Tudor Investment Corp ET AL cut its position in Renasant Corporation (NASDAQ:RNST) by 67.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,000 shares of the financial services provider’s stock after selling 14,393 shares during the period. Tudor Investment Corp ET AL’s holdings in Renasant Corporation were worth $278,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new stake in Renasant Corporation during the fourth quarter worth $571,000. New York State Teachers Retirement System bought a new stake in shares of Renasant Corporation during the fourth quarter valued at approximately $152,000. Envestnet Asset Management Inc. increased its stake 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. Guggenheim Capital LLC increased its stake in shares of Renasant Corporation by 94.4% in the fourth quarter. Guggenheim Capital LLC now owns 28,769 shares of the financial services provider’s stock valued at $1,214,000 after buying an additional 13,971 shares during the period. Finally, Norges Bank bought a new stake in shares of Renasant Corporation during the fourth quarter valued at approximately $18,172,000. 66.33% of the stock is owned by institutional investors.
Renasant Corporation (RNST) traded down 0.73% on Friday, reaching $39.66. The company’s stock had a trading volume of 176,463 shares. The stock has a 50-day moving average of $42.21 and a 200-day moving average of $41.52. Renasant Corporation has a one year low of $32.51 and a one year high of $45.32. 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 (NASDAQ:RNST) last released its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. Renasant Corporation had a return on equity of 8.31% and a net margin of 20.31%. The company had revenue of $113.87 million for the quarter, compared to analysts’ expectations of $112.43 million. During the same period in the prior year, the firm earned $0.59 earnings per share. On average, analysts predict that Renasant Corporation will post $2.35 EPS for the current fiscal year.
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Several analysts have recently commented on the stock. Zacks Investment Research upgraded Renasant Corporation from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Tuesday, July 4th. Jefferies Group LLC restated a “hold” rating and set a $44.00 price objective on shares of Renasant Corporation in a research note on Friday, June 9th. BidaskClub cut Renasant Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. ValuEngine upgraded 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 price objective on Renasant Corporation and gave the stock a “hold” rating in a report on Saturday, May 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $43.50.
In other Renasant Corporation news, CEO Edward Robinson Mcgraw sold 5,000 shares of the firm’s stock in a transaction dated 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 owns 229,789 shares of the company’s stock, valued at $9,880,927. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Fred F. Sharpe acquired 2,000 shares of the company’s stock in a transaction on Friday, August 11th. The shares were purchased at an average cost of $39.55 per share, for a total transaction of $79,100.00. The disclosure for this purchase can be found here. In the last three months, insiders purchased 9,023 shares of company stock worth $375,621 and sold 25,000 shares worth $1,052,800. Corporate insiders own 3.86% of the company’s stock.
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.
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