Renasant Corporation (NASDAQ:RNST) CEO Edward Robinson Mcgraw sold 5,000 shares of Renasant Corporation stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $43.00, for a total transaction of $215,000.00. Following the transaction, the chief executive officer now directly owns 229,789 shares in the company, valued at approximately $9,880,927. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of Renasant Corporation (RNST) traded down 0.70% on Friday, reaching $43.78. 322,237 shares of the company’s stock were exchanged. The stock has a market cap of $1.94 billion, a P/E ratio of 20.00 and a beta of 1.06. The company’s 50 day moving average price is $42.08 and its 200-day moving average price is $41.25. Renasant Corporation has a 52-week low of $30.21 and a 52-week high of $45.16.
Renasant Corporation (NASDAQ:RNST) last posted its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $106.04 million for the quarter, compared to analysts’ expectations of $109.87 million. Renasant Corporation had a return on equity of 8.35% and a net margin of 19.90%. During the same period in the prior year, the business earned $0.54 EPS. Equities analysts forecast that Renasant Corporation will post $2.25 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Wednesday, June 14th. Renasant Corporation’s dividend payout ratio is currently 33.03%.
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Institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. boosted its position in shares of Renasant Corporation by 5.9% in the fourth quarter. Bessemer Group Inc. now owns 55,800 shares of the financial services provider’s stock valued at $2,356,000 after buying an additional 3,100 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Renasant Corporation during the fourth quarter valued at $571,000. Dimensional Fund Advisors LP boosted its position in shares of Renasant Corporation by 4.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,635,004 shares of the financial services provider’s stock valued at $111,250,000 after buying an additional 119,371 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Renasant Corporation by 4.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 6,490 shares of the financial services provider’s stock valued at $273,000 after buying an additional 302 shares during the period. Finally, New York State Teachers Retirement System bought a new position in shares of Renasant Corporation during the fourth quarter valued at $152,000. Institutional investors and hedge funds own 66.48% of the company’s stock.
Several research analysts recently weighed in on the stock. Jefferies Group LLC reissued a “hold” rating and set a $44.00 price objective on shares of Renasant Corporation in a research note on Friday, June 9th. Zacks Investment Research raised shares of Renasant Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 16th. Finally, Keefe, Bruyette & Woods set a $43.00 price target on shares of Renasant Corporation and gave the company a “hold” rating in a research note on Saturday, May 27th.
Renasant Corporation Company Profile
Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance). The Company’s segments include Community Banks, which delivers a range of banking and financial services to individuals and small to medium-sized businesses, including checking and savings accounts, business and personal loans, equipment leasing, as well as safe deposit and night depository facilities; Insurance, which includes a full service insurance agency offering all lines of commercial and personal insurance through major carriers; Wealth Management, which offers a range of fiduciary services that includes the administration and management of trust accounts, including personal and corporate benefit accounts, and custodial accounts, and Other.
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