UBS Group AG Purchases 78,037 Shares of Renasant Corp $RNST

UBS Group AG grew its position in Renasant Corp (NYSE:RNSTFree Report) by 27.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 367,464 shares of the company’s stock after acquiring an additional 78,037 shares during the period. UBS Group AG’s holdings in Renasant were worth $12,942,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. First Horizon Corp acquired a new stake in Renasant in the 3rd quarter valued at about $25,000. EverSource Wealth Advisors LLC increased its position in Renasant by 68.7% during the third quarter. EverSource Wealth Advisors LLC now owns 857 shares of the company’s stock worth $32,000 after buying an additional 349 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Renasant by 42.8% in the third quarter. PNC Financial Services Group Inc. now owns 1,152 shares of the company’s stock valued at $42,000 after buying an additional 345 shares during the period. Jones Financial Companies Lllp acquired a new stake in shares of Renasant in the first quarter valued at approximately $67,000. Finally, Danske Bank A S acquired a new stake in shares of Renasant in the third quarter valued at approximately $85,000. 77.31% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Kelly Hutcheson sold 1,350 shares of Renasant stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $38.65, for a total transaction of $52,177.50. Following the completion of the sale, the chief accounting officer owned 16,728 shares of the company’s stock, valued at approximately $646,537.20. This trade represents a 7.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.07% of the stock is owned by insiders.

Analyst Ratings Changes

RNST has been the topic of a number of recent analyst reports. Hovde Group boosted their target price on Renasant from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. TD Cowen reaffirmed a “buy” rating on shares of Renasant in a report on Thursday, April 30th. Wall Street Zen raised shares of Renasant from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. Finally, Weiss Ratings upgraded shares of Renasant from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $45.50.

View Our Latest Stock Report on RNST

Renasant Stock Up 1.3%

Shares of NYSE:RNST opened at $39.59 on Friday. Renasant Corp has a 12-month low of $33.04 and a 12-month high of $42.11. The stock’s 50 day moving average price is $38.01. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $3.65 billion, a PE ratio of 16.43 and a beta of 0.97.

Renasant (NYSE:RNSTGet Free Report) last announced its earnings results on Tuesday, April 28th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.09. The company had revenue of $278.49 million for the quarter, compared to analyst estimates of $275.71 million. Renasant had a return on equity of 8.17% and a net margin of 14.47%.During the same quarter last year, the company earned $0.65 earnings per share. Equities research analysts expect that Renasant Corp will post 3.73 earnings per share for the current year.

Renasant Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, June 16th. This is a positive change from Renasant’s previous quarterly dividend of $0.23. Renasant’s dividend payout ratio (DPR) is 38.17%.

Renasant Company Profile

(Free Report)

Renasant Corporation operates as a bank holding company for Renasant Bank that 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 accounts, business and personal loans, asset-based lending, and equipment leasing services, as well as safe deposit and night depository facilities. It also provides commercial, financial, and agricultural loans; equipment financing and leasing; real estate–1-4 family mortgage; real estate–commercial mortgage; real estate–construction loans for the construction of single family residential properties, multi-family properties, and commercial projects; installment loans to individuals; and interim construction loans, as well as automated teller machine (ATM), online and mobile banking, call center, and treasury management services.

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Institutional Ownership by Quarter for Renasant (NYSE:RNST)

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