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.
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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.
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