Renasant Corporation (RNST) Director Michael D. Shmerling Purchases 1,000 Shares

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.

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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.

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

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