Curi RMB Capital LLC Has $3.48 Million Position in Renasant Co. (NASDAQ:RNST)

Curi RMB Capital LLC increased its position in shares of Renasant Co. (NASDAQ:RNST) by 233.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,115 shares of the financial services provider’s stock after buying an additional 75,000 shares during the quarter. Curi RMB Capital LLC owned 0.17% of Renasant worth $3,481,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. acquired a new stake in shares of Renasant during the 2nd quarter worth approximately $29,000. Quarry LP boosted its stake in Renasant by 698.3% during the second quarter. Quarry LP now owns 934 shares of the financial services provider’s stock worth $29,000 after buying an additional 817 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Renasant in the 2nd quarter valued at $39,000. Innealta Capital LLC bought a new stake in Renasant in the 2nd quarter valued at $48,000. Finally, KBC Group NV raised its stake in shares of Renasant by 32.0% in the 3rd quarter. KBC Group NV now owns 2,457 shares of the financial services provider’s stock valued at $80,000 after buying an additional 596 shares in the last quarter. 77.31% of the stock is currently owned by institutional investors.

Insider Activity at Renasant

In other Renasant news, Director John Creekmore sold 3,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $38.00, for a total transaction of $114,000.00. Following the transaction, the director now directly owns 24,057 shares in the company, valued at approximately $914,166. This represents a 11.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.82% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RNST. Piper Sandler raised shares of Renasant from a “neutral” rating to an “overweight” rating and upped their target price for the company from $34.00 to $40.00 in a research note on Monday, August 5th. Keefe, Bruyette & Woods upgraded Renasant from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $36.00 to $40.00 in a research report on Friday, August 2nd. Stephens upgraded Renasant from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $34.00 to $41.00 in a research report on Wednesday, July 31st. Hovde Group downgraded shares of Renasant from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Finally, Raymond James upgraded shares of Renasant from a “market perform” rating to an “outperform” rating and set a $39.00 target price for the company in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $39.33.

Renasant Trading Down 0.7 %

RNST opened at $36.75 on Friday. Renasant Co. has a 1-year low of $26.28 and a 1-year high of $38.77. The firm has a 50-day moving average price of $33.47 and a two-hundred day moving average price of $32.26. The stock has a market capitalization of $2.34 billion, a PE ratio of 13.22 and a beta of 1.01. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16.

Renasant (NASDAQ:RNST) last posted its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. The firm had revenue of $318.34 million during the quarter, compared to analysts’ expectations of $184.73 million. Renasant had a net margin of 16.83% and a return on equity of 6.70%. During the same quarter in the previous year, the company posted $0.75 EPS. As a group, equities analysts anticipate that Renasant Co. will post 2.64 earnings per share for the current fiscal year.

About Renasant

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. The company operates through Community Banks, Insurance, and Wealth Management segments. 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.