Renasant Corporation (RNST) Director Michael D. Shmerling Acquires 1,000 Shares of Stock

Renasant Corporation (NASDAQ:RNST) Director Michael D. Shmerling acquired 1,000 shares of the company’s stock in a transaction on Friday, November 10th. The stock was acquired at an average price of $39.40 per share, for a total transaction of $39,400.00. Following the completion of the purchase, the director now owns 157,347 shares of the company’s stock, valued at approximately $6,199,471.80. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Renasant Corporation (NASDAQ RNST) opened at $40.66 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 0.15. The company has a market cap of $1,972.81, a price-to-earnings ratio of 16.88 and a beta of 1.00. Renasant Corporation has a one year low of $37.66 and a one year high of $45.31.

Renasant Corporation (NASDAQ:RNST) last posted its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.08). The business had revenue of $123.43 million during the quarter, compared to analyst estimates of $127.07 million. Renasant Corporation had a net margin of 20.44% and a return on equity of 8.57%. During the same quarter in the prior year, the firm posted $0.59 earnings per share. equities research analysts anticipate that Renasant Corporation will post 2.33 EPS for the current year.

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A number of research analysts have commented on the stock. Zacks Investment Research upgraded shares of Renasant Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. ValuEngine lowered shares of Renasant Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $43.00 price objective on shares of Renasant Corporation in a research note on Friday, September 29th. Finally, BidaskClub lowered shares of Renasant Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $44.00.

Large investors have recently modified their holdings of the company. Advisor Group Inc. boosted its holdings in shares of Renasant Corporation by 13.3% in the second quarter. Advisor Group Inc. now owns 3,168 shares of the financial services provider’s stock valued at $138,000 after acquiring an additional 371 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Renasant Corporation by 5.6% in the first quarter. New York State Teachers Retirement System now owns 3,800 shares of the financial services provider’s stock valued at $151,000 after acquiring an additional 200 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of Renasant Corporation by 7.5% in the second quarter. Ameritas Investment Partners Inc. now owns 3,792 shares of the financial services provider’s stock valued at $166,000 after acquiring an additional 264 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of Renasant Corporation by 4.2% in the first quarter. Amalgamated Bank now owns 5,350 shares of the financial services provider’s stock valued at $212,000 after acquiring an additional 214 shares in the last quarter. Finally, Highwater Wealth Management LLC purchased a new stake in shares of Renasant Corporation in the third quarter valued at about $213,000. 61.96% of the stock is currently owned by institutional investors and hedge funds.

About Renasant Corporation

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.

Insider Buying and Selling by Quarter for Renasant Corporation (NASDAQ:RNST)

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