Victory Capital Management Inc. Has $142.05 Million Position in Renasant Co. (NASDAQ:RNST)

Victory Capital Management Inc. increased its stake in shares of Renasant Co. (NASDAQ:RNST) by 0.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,973,413 shares of the financial services provider’s stock after buying an additional 18,047 shares during the quarter. Victory Capital Management Inc. owned about 0.06% of Renasant worth $142,050,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Keybank National Association OH boosted its holdings in shares of Renasant by 10.5% during the fourth quarter. Keybank National Association OH now owns 31,464 shares of the financial services provider’s stock worth $1,125,000 after purchasing an additional 2,977 shares during the period. Charles Schwab Investment Management Inc. raised its position in Renasant by 11.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 817,844 shares of the financial services provider’s stock valued at $29,238,000 after acquiring an additional 83,100 shares in the last quarter. Fisher Asset Management LLC raised its position in Renasant by 47.8% during the fourth quarter. Fisher Asset Management LLC now owns 414,108 shares of the financial services provider’s stock valued at $14,804,000 after acquiring an additional 134,000 shares in the last quarter. Bank of New York Mellon Corp raised its position in Renasant by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 542,928 shares of the financial services provider’s stock valued at $19,410,000 after acquiring an additional 1,697 shares in the last quarter. Finally, BankPlus Trust Department bought a new position in Renasant during the fourth quarter valued at approximately $399,000. 77.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Kelly Hutcheson sold 1,310 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $36.72, for a total transaction of $48,103.20. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on RNST shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $46.00 price objective (up previously from $45.00) on shares of Renasant in a research report on Thursday, January 30th. Raymond James reaffirmed an “outperform” rating and set a $44.00 price objective (up previously from $40.00) on shares of Renasant in a research report on Thursday, January 30th. Stephens raised their price objective on shares of Renasant from $44.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Hovde Group lowered shares of Renasant from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 13th. Finally, StockNews.com lowered shares of Renasant from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $42.83.

Renasant Trading Down 0.4 %

NASDAQ:RNST opened at $34.95 on Thursday. Renasant Co. has a 12 month low of $27.98 and a 12 month high of $39.63. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 10.69 and a beta of 1.03. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average is $36.77 and its 200-day moving average is $35.37.

Renasant Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Monday, March 17th. Renasant’s dividend payout ratio is 26.91%.

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.