Renasant (NASDAQ:RNST) Given New $35.00 Price Target at Truist Financial

Renasant (NASDAQ:RNSTGet Rating) had its price objective increased by Truist Financial from $31.00 to $35.00 in a research report released on Monday morning, The Fly reports. They currently have a hold rating on the financial services provider’s stock.

A number of other brokerages have also recently weighed in on RNST. Piper Sandler cut their price objective on shares of Renasant to $32.50 in a research note on Monday, July 4th. Hovde Group upgraded shares of Renasant from a market perform rating to an outperform rating and set a $34.00 price target on the stock in a research report on Tuesday, June 21st.

Renasant Price Performance

Shares of NASDAQ RNST opened at $33.23 on Monday. Renasant has a fifty-two week low of $27.61 and a fifty-two week high of $40.79. The firm’s 50-day simple moving average is $30.04 and its 200 day simple moving average is $32.69. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 0.20. The stock has a market cap of $1.85 billion, a P/E ratio of 12.40 and a beta of 1.13.

Institutional Investors Weigh In On Renasant

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Renasant by 2.5% in the first quarter. Vanguard Group Inc. now owns 6,153,599 shares of the financial services provider’s stock worth $205,838,000 after acquiring an additional 149,653 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Renasant by 1.1% during the 4th quarter. Victory Capital Management Inc. now owns 4,207,280 shares of the financial services provider’s stock worth $159,666,000 after buying an additional 45,008 shares during the period. Dimensional Fund Advisors LP raised its holdings in Renasant by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,746,208 shares of the financial services provider’s stock worth $125,313,000 after buying an additional 47,334 shares during the period. State Street Corp raised its holdings in Renasant by 10.8% during the 1st quarter. State Street Corp now owns 2,908,644 shares of the financial services provider’s stock worth $97,294,000 after buying an additional 282,738 shares during the period. Finally, Westwood Holdings Group Inc. raised its holdings in Renasant by 1.5% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,792,917 shares of the financial services provider’s stock worth $59,973,000 after buying an additional 26,806 shares during the period. 78.65% of the stock is currently owned by institutional investors.

Renasant Company Profile

(Get Rating)

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.

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