Renasant Co. (NASDAQ:RNST) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its holdings in Renasant Co. (NASDAQ:RNST) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 335,301 shares of the financial services provider’s stock after buying an additional 12,971 shares during the quarter. New York State Common Retirement Fund owned 0.53% of Renasant worth $11,987,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of RNST. CIBC Asset Management Inc purchased a new position in shares of Renasant in the fourth quarter worth approximately $220,000. Principal Financial Group Inc. raised its position in Renasant by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 308,195 shares of the financial services provider’s stock valued at $11,018,000 after acquiring an additional 8,710 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Renasant by 0.8% in the 4th quarter. Rhumbline Advisers now owns 184,830 shares of the financial services provider’s stock valued at $6,608,000 after purchasing an additional 1,479 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Renasant by 13.7% in the fourth quarter. Blue Trust Inc. now owns 21,814 shares of the financial services provider’s stock worth $780,000 after buying an additional 2,623 shares during the last quarter. Finally, Equitable Trust Co. acquired a new stake in Renasant in the 4th quarter worth approximately $248,000. 77.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Piper Sandler increased their price objective on Renasant from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $46.00 price target (up from $45.00) on shares of Renasant in a report on Thursday, January 30th. Raymond James restated an “outperform” rating and set a $44.00 target price (up from $40.00) on shares of Renasant in a research report on Thursday, January 30th. StockNews.com lowered shares of Renasant from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Finally, Hovde Group lowered shares of Renasant from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Renasant presently has an average rating of “Hold” and an average price target of $42.83.

Renasant Trading Down 1.2 %

NASDAQ RNST opened at $36.24 on Tuesday. The company has a market cap of $2.30 billion, a PE ratio of 11.08 and a beta of 1.03. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average of $36.73 and a 200-day moving average of $35.22. Renasant Co. has a 12 month low of $27.98 and a 12 month high of $39.63.

Renasant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.22 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.88 annualized dividend and a yield of 2.43%. Renasant’s dividend payout ratio (DPR) is currently 26.91%.

Insider Activity

In related news, CAO Kelly Hutcheson sold 1,310 shares of Renasant stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $36.72, for a total transaction of $48,103.20. Following the completion of the sale, the chief accounting officer now owns 17,586 shares of the company’s stock, valued at approximately $645,757.92. The trade was a 6.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.82% of the company’s stock.

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. 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.