Duncan Williams Asset Management LLC Has $361,000 Stock Position in Renasant Co. (NASDAQ:RNST)

Duncan Williams Asset Management LLC grew its stake in Renasant Co. (NASDAQ:RNST) by 19.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,115 shares of the financial services provider’s stock after purchasing an additional 1,847 shares during the quarter. Duncan Williams Asset Management LLC’s holdings in Renasant were worth $361,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Quarry LP lifted its stake in shares of Renasant by 698.3% in the 2nd quarter. Quarry LP now owns 934 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 817 shares during the period. Hantz Financial Services Inc. acquired a new position in shares of Renasant in the 2nd quarter valued at $29,000. Meeder Asset Management Inc. acquired a new position in shares of Renasant in the 2nd quarter valued at $39,000. TFO Wealth Partners LLC lifted its stake in shares of Renasant by 13,710.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,381 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 1,371 shares during the period. Finally, Innealta Capital LLC acquired a new position in shares of Renasant in the 2nd quarter valued at $48,000. Institutional investors and hedge funds own 77.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RNST. Keefe, Bruyette & Woods raised Renasant from a “market perform” rating to an “outperform” rating and increased their price target for the company from $36.00 to $40.00 in a research note on Friday, August 2nd. Piper Sandler raised Renasant from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $34.00 to $40.00 in a research note on Monday, August 5th. Hovde Group raised Renasant from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $38.00 to $39.00 in a research note on Monday, August 5th. Truist Financial dropped their price objective on Renasant from $38.00 to $37.00 and set a “hold” rating on the stock in a research note on Friday, September 20th. Finally, Stephens raised Renasant from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $34.00 to $41.00 in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.33.

Renasant Stock Performance

RNST opened at $31.40 on Friday. The business’s 50-day moving average price is $33.13 and its two-hundred day moving average price is $31.38. Renasant Co. has a 1 year low of $22.99 and a 1 year high of $37.40. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 12.76 and a beta of 1.02. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.93 and a quick ratio of 0.92.

Renasant (NASDAQ:RNST) last released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.03. Renasant had a return on equity of 6.98% and a net margin of 15.04%. The firm had revenue of $163.79 million for the quarter, compared to the consensus estimate of $166.05 million. During the same quarter last year, the business posted $0.83 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities analysts expect that Renasant Co. will post 2.54 EPS for the current fiscal year.

Renasant Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.80%. The ex-dividend date was Monday, September 16th. Renasant’s payout ratio is 35.77%.

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.