Allspring Global Investments Holdings LLC Sells 3,684 Shares of Renasant Co. (NASDAQ:RNST)

Allspring Global Investments Holdings LLC lowered its holdings in shares of Renasant Co. (NASDAQ:RNST) by 0.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,743,240 shares of the financial services provider’s stock after selling 3,684 shares during the quarter. Allspring Global Investments Holdings LLC owned about 2.74% of Renasant worth $61,641,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Victory Capital Management Inc. raised its holdings in shares of Renasant by 1.7% during the 3rd quarter. Victory Capital Management Inc. now owns 3,955,366 shares of the financial services provider’s stock valued at $128,549,000 after purchasing an additional 65,777 shares in the last quarter. State Street Corp raised its holdings in shares of Renasant by 26.5% during the 3rd quarter. State Street Corp now owns 3,369,915 shares of the financial services provider’s stock valued at $109,522,000 after purchasing an additional 705,344 shares in the last quarter. Geode Capital Management LLC raised its holdings in Renasant by 12.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,428,038 shares of the financial services provider’s stock worth $46,420,000 after acquiring an additional 153,086 shares during the period. Jennison Associates LLC raised its holdings in Renasant by 204.9% in the 4th quarter. Jennison Associates LLC now owns 1,173,801 shares of the financial services provider’s stock worth $41,963,000 after acquiring an additional 788,762 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Renasant by 21.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 734,744 shares of the financial services provider’s stock worth $23,879,000 after acquiring an additional 131,821 shares during the period. Institutional investors own 77.31% of the company’s stock.

Renasant Stock Performance

NASDAQ RNST opened at $38.42 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 11.75 and a beta of 1.03. The company’s fifty day moving average is $36.62 and its two-hundred day moving average is $34.97. Renasant Co. has a 52-week low of $27.98 and a 52-week high of $39.63.

Analyst Upgrades and Downgrades

RNST has been the topic of several recent analyst reports. Raymond James reiterated an “outperform” rating and issued a $44.00 target price (up previously from $40.00) on shares of Renasant in a report on Thursday, January 30th. StockNews.com downgraded shares of Renasant from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Piper Sandler lifted their target price on shares of Renasant from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Stephens lifted their target price on shares of Renasant from $44.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Finally, Hovde Group downgraded shares of Renasant from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $42.83.

Renasant 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. 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.