Renasant Corporation (NASDAQ:RNST) Director Michael D. Shmerling acquired 1,000 shares of the company’s stock in a transaction on Friday, November 10th. The stock was acquired at an average price of $39.40 per share, for a total transaction of $39,400.00. Following the completion of the purchase, the director now owns 157,347 shares of the company’s stock, valued at approximately $6,199,471.80. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Renasant Corporation (NASDAQ RNST) opened at $40.66 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 0.15. The company has a market cap of $1,972.81, a price-to-earnings ratio of 16.88 and a beta of 1.00. Renasant Corporation has a one year low of $37.66 and a one year high of $45.31.
Renasant Corporation (NASDAQ:RNST) last posted its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.08). The business had revenue of $123.43 million during the quarter, compared to analyst estimates of $127.07 million. Renasant Corporation had a net margin of 20.44% and a return on equity of 8.57%. During the same quarter in the prior year, the firm posted $0.59 earnings per share. equities research analysts anticipate that Renasant Corporation will post 2.33 EPS for the current year.
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A number of research analysts have commented on the stock. Zacks Investment Research upgraded shares of Renasant Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. ValuEngine lowered shares of Renasant Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $43.00 price objective on shares of Renasant Corporation in a research note on Friday, September 29th. Finally, BidaskClub lowered shares of Renasant Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $44.00.
Large investors have recently modified their holdings of the company. Advisor Group Inc. boosted its holdings in shares of Renasant Corporation by 13.3% in the second quarter. Advisor Group Inc. now owns 3,168 shares of the financial services provider’s stock valued at $138,000 after acquiring an additional 371 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Renasant Corporation by 5.6% in the first quarter. New York State Teachers Retirement System now owns 3,800 shares of the financial services provider’s stock valued at $151,000 after acquiring an additional 200 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of Renasant Corporation by 7.5% in the second quarter. Ameritas Investment Partners Inc. now owns 3,792 shares of the financial services provider’s stock valued at $166,000 after acquiring an additional 264 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of Renasant Corporation by 4.2% in the first quarter. Amalgamated Bank now owns 5,350 shares of the financial services provider’s stock valued at $212,000 after acquiring an additional 214 shares in the last quarter. Finally, Highwater Wealth Management LLC purchased a new stake in shares of Renasant Corporation in the third quarter valued at about $213,000. 61.96% of the stock is currently owned by institutional investors and hedge funds.
About Renasant Corporation
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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