State of Alaska Department of Revenue decreased its holdings in shares of Renasant Co. (NASDAQ:RNST – Free Report) by 3.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,908 shares of the financial services provider’s stock after selling 1,371 shares during the quarter. State of Alaska Department of Revenue owned about 0.07% of Renasant worth $964,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its position in shares of Renasant by 14.6% in the 1st quarter. JPMorgan Chase & Co. now owns 223,044 shares of the financial services provider’s stock worth $7,460,000 after acquiring an additional 28,419 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in shares of Renasant by 13.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 6,225 shares of the financial services provider’s stock worth $208,000 after acquiring an additional 760 shares during the period. Citigroup Inc. lifted its position in shares of Renasant by 12.0% in the 1st quarter. Citigroup Inc. now owns 49,405 shares of the financial services provider’s stock worth $1,653,000 after acquiring an additional 5,309 shares during the period. Bank of Montreal Can lifted its position in shares of Renasant by 84.4% in the 1st quarter. Bank of Montreal Can now owns 41,006 shares of the financial services provider’s stock worth $1,398,000 after acquiring an additional 18,769 shares during the period. Finally, MetLife Investment Management LLC lifted its position in shares of Renasant by 53.1% in the 1st quarter. MetLife Investment Management LLC now owns 29,195 shares of the financial services provider’s stock worth $977,000 after acquiring an additional 10,121 shares during the period. Institutional investors own 76.47% of the company’s stock.
Renasant Trading Up 1.5 %
RNST stock opened at $25.29 on Tuesday. The business has a fifty day moving average price of $27.17 and a 200 day moving average price of $27.78. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 8.49 and a beta of 1.10. Renasant Co. has a fifty-two week low of $23.47 and a fifty-two week high of $41.77. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.90 and a quick ratio of 0.88.
Renasant Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Thursday, September 14th. Renasant’s dividend payout ratio is currently 29.53%.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on RNST. Piper Sandler raised their price objective on Renasant from $30.00 to $32.00 in a research report on Thursday, July 27th. Stephens raised their target price on Renasant from $30.00 to $34.00 in a research report on Thursday, July 27th. StockNews.com started coverage on Renasant in a research report on Thursday, October 5th. They set a “sell” rating for the company. Finally, Truist Financial cut their target price on Renasant from $34.00 to $27.00 and set a “hold” rating for the company in a research report on Wednesday, September 27th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $33.40.
View Our Latest Research Report on Renasant
Renasant Company Profile
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 factoring equipment leasing services, as well as safe deposit and night depository facilities.
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