Renasant Co. (NASDAQ:RNST) Shares Sold by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. decreased its stake in shares of Renasant Co. (NASDAQ:RNST) by 3.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,085,499 shares of the financial services provider’s stock after selling 65,575 shares during the period. Westwood Holdings Group Inc.’s holdings in Renasant were worth $63,691,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Renasant by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 6,416,896 shares of the financial services provider’s stock worth $216,121,000 after buying an additional 16,417 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Renasant by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,887,606 shares of the financial services provider’s stock worth $118,725,000 after acquiring an additional 22,821 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Renasant by 4.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 830,687 shares of the financial services provider’s stock worth $27,978,000 after purchasing an additional 38,036 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Renasant by 7.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 755,441 shares of the financial services provider’s stock valued at $25,443,000 after purchasing an additional 50,084 shares in the last quarter. Finally, Frontier Capital Management Co. LLC grew its holdings in shares of Renasant by 6.5% during the 4th quarter. Frontier Capital Management Co. LLC now owns 744,338 shares of the financial services provider’s stock worth $25,069,000 after purchasing an additional 45,461 shares during the period. Hedge funds and other institutional investors own 77.31% of the company’s stock.

Renasant Price Performance

Shares of NASDAQ RNST opened at $33.40 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.18. Renasant Co. has a fifty-two week low of $22.99 and a fifty-two week high of $37.40. The business has a 50 day moving average price of $33.78 and a two-hundred day moving average price of $31.29. The firm has a market cap of $2.16 billion, a PE ratio of 13.58 and a beta of 1.02.

Renasant (NASDAQ:RNST) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03. Renasant had a net margin of 15.04% and a return on equity of 6.98%. The business had revenue of $163.79 million during the quarter, compared to analyst estimates of $166.05 million. During the same quarter in the previous year, the firm earned $0.83 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. Sell-side analysts expect that Renasant Co. will post 2.58 earnings per share for the current fiscal year.

Renasant Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.88 annualized dividend and a dividend yield of 2.63%. Renasant’s payout ratio is 35.77%.

Wall Street Analysts Forecast Growth

RNST has been the topic of several research reports. Stephens upgraded shares of Renasant from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $34.00 to $41.00 in a report on Wednesday, July 31st. Hovde Group raised shares of Renasant from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $38.00 to $39.00 in a research report on Monday, August 5th. Keefe, Bruyette & Woods raised Renasant from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $36.00 to $40.00 in a research report on Friday, August 2nd. Raymond James upgraded Renasant from a “market perform” rating to an “outperform” rating and set a $39.00 price objective on the stock in a research note on Wednesday, July 31st. Finally, Truist Financial lowered their target price on Renasant from $38.00 to $37.00 and set a “hold” rating for the company in a research note on Friday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Renasant has a consensus rating of “Moderate Buy” and a consensus 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.