16,219 Shares in Renasant Co. (NASDAQ:RNST) Acquired by Quadrature Capital Ltd

Quadrature Capital Ltd purchased a new stake in Renasant Co. (NASDAQ:RNST) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 16,219 shares of the financial services provider’s stock, valued at approximately $527,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of RNST. Quantbot Technologies LP bought a new position in Renasant during the third quarter worth $2,534,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Renasant by 21.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 734,744 shares of the financial services provider’s stock valued at $23,879,000 after purchasing an additional 131,821 shares during the period. Amalgamated Bank boosted its position in shares of Renasant by 7.2% during the 3rd quarter. Amalgamated Bank now owns 18,414 shares of the financial services provider’s stock worth $598,000 after purchasing an additional 1,240 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Renasant in the 3rd quarter valued at about $670,000. Finally, Duncan Williams Asset Management LLC grew its stake in shares of Renasant by 19.9% in the 3rd quarter. Duncan Williams Asset Management LLC now owns 11,115 shares of the financial services provider’s stock valued at $361,000 after buying an additional 1,847 shares during the period. 77.31% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Renasant news, Director John Creekmore sold 3,000 shares of Renasant stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $38.00, for a total value of $114,000.00. Following the sale, the director now owns 24,057 shares of the company’s stock, valued at approximately $914,166. The trade was a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.82% of the company’s stock.

Renasant Price Performance

Shares of NASDAQ:RNST opened at $37.43 on Monday. Renasant Co. has a 1-year low of $27.98 and a 1-year high of $39.47. 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 market cap of $2.38 billion, a PE ratio of 12.19 and a beta of 1.02. The stock’s fifty day simple moving average is $35.03 and its two-hundred day simple moving average is $33.10.

Renasant (NASDAQ:RNST) last issued its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Renasant had a net margin of 16.83% and a return on equity of 6.70%. The business had revenue of $318.34 million during the quarter, compared to the consensus estimate of $184.73 million. During the same period in the prior year, the firm posted $0.75 EPS. As a group, analysts forecast that Renasant Co. will post 2.65 EPS for the current fiscal year.

Renasant Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Wednesday, December 18th will be issued a dividend of $0.22 per share. The ex-dividend date is Wednesday, December 18th. This represents a $0.88 dividend on an annualized basis and a yield of 2.35%. Renasant’s dividend payout ratio (DPR) is currently 28.66%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RNST shares. Truist Financial cut their price target on Renasant from $38.00 to $37.00 and set a “hold” rating on the stock in a report on Friday, September 20th. Hovde Group cut Renasant from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $39.33.

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.