Renasant (NYSE:RNST) Director Albert Dale III Sells 1,650 Shares

Renasant Corp (NYSE:RNST) Director Albert Dale III sold 1,650 shares of Renasant stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $39.80, for a total transaction of $65,670.00. Following the completion of the transaction, the director owned 40,075 shares of the company’s stock, valued at $1,594,985. This represents a 3.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Renasant Trading Up 0.2%

Shares of NYSE:RNST opened at $41.20 on Friday. Renasant Corp has a 52 week low of $33.04 and a 52 week high of $42.11. The company’s 50 day moving average is $38.29 and its two-hundred day moving average is $37.43. The company has a market cap of $3.80 billion, a PE ratio of 17.09 and a beta of 0.97. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.13.

Renasant (NYSE:RNST) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.09. Renasant had a net margin of 14.47% and a return on equity of 8.17%. The business had revenue of $278.49 million during the quarter, compared to analysts’ expectations of $275.71 million. During the same period in the previous year, the company earned $0.65 EPS. Equities analysts predict that Renasant Corp will post 3.73 earnings per share for the current fiscal year.

Renasant Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, June 16th. This is an increase from Renasant’s previous quarterly dividend of $0.23. Renasant’s dividend payout ratio (DPR) is currently 38.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on RNST shares. Weiss Ratings upgraded Renasant from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, March 10th. TD Cowen reissued a “buy” rating on shares of Renasant in a report on Thursday, April 30th. Wall Street Zen upgraded shares of Renasant from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. Finally, Hovde Group upped their target price on shares of Renasant from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $45.50.

Institutional Investors Weigh In On Renasant

Several hedge funds have recently made changes to their positions in RNST. Maryland State Retirement & Pension System lifted its position in Renasant by 2.0% during the 4th quarter. Maryland State Retirement & Pension System now owns 13,939 shares of the company’s stock worth $491,000 after acquiring an additional 279 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in shares of Renasant by 1.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,701 shares of the company’s stock worth $764,000 after purchasing an additional 300 shares during the period. Jones Financial Companies Lllp grew its position in Renasant by 12.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,825 shares of the company’s stock valued at $106,000 after buying an additional 306 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Renasant by 27.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,464 shares of the company’s stock valued at $52,000 after buying an additional 312 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Renasant by 68.7% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 857 shares of the company’s stock valued at $32,000 after buying an additional 349 shares during the period. Institutional investors and hedge funds own 77.31% of the company’s stock.

Renasant Company Profile

Renasant Corporation operates as a bank holding company for Renasant Bank that provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and equipment leasing services, as well as safe deposit and night depository facilities. It also provides commercial, financial, and agricultural loans; equipment financing and leasing; real estate–1-4 family mortgage; real estate–commercial mortgage; real estate–construction loans for the construction of single family residential properties, multi-family properties, and commercial projects; installment loans to individuals; and interim construction loans, as well as automated teller machine (ATM), online and mobile banking, call center, and treasury management services.