Assenagon Asset Management S.A. bought a new position in shares of Renasant Corp. (NASDAQ:RNST) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 65,108 shares of the financial services provider’s stock, valued at approximately $2,683,000. Assenagon Asset Management S.A. owned 0.13% of Renasant at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. First Trust Advisors LP increased its holdings in shares of Renasant by 5.3% during the third quarter. First Trust Advisors LP now owns 95,019 shares of the financial services provider’s stock worth $3,916,000 after purchasing an additional 4,789 shares during the period. First Quadrant L P CA bought a new position in shares of Renasant during the third quarter worth approximately $124,000. Smith Shellnut Wilson LLC ADV bought a new position in shares of Renasant during the third quarter worth approximately $270,000. Northern Trust Corp increased its holdings in shares of Renasant by 2.7% during the second quarter. Northern Trust Corp now owns 1,182,888 shares of the financial services provider’s stock worth $53,845,000 after purchasing an additional 31,406 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Renasant by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 422,421 shares of the financial services provider’s stock worth $19,228,000 after acquiring an additional 9,688 shares in the last quarter. 67.85% of the stock is currently owned by institutional investors.
NASDAQ RNST opened at $35.63 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 0.13. The company has a market cap of $1.77 billion, a P/E ratio of 14.72 and a beta of 1.01. Renasant Corp. has a 1 year low of $32.01 and a 1 year high of $49.78.
Renasant (NASDAQ:RNST) last posted its quarterly earnings results on Monday, October 22nd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.01. The business had revenue of $138.90 million for the quarter, compared to analyst estimates of $142.06 million. Renasant had a net margin of 20.84% and a return on equity of 9.37%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the business posted $0.53 EPS. Equities analysts expect that Renasant Corp. will post 3.02 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Tuesday, December 18th will be given a dividend of $0.21 per share. This is a positive change from Renasant’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, December 17th. This represents a $0.84 annualized dividend and a dividend yield of 2.36%. Renasant’s dividend payout ratio (DPR) is currently 33.06%.
Several analysts recently issued reports on the stock. BidaskClub lowered shares of Renasant from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 30th. Zacks Investment Research upgraded shares of Renasant from a “sell” rating to a “hold” rating in a research report on Wednesday, September 19th. Raymond James lowered shares of Renasant from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 10th. Stephens reiterated a “hold” rating and set a $50.00 price target on shares of Renasant in a research report on Monday, August 20th. Finally, ValuEngine lowered shares of Renasant from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 24th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $47.20.
Renasant Corporation operates as a bank holding company for Renasant Bank, which 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, money market, individual retirement, and health savings accounts, as well as safe deposit and night depository facilities.
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