Peregrine Capital Management LLC Purchases 3,207 Shares of Renasant Corp. (NASDAQ:RNST)

Peregrine Capital Management LLC boosted its position in Renasant Corp. (NASDAQ:RNST) by 1.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 225,890 shares of the financial services provider’s stock after acquiring an additional 3,207 shares during the period. Peregrine Capital Management LLC owned 0.40% of Renasant worth $5,625,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in Renasant by 31.1% in the 1st quarter. JPMorgan Chase & Co. now owns 65,171 shares of the financial services provider’s stock worth $1,423,000 after acquiring an additional 15,477 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Renasant by 5,495.8% in the 1st quarter. Victory Capital Management Inc. now owns 998,910 shares of the financial services provider’s stock worth $21,816,000 after purchasing an additional 981,059 shares during the period. BNP Paribas Arbitrage SA lifted its position in shares of Renasant by 140.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 18,592 shares of the financial services provider’s stock worth $406,000 after purchasing an additional 10,863 shares during the period. UBS Group AG lifted its position in shares of Renasant by 10.7% in the 4th quarter. UBS Group AG now owns 65,584 shares of the financial services provider’s stock worth $2,323,000 after purchasing an additional 6,332 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Renasant by 8.9% in the 1st quarter. Geode Capital Management LLC now owns 839,153 shares of the financial services provider’s stock worth $18,327,000 after purchasing an additional 68,592 shares during the period. 66.58% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ RNST opened at $23.23 on Friday. Renasant Corp. has a 1 year low of $18.22 and a 1 year high of $36.84. The stock has a market cap of $1.30 billion, a P/E ratio of 13.58 and a beta of 1.35. The firm has a 50-day moving average of $23.48 and a 200 day moving average of $25.91. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.96 and a quick ratio of 0.92.

Renasant (NASDAQ:RNST) last issued its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.06. Renasant had a net margin of 14.07% and a return on equity of 5.60%. The company had revenue of $169.95 million during the quarter, compared to analysts’ expectations of $147.73 million. During the same period last year, the company posted $0.82 EPS. Research analysts expect that Renasant Corp. will post 1.59 earnings per share for the current fiscal year.

Several equities research analysts have recently commented on RNST shares. Zacks Investment Research raised shares of Renasant from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 1st. ValuEngine raised shares of Renasant from a “sell” rating to a “hold” rating in a research report on Friday, May 1st. BidaskClub cut shares of Renasant from a “sell” rating to a “strong sell” rating in a research report on Friday, May 8th. Finally, SunTrust Banks dropped their target price on shares of Renasant from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Renasant presently has an average rating of “Hold” and an average price target of $35.25.

In other news, Director Richard Heyer bought 2,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was acquired at an average cost of $24.58 per share, with a total value of $49,160.00. Following the completion of the acquisition, the director now owns 28,287 shares of the company’s stock, valued at $695,294.46. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director R Rick Hart sold 4,058 shares of Renasant stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $24.21, for a total transaction of $98,244.18. Following the completion of the transaction, the director now directly owns 68,712 shares of the company’s stock, valued at $1,663,517.52. The disclosure for this sale can be found here. Company insiders own 3.99% of the company’s stock.

About Renasant

Renasant Corporation operates as a bank holding company for Renasant Bank, which provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings, money market, individual retirement, and health savings accounts, 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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