Rafferty Asset Management LLC Acquires 17,611 Shares of Renasant Co. (NASDAQ:RNST)

Rafferty Asset Management LLC grew its holdings in shares of Renasant Co. (NASDAQ:RNSTFree Report) by 51.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,572 shares of the financial services provider’s stock after buying an additional 17,611 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.09% of Renasant worth $1,737,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Barclays PLC increased its holdings in shares of Renasant by 4.6% during the third quarter. Barclays PLC now owns 72,837 shares of the financial services provider’s stock worth $1,908,000 after purchasing an additional 3,223 shares during the period. Swiss National Bank lifted its holdings in shares of Renasant by 1.1% during the third quarter. Swiss National Bank now owns 123,300 shares of the financial services provider’s stock worth $3,229,000 after purchasing an additional 1,400 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Renasant by 5.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 705,357 shares of the financial services provider’s stock valued at $18,473,000 after buying an additional 34,129 shares during the period. Deutsche Bank AG lifted its holdings in Renasant by 13.9% in the third quarter. Deutsche Bank AG now owns 27,167 shares of the financial services provider’s stock valued at $712,000 after buying an additional 3,317 shares during the period. Finally, Covestor Ltd increased its stake in Renasant by 26.6% in the third quarter. Covestor Ltd now owns 2,204 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 463 shares in the last quarter. 77.31% of the stock is owned by institutional investors.

Renasant Stock Performance

Shares of RNST stock opened at $28.49 on Tuesday. The stock has a market capitalization of $1.61 billion, a P/E ratio of 11.58 and a beta of 1.04. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.18. The firm’s 50 day moving average is $29.91 and its 200 day moving average is $30.86. Renasant Co. has a 12 month low of $22.99 and a 12 month high of $34.85.

Renasant (NASDAQ:RNSTGet Free Report) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. The business had revenue of $254.56 million for 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 quarter in the prior year, the firm posted $0.82 EPS. On average, sell-side analysts anticipate 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. Stockholders of record on Friday, June 14th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Friday, June 14th. Renasant’s payout ratio is 35.77%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RNST. StockNews.com raised shares of Renasant from a “sell” rating to a “hold” rating in a research report on Saturday, April 27th. Truist Financial dropped their target price on shares of Renasant from $35.00 to $33.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $33.00.

Read Our Latest Stock Report on RNST

Renasant Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Renasant (NASDAQ:RNST)

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