Renasant (NASDAQ:RNST) Price Target Raised to $47.00 at Stephens

Renasant (NASDAQ:RNST) had its price objective lifted by Stephens from $44.00 to $47.00 in a research report report published on Thursday,Benzinga reports. Stephens currently has an overweight rating on the financial services provider’s stock.

A number of other analysts also recently weighed in on the stock. Hovde Group downgraded shares of Renasant from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 13th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $46.00 price objective (up from $45.00) on shares of Renasant in a research report on Thursday. Piper Sandler boosted their target price on shares of Renasant from $41.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Raymond James reiterated an “outperform” rating and set a $44.00 price target (up from $40.00) on shares of Renasant in a report on Thursday. One 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 presently has a consensus rating of “Hold” and a consensus target price of $42.83.

Renasant Trading Down 1.0 %

Shares of RNST stock opened at $38.82 on Thursday. Renasant has a 1-year low of $27.98 and a 1-year high of $39.55. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 11.87 and a beta of 1.03. The stock has a 50-day moving average of $36.46 and a 200-day moving average of $34.83.

Renasant Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Wednesday, December 18th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend was Wednesday, December 18th. Renasant’s payout ratio is 26.91%.

Insider Buying and Selling at Renasant

In other news, Director John Creekmore sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $38.00, for a total value of $114,000.00. Following the completion of the sale, the director now directly owns 24,057 shares in the company, valued at $914,166. This trade represents a 11.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.82% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RNST. New York State Common Retirement Fund grew its stake in Renasant by 4.0% in the fourth quarter. New York State Common Retirement Fund now owns 335,301 shares of the financial services provider’s stock valued at $11,987,000 after acquiring an additional 12,971 shares during the period. CIBC Asset Management Inc acquired a new stake in Renasant in the 4th quarter valued at $220,000. Principal Financial Group Inc. increased its stake in Renasant by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 308,195 shares of the financial services provider’s stock valued at $11,018,000 after purchasing an additional 8,710 shares in the last quarter. Rhumbline Advisers raised its holdings in Renasant by 0.8% during the fourth quarter. Rhumbline Advisers now owns 184,830 shares of the financial services provider’s stock worth $6,608,000 after buying an additional 1,479 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Renasant by 13.7% in the fourth quarter. Blue Trust Inc. now owns 21,814 shares of the financial services provider’s stock valued at $780,000 after buying an additional 2,623 shares in the last quarter. 77.31% of the stock is owned by institutional investors and hedge funds.

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.