Michael D. Shmerling Purchases 1,000 Shares of Renasant Corporation (RNST) Stock

Renasant Corporation (NASDAQ:RNST) Director Michael D. Shmerling acquired 1,000 shares of Renasant Corporation stock in a transaction on Friday, November 10th. The stock was purchased at an average cost of $39.40 per share, with a total value of $39,400.00. Following the completion of the transaction, the director now directly owns 157,347 shares in the company, valued at approximately $6,199,471.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Shares of Renasant Corporation (NASDAQ RNST) traded up $0.16 during mid-day trading on Wednesday, reaching $40.82. 151,400 shares of the company’s stock were exchanged, compared to its average volume of 188,304. Renasant Corporation has a twelve month low of $37.66 and a twelve month high of $45.31. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 0.14. The company has a market cap of $2,005.36, a P/E ratio of 17.16 and a beta of 1.00.

Renasant Corporation (NASDAQ:RNST) last released its earnings results on Tuesday, October 17th. The financial services provider reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.08). The company had revenue of $123.43 million during the quarter, compared to analysts’ expectations of $127.07 million. Renasant Corporation had a net margin of 20.44% and a return on equity of 8.15%. During the same quarter in the previous year, the firm earned $0.59 earnings per share. research analysts predict that Renasant Corporation will post 2.33 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This news story was published by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this news story on another website, it was illegally copied and republished in violation of U.S. & international copyright & trademark laws. The original version of this news story can be read at https://stocknewstimes.com/2017/11/15/michael-d-shmerling-purchases-1000-shares-of-renasant-corporation-rnst-stock-2.html.

A number of equities research analysts have issued reports on RNST shares. Zacks Investment Research downgraded shares of Renasant Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, October 21st. ValuEngine downgraded shares of Renasant Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $43.00 price objective on shares of Renasant Corporation in a research report on Friday, September 29th. Finally, BidaskClub downgraded shares of Renasant Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $44.00.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC purchased a new position in Renasant Corporation in the third quarter valued at about $217,000. Dimensional Fund Advisors LP boosted its stake in Renasant Corporation by 2.8% in the third quarter. Dimensional Fund Advisors LP now owns 3,017,641 shares of the financial services provider’s stock valued at $129,456,000 after acquiring an additional 82,379 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Renasant Corporation by 5.5% in the third quarter. Schwab Charles Investment Management Inc. now owns 192,407 shares of the financial services provider’s stock valued at $8,255,000 after acquiring an additional 10,115 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Renasant Corporation by 36.5% in the third quarter. Wells Fargo & Company MN now owns 1,423,017 shares of the financial services provider’s stock valued at $61,048,000 after acquiring an additional 380,801 shares during the last quarter. Finally, Citadel Advisors LLC boosted its stake in Renasant Corporation by 79.8% in the third quarter. Citadel Advisors LLC now owns 53,324 shares of the financial services provider’s stock valued at $2,288,000 after acquiring an additional 23,662 shares during the last quarter. Hedge funds and other institutional investors own 61.96% of the company’s stock.

Renasant Corporation Company Profile

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.

Insider Buying and Selling by Quarter for Renasant Corporation (NASDAQ:RNST)

Receive News & Ratings for Renasant Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Renasant Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply