worth $2,562,000 after buying an additional 1,200 shares during the last quarter. Rhumbline Advisers raised its position in shares of Renasant Corp. by 4.4% in the fourth quarter. Rhumbline Advisers now owns 52,106 shares of the financial services provider’s stock worth $1,793,000 after buying an additional 2,209 shares during the last quarter. US Bancorp DE raised its position in shares of Renasant Corp. by 11.7% in the fourth quarter. US Bancorp DE now owns 32,338 shares of the financial services provider’s stock worth $1,112,000 after buying an additional 3,388 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Renasant Corp. by 12.9% in the fourth quarter. Victory Capital Management Inc. now owns 30,357 shares of the financial services provider’s stock worth $1,044,000 after buying an additional 3,459 shares during the last quarter.

Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance), a subsidiary of the Bank with operations in Mississippi. The Company operates through three segments: Community Banks segment, Insurance segment and Wealth Management segment.

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