OLD Mission Capital LLC Invests $1.50 Million in Renasant Co. (NASDAQ:RNST)

OLD Mission Capital LLC bought a new stake in Renasant Co. (NASDAQ:RNST) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 42,040 shares of the financial services provider’s stock, valued at approximately $1,503,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 valued at $23,879,000 after acquiring an additional 131,821 shares during the last quarter. Citigroup Inc. boosted its holdings in Renasant by 59.9% in the third quarter. Citigroup Inc. now owns 128,767 shares of the financial services provider’s stock valued at $4,185,000 after purchasing an additional 48,234 shares during the last quarter. FMR LLC raised its stake in shares of Renasant by 1.1% during the 3rd quarter. FMR LLC now owns 97,133 shares of the financial services provider’s stock valued at $3,157,000 after buying an additional 1,086 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Renasant by 24.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 34,151 shares of the financial services provider’s stock valued at $1,110,000 after buying an additional 6,670 shares during the period. Finally, Glenmede Trust Co. NA purchased a new stake in shares of Renasant in the third quarter worth about $288,000. Institutional investors and hedge funds own 77.31% of the company’s stock.

Analysts Set New Price Targets

RNST has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reissued 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. Stephens boosted their target price on shares of Renasant from $44.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. StockNews.com lowered shares of Renasant from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Raymond James decreased their price objective on shares of Renasant from $44.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Piper Sandler raised their target price on Renasant from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Renasant has a consensus rating of “Hold” and an average target price of $42.17.

Renasant Stock Down 0.3 %

RNST stock opened at $33.98 on Thursday. The stock has a market capitalization of $2.16 billion, a P/E ratio of 10.39 and a beta of 1.02. Renasant Co. has a 52 week low of $27.98 and a 52 week high of $39.63. The firm has a 50-day simple moving average of $36.30 and a 200-day simple moving average of $35.51. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.16.

Renasant Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.59%. Renasant’s payout ratio is currently 26.91%.

Insider Activity

In other Renasant news, CAO Kelly Hutcheson sold 1,310 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $36.72, for a total value of $48,103.20. Following the transaction, the chief accounting officer now owns 17,586 shares in the company, valued at approximately $645,757.92. This trade represents a 6.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.81% 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.