Renasant Corporation (NASDAQ:RNST) Director Michael D. Shmerling bought 1,000 shares of Renasant Corporation stock in a transaction on Tuesday, August 8th. The shares were acquired at an average cost of $41.50 per share, for a total transaction of $41,500.00. Following the completion of the acquisition, the director now directly owns 156,347 shares in the company, valued at $6,488,400.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Renasant Corporation (RNST) opened at 39.66 on Friday. The stock has a market cap of $1.96 billion, a P/E ratio of 17.89 and a beta of 1.04. Renasant Corporation has a one year low of $32.51 and a one year high of $45.31. The stock has a 50 day moving average of $42.21 and a 200 day moving average of $41.52.
Renasant Corporation (NASDAQ:RNST) last released its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.04. The firm had revenue of $113.87 million during the quarter, compared to analyst estimates of $112.43 million. Renasant Corporation had a net margin of 20.31% and a return on equity of 8.31%. During the same quarter in the prior year, the firm earned $0.59 EPS. On average, analysts forecast that Renasant Corporation will post $2.35 EPS for the current year.
A number of equities research analysts have recently commented on RNST shares. Jefferies Group LLC reaffirmed a “hold” rating and issued a $44.00 price objective on shares of Renasant Corporation in a research note on Friday, July 14th. BidaskClub lowered shares of Renasant Corporation from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Zacks Investment Research lowered shares of Renasant Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. ValuEngine raised shares of Renasant Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Finally, Keefe, Bruyette & Woods set a $43.00 target price on shares of Renasant Corporation and gave the stock a “hold” rating in a research note on Saturday, May 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $43.50.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in Renasant Corporation by 28,180.2% in the first quarter. BlackRock Inc. now owns 2,801,720 shares of the financial services provider’s stock valued at $111,200,000 after buying an additional 2,791,813 shares during the last quarter. Vanguard Group Inc. increased its position in Renasant Corporation by 44.4% in the first quarter. Vanguard Group Inc. now owns 3,410,031 shares of the financial services provider’s stock worth $135,344,000 after buying an additional 1,048,279 shares in the last quarter. Westwood Holdings Group Inc. purchased a new position in Renasant Corporation during the second quarter worth approximately $43,071,000. Norges Bank purchased a new position in Renasant Corporation during the fourth quarter worth approximately $18,172,000. Finally, Wells Fargo & Company MN increased its position in Renasant Corporation by 49.1% in the first quarter. Wells Fargo & Company MN now owns 956,436 shares of the financial services provider’s stock worth $37,962,000 after buying an additional 315,049 shares in the last quarter. Institutional investors and hedge funds own 66.33% of the company’s stock.
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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