Jennison Associates LLC boosted its stake in shares of Renasant Corporation (NASDAQ:RNST) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 545,398 shares of the financial services provider’s stock after buying an additional 4,816 shares during the period. Jennison Associates LLC owned 1.23% of Renasant Corporation worth $23,856,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in RNST. Ameritas Investment Partners Inc. purchased a new stake in shares of Renasant Corporation during the first quarter valued at $140,000. New York State Teachers Retirement System increased its stake in shares of Renasant Corporation by 5.6% in the first quarter. New York State Teachers Retirement System now owns 3,800 shares of the financial services provider’s stock valued at $151,000 after buying an additional 200 shares during the period. Amalgamated Bank increased its stake in shares of Renasant Corporation by 4.2% in the first quarter. Amalgamated Bank now owns 5,350 shares of the financial services provider’s stock valued at $212,000 after buying an additional 214 shares during the period. Trust Co. of Toledo NA OH bought a new stake in Renasant Corporation during the second quarter valued at approximately $214,000. Finally, Smith Shellnut Wilson LLC ADV increased its stake in Renasant Corporation by 4.7% in the second quarter. Smith Shellnut Wilson LLC ADV now owns 6,870 shares of the financial services provider’s stock valued at $222,000 after buying an additional 309 shares during the last quarter. Institutional investors own 66.33% of the company’s stock.
Renasant Corporation (NASDAQ:RNST) opened at 39.77 on Friday. The stock has a market cap of $1.96 billion, a PE ratio of 17.94 and a beta of 1.04. The firm has a 50-day moving average of $41.60 and a 200-day moving average of $41.51. Renasant Corporation has a 12-month low of $32.51 and a 12-month high of $45.31.
Renasant Corporation (NASDAQ:RNST) last posted its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.04. The business had revenue of $113.87 million during the quarter, compared to the consensus estimate of $112.43 million. Renasant Corporation had a net margin of 20.31% and a return on equity of 8.31%. During the same quarter in the prior year, the company posted $0.59 earnings per share. Equities analysts predict that Renasant Corporation will post $2.35 earnings per share for the current fiscal year.
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Several equities research analysts have recently commented on RNST shares. Jefferies Group LLC reiterated a “hold” rating and set a $44.00 price objective on shares of Renasant Corporation in a research note on Friday, July 14th. BidaskClub downgraded shares of Renasant Corporation from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Zacks Investment Research downgraded shares of Renasant Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. ValuEngine upgraded shares of Renasant Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Finally, Keefe, Bruyette & Woods set a $43.00 price objective on shares of Renasant Corporation and gave the stock a “hold” rating in a research note on Saturday, May 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Renasant Corporation has an average rating of “Hold” and a consensus target price of $43.50.
In other Renasant Corporation news, Director Albert J. Dale III sold 15,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $42.54, for a total transaction of $638,100.00. Following the sale, the director now owns 25,620 shares in the company, valued at approximately $1,089,874.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP James W. Gray sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $39.94, for a total value of $199,700.00. Following the sale, the executive vice president now owns 43,604 shares in the company, valued at approximately $1,741,543.76. The disclosure for this sale can be found here. Over the last three months, insiders acquired 9,023 shares of company stock valued at $375,621 and sold 25,000 shares valued at $1,052,800. 3.86% of the stock is currently owned by corporate insiders.
About Renasant Corporation
Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance). The Company’s segments include Community Banks, which delivers a range of banking and financial services to individuals and small to medium-sized businesses, including checking and savings accounts, business and personal loans, equipment leasing, as well as safe deposit and night depository facilities; Insurance, which includes a full service insurance agency offering all lines of commercial and personal insurance through major carriers; Wealth Management, which offers a range of fiduciary services that includes the administration and management of trust accounts, including personal and corporate benefit accounts, and custodial accounts, and Other.
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