Bailard Inc. Buys Shares of 6,100 Renasant Co. (NASDAQ:RNST)

Bailard Inc. purchased a new position in Renasant Co. (NASDAQ:RNST) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,100 shares of the financial services provider’s stock, valued at approximately $205,000.

Several other hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC purchased a new stake in Renasant in the 4th quarter worth approximately $25,000. Covestor Ltd boosted its stake in Renasant by 26.6% during the third quarter. Covestor Ltd now owns 2,204 shares of the financial services provider’s stock valued at $58,000 after buying an additional 463 shares during the period. Criterion Capital Advisors LLC bought a new stake in Renasant during the fourth quarter valued at $113,000. Brookstone Capital Management purchased a new position in Renasant during the fourth quarter worth about $211,000. Finally, Watershed Asset Management L.L.C. increased its stake in Renasant by 8.2% in the 3rd quarter. Watershed Asset Management L.L.C. now owns 8,957 shares of the financial services provider’s stock worth $235,000 after acquiring an additional 680 shares during the last quarter. 77.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RNST shares. Keefe, Bruyette & Woods lifted their price target on Renasant from $34.00 to $35.00 and gave the company a “market perform” rating in a research report on Tuesday, January 30th. StockNews.com raised shares of Renasant from a “sell” rating to a “hold” rating in a research note on Saturday. Stephens increased their price target on shares of Renasant from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. Finally, Truist Financial dropped their price objective on shares of Renasant from $35.00 to $33.00 and set a “hold” rating for the company in a report on Monday, April 1st. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, Renasant has a consensus rating of “Hold” and a consensus target price of $33.00.

Renasant Trading Down 1.3 %

Shares of RNST opened at $29.47 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.93. Renasant Co. has a fifty-two week low of $22.99 and a fifty-two week high of $34.85. The firm has a 50 day moving average price of $30.21 and a 200-day moving average price of $29.98. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 9.98 and a beta of 1.03.

Renasant (NASDAQ:RNST) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.02. The business had revenue of $254.56 million during the quarter, compared to analyst estimates of $159.60 million. Renasant had a net margin of 14.67% and a return on equity of 7.44%. During the same period in the prior year, the business posted $0.82 earnings per share. As a group, equities research analysts forecast that Renasant Co. will post 2.62 earnings per share for the current year.

Renasant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.88 dividend on an annualized basis and a yield of 2.99%. Renasant’s dividend payout ratio (DPR) is currently 35.77%.

Renasant 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. The company operates through Community Banks, Insurance, and Wealth Management segments. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and factoring equipment leasing services, as well as safe deposit and night depository facilities.