Dean Investment Associates LLC Has $4,978,000 Position in Renasant Corporation (RNST)
Dean Investment Associates LLC held its position in shares of Renasant Corporation (NASDAQ:RNST) during the second quarter, according to the company in its most recent filing with the SEC. The firm owned 125,415 shares of the financial services provider’s stock at the close of the second quarter. Dean Investment Associates LLC owned about 0.28% of Renasant Corporation worth $4,978,000 as of its most recent filing with the SEC.
Several other large investors have also bought and sold shares of RNST. Ameritas Investment Partners Inc. acquired a new position in shares of Renasant Corporation during the 1st quarter valued at $140,000. New York State Teachers Retirement System lifted its holdings in shares of Renasant Corporation by 5.6% during the 1st quarter. New York State Teachers Retirement System now owns 3,800 shares of the financial services provider’s stock valued at $151,000 after acquiring an additional 200 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Renasant Corporation by 4.2% during the 1st quarter. Amalgamated Bank now owns 5,350 shares of the financial services provider’s stock valued at $212,000 after acquiring an additional 214 shares in the last quarter. Trust Co. of Toledo NA OH acquired a new position in shares of Renasant Corporation during the 2nd quarter valued at $214,000. Finally, Smith Shellnut Wilson LLC ADV lifted its holdings in shares of Renasant Corporation by 4.7% during the 2nd quarter. Smith Shellnut Wilson LLC ADV now owns 6,870 shares of the financial services provider’s stock valued at $222,000 after acquiring an additional 309 shares in the last quarter. Institutional investors and hedge funds own 62.10% of the company’s stock.
Renasant Corporation (NASDAQ:RNST) traded up 0.15% during trading on Wednesday, hitting $39.82. 25,199 shares of the company traded hands. Renasant Corporation has a one year low of $32.51 and a one year high of $45.32. The firm has a 50 day moving average of $40.54 and a 200 day moving average of $41.42. The firm has a market cap of $1.96 billion, a P/E ratio of 17.96 and a beta of 1.06.
Renasant Corporation (NASDAQ:RNST) last announced its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.04. Renasant Corporation had a net margin of 20.31% and a return on equity of 8.31%. The company had revenue of $113.87 million for the quarter, compared to analyst estimates of $112.43 million. During the same quarter in the prior year, the business posted $0.59 EPS. On average, analysts expect that Renasant Corporation will post $2.35 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.72 annualized dividend and a dividend yield of 1.81%. Renasant Corporation’s dividend payout ratio (DPR) is 32.58%.
Several research firms recently weighed in on RNST. Jefferies Group LLC restated a “hold” rating and set a $44.00 target price on shares of Renasant Corporation in a report on Friday, June 9th. Zacks Investment Research upgraded shares of Renasant Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 16th. BidaskClub lowered shares of Renasant Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Keefe, Bruyette & Woods set a $43.00 target price on shares of Renasant Corporation and gave the company a “hold” rating in a report on Saturday, May 27th. Finally, ValuEngine upgraded shares of Renasant Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Renasant Corporation presently has a consensus rating of “Hold” and a consensus target price of $45.33.
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In other Renasant Corporation news, Director Fred F. Sharpe purchased 4,000 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were bought at an average price of $42.36 per share, for a total transaction of $169,440.00. Following the purchase, the director now directly owns 9,666 shares in the company, valued at approximately $409,451.76. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Fred F. Sharpe purchased 2,000 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were acquired at an average price of $42.33 per share, for a total transaction of $84,660.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 9,023 shares of company stock worth $375,621. 3.86% of the stock is currently owned by company insiders.
Renasant Corporation Profile
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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