Renasant Co. (NASDAQ:RNST) CAO Sells $48,103.20 in Stock

Renasant Co. (NASDAQ:RNST) CAO Kelly Hutcheson sold 1,310 shares of the firm’s 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 sale, the chief accounting officer now directly owns 17,586 shares in the company, valued at approximately $645,757.92. The trade was a 6.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Renasant Stock Performance

Shares of RNST stock traded up $0.23 during trading hours on Monday, reaching $36.92. 82,512 shares of the company traded hands, compared to its average volume of 520,338. The firm has a 50-day moving average price of $36.75 and a 200 day moving average price of $35.19. The company has a market cap of $2.35 billion, a P/E ratio of 11.27 and a beta of 1.03. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94. 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 declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.22 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.38%. Renasant’s payout ratio is currently 26.91%.

Institutional Trading of Renasant

Hedge funds and other institutional investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Renasant by 17.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 166,033 shares of the financial services provider’s stock worth $5,936,000 after buying an additional 24,897 shares during the period. Waverly Advisors LLC boosted its stake in shares of Renasant by 25.0% in the fourth quarter. Waverly Advisors LLC now owns 42,861 shares of the financial services provider’s stock worth $1,532,000 after acquiring an additional 8,562 shares during the period. Squarepoint Ops LLC raised its stake in Renasant by 9.1% during the 4th quarter. Squarepoint Ops LLC now owns 50,503 shares of the financial services provider’s stock valued at $1,805,000 after purchasing an additional 4,221 shares during the period. Two Sigma Advisers LP lifted its holdings in Renasant by 5.7% in the 4th quarter. Two Sigma Advisers LP now owns 120,100 shares of the financial services provider’s stock worth $4,294,000 after purchasing an additional 6,500 shares in the last quarter. Finally, Teza Capital Management LLC bought a new position in Renasant in the 4th quarter worth approximately $516,000. 77.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RNST has been the topic of several research reports. Raymond James restated an “outperform” rating and issued a $44.00 target price (up previously from $40.00) on shares of Renasant in a report on Thursday, January 30th. StockNews.com cut Renasant from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Piper Sandler raised their target price on Renasant from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Stephens upped their price target 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. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $46.00 price objective (up previously from $45.00) on shares of Renasant in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Renasant has an average rating of “Hold” and an average price target of $42.83.

About Renasant

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.