Inspire Investing LLC Has $400,000 Stock Position in Renasant Co. (NASDAQ:RNST)

Inspire Investing LLC reduced its stake in Renasant Co. (NASDAQ:RNST) by 11.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 11,184 shares of the financial services provider’s stock after selling 1,495 shares during the quarter. Inspire Investing LLC’s holdings in Renasant were worth $400,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp grew its position in Renasant by 26.5% during the 3rd quarter. State Street Corp now owns 3,369,915 shares of the financial services provider’s stock worth $109,522,000 after acquiring an additional 705,344 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC purchased a new position in Renasant during the third quarter valued at $15,009,000. Jennison Associates LLC bought a new stake in shares of Renasant in the 3rd quarter worth $12,514,000. Stieven Capital Advisors L.P. purchased a new stake in Renasant during the 3rd quarter valued at $11,981,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Renasant by 21.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,746,924 shares of the financial services provider’s stock valued at $56,775,000 after purchasing an additional 303,945 shares during the period. 77.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director John Creekmore sold 3,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $38.00, for a total transaction of $114,000.00. Following the completion of the sale, the director now owns 24,057 shares of the company’s stock, valued at $914,166. The trade was a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.82% of the stock is currently owned by insiders.

Renasant Price Performance

Shares of NASDAQ RNST opened at $37.39 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.16. Renasant Co. has a 52 week low of $27.98 and a 52 week high of $39.47. The business’s 50 day moving average price is $36.34 and its 200 day moving average price is $34.67. The firm has a market cap of $2.38 billion, a P/E ratio of 12.18 and a beta of 1.03.

Renasant Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Wednesday, December 18th were given a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $0.88 annualized dividend and a yield of 2.35%. Renasant’s dividend payout ratio is presently 28.66%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on RNST shares. Hovde Group cut Renasant from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 13th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $45.00 price target on shares of Renasant in a research report on Tuesday, December 31st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.17.

About Renasant

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.