Bridgeway Capital Management LLC Buys 25,829 Shares of Renasant Corp $RNST

Bridgeway Capital Management LLC grew its stake in shares of Renasant Corp (NYSE:RNST) by 5.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 496,867 shares of the company’s stock after buying an additional 25,829 shares during the period. Bridgeway Capital Management LLC’s holdings in Renasant were worth $17,500,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its holdings in Renasant by 68.7% during the third quarter. EverSource Wealth Advisors LLC now owns 857 shares of the company’s stock worth $32,000 after buying an additional 349 shares during the last quarter. First Horizon Corp boosted its holdings in Renasant by 56.3% during the fourth quarter. First Horizon Corp now owns 1,080 shares of the company’s stock worth $38,000 after buying an additional 389 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Renasant by 42.8% during the third quarter. PNC Financial Services Group Inc. now owns 1,152 shares of the company’s stock worth $42,000 after buying an additional 345 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Renasant during the fourth quarter worth about $60,000. Finally, State of Wyoming boosted its holdings in Renasant by 31.8% during the fourth quarter. State of Wyoming now owns 1,832 shares of the company’s stock worth $65,000 after buying an additional 442 shares during the last quarter. Institutional investors own 77.31% of the company’s stock.

Renasant Trading Down 1.5%

NYSE RNST opened at $41.24 on Thursday. The firm has a market cap of $3.81 billion, a P/E ratio of 17.11 and a beta of 0.97. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.90 and a quick ratio of 0.89. The stock’s 50-day moving average is $40.30 and its 200-day moving average is $38.32. Renasant Corp has a one year low of $33.04 and a one year high of $43.50.

Renasant (NYSE:RNST) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.09. The company had revenue of $278.49 million for the quarter, compared to analyst estimates of $275.71 million. Renasant had a return on equity of 8.17% and a net margin of 14.47%.During the same quarter last year, the firm posted $0.65 earnings per share. Sell-side analysts anticipate that Renasant Corp will post 3.73 earnings per share for the current fiscal year.

Renasant Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a dividend of $0.24 per share. The ex-dividend date is Tuesday, June 16th. This is a boost from Renasant’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.3%. Renasant’s dividend payout ratio is 39.83%.

Wall Street Analyst Weigh In

RNST has been the topic of a number of recent analyst reports. Hovde Group raised their target price on Renasant from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Renasant in a research report on Friday, June 5th. TD Cowen reaffirmed a “buy” rating on shares of Renasant in a research report on Thursday, April 30th. Finally, Wall Street Zen raised Renasant from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $45.50.

Insider Buying and Selling

In related news, Vice Chairman C Mitchell Waycaster sold 12,704 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $39.50, for a total transaction of $501,808.00. Following the completion of the transaction, the insider directly owned 183,235 shares in the company, valued at approximately $7,237,782.50. This trade represents a 6.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Albert J. Dale III sold 1,650 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $39.80, for a total value of $65,670.00. Following the transaction, the director owned 40,075 shares of the company’s stock, valued at approximately $1,594,985. The trade was a 3.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 15,611 shares of company stock worth $618,889. 2.07% of the stock is owned by corporate insiders.

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. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and equipment leasing services, as well as safe deposit and night depository facilities. It also provides commercial, financial, and agricultural loans; equipment financing and leasing; real estate–1-4 family mortgage; real estate–commercial mortgage; real estate–construction loans for the construction of single family residential properties, multi-family properties, and commercial projects; installment loans to individuals; and interim construction loans, as well as automated teller machine (ATM), online and mobile banking, call center, and treasury management services.