Rosenthal Henry Capital Advisors Inc. bought a new position in Renasant Corp (NYSE:RNST – Free Report) during the third quarter, Holdings Channel.com reports. The institutional investor bought 34,000 shares of the company’s stock, valued at approximately $1,322,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Versant Capital Management Inc grew its position in shares of Renasant by 33.6% in the second quarter. Versant Capital Management Inc now owns 1,276 shares of the company’s stock valued at $54,000 after purchasing an additional 321 shares in the last quarter. Inspire Investing LLC lifted its position in Renasant by 2.2% during the third quarter. Inspire Investing LLC now owns 16,325 shares of the company’s stock worth $635,000 after buying an additional 344 shares in the last quarter. HB Wealth Management LLC lifted its position in Renasant by 3.5% during the second quarter. HB Wealth Management LLC now owns 10,126 shares of the company’s stock worth $431,000 after buying an additional 346 shares in the last quarter. Waverly Advisors LLC boosted its stake in Renasant by 1.2% during the first quarter. Waverly Advisors LLC now owns 39,200 shares of the company’s stock worth $1,416,000 after buying an additional 473 shares during the last quarter. Finally, Resolute Wealth Strategies LLC boosted its stake in Renasant by 0.9% during the first quarter. Resolute Wealth Strategies LLC now owns 72,148 shares of the company’s stock worth $2,607,000 after buying an additional 609 shares during the last quarter. 77.31% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Renasant news, Director Edward Mcgraw sold 35,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $43.88, for a total transaction of $1,535,800.00. Following the completion of the transaction, the director owned 211,458 shares of the company’s stock, valued at $9,278,777.04. This trade represents a 14.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.07% of the stock is owned by insiders.
Renasant Price Performance
RNST stock opened at $40.14 on Thursday. The business has a fifty day moving average of $40.39 and a two-hundred day moving average of $40.15. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.21. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of 12.02 and a beta of 0.97. Renasant Corp has a 52-week low of $33.04 and a 52-week high of $44.54.
Renasant (NYSE:RNST – Get Free Report) last posted its earnings results on Tuesday, October 27th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.08). The business had revenue of $272.96 million during the quarter, compared to analysts’ expectations of $282.34 million. Renasant had a net margin of 19.94% and a return on equity of 8.67%. During the same quarter in the prior year, the firm earned $0.77 EPS. As a group, research analysts anticipate that Renasant Corp will post 3.77 earnings per share for the current year.
Renasant Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were given a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $0.96 dividend on an annualized basis and a yield of 2.4%. Renasant’s dividend payout ratio is presently 26.89%.
More Renasant News
Here are the key news stories impacting Renasant this week:
- Positive Sentiment: Renasant agreed to acquire Commercial Holding Company in a transaction valued at approximately $140 million. The deal would expand Renasant’s West Tennessee franchise with more than $900 million in low-cost, core deposits. Management expects the acquisition to add roughly 4% to earnings per share and close in the first quarter of 2027. Renasant Corporation to Acquire Commercial Holding Company
- Positive Sentiment: The company’s board authorized a $175 million share buyback, while a related tranche update provided further details on the repurchase program. Buybacks can support per-share results and signal confidence in the company’s valuation. Renasant Corporation announces an Equity Buyback
- Neutral Sentiment: Third-quarter earnings increased from $0.77 to $0.86 per share year over year, with reported net margin of 19.94% and return on equity of 8.67%. However, the results were below expectations, limiting the positive impact of the year-over-year improvement. Renasant Reports Third-Quarter Earnings Results
- Negative Sentiment: Renasant reported adjusted EPS of $0.86, missing the consensus estimate of $0.94, while revenue of approximately $272.7 million fell short of the $282.3 million estimate. The simultaneous earnings and revenue misses are the primary reason investors are pressuring RNST shares. Renasant Lags Q3 Earnings and Revenue Estimates
Analyst Ratings Changes
Several analysts have issued reports on RNST shares. Piper Sandler upped their target price on Renasant from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Raymond James Financial cut shares of Renasant from a “strong-buy” rating to an “outperform” rating in a research report on Thursday. Weiss Ratings raised shares of Renasant from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Finally, TD Cowen cut their price objective on shares of Renasant from $49.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Five research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $46.67.
View Our Latest Research Report on Renasant
About Renasant
Renasant Corporation is a financial services holding company headquartered in Tupelo, Mississippi. Through its principal subsidiary, Renasant Bank, the company provides banking and related financial services to individuals, families, small businesses, commercial clients and other organizations.
Renasant Bank offers deposit accounts, consumer and commercial lending, residential mortgages, treasury management and other business banking services. Its broader offerings also include wealth management, trust and investment services, financial planning and insurance-related solutions.
Renasant traces its banking history to 1904 and has expanded through organic growth and acquisitions.
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