New York State Teachers Retirement System boosted its position in shares of Renasant Corporation (NASDAQ:RNST) by 5.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,800 shares of the financial services provider’s stock after buying an additional 200 shares during the period. New York State Teachers Retirement System’s holdings in Renasant Corporation were worth $151,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in RNST. Vanguard Group Inc. raised its stake in shares of 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 during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Renasant Corporation by 7.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,828,731 shares of the financial services provider’s stock worth $112,273,000 after buying an additional 193,727 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of 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 during the last quarter. Victory Capital Management Inc. raised its stake in shares of Renasant Corporation by 2.4% in the first quarter. Victory Capital Management Inc. now owns 521,269 shares of the financial services provider’s stock worth $20,689,000 after buying an additional 12,261 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Renasant Corporation during the fourth quarter worth approximately $18,172,000. 66.33% of the stock is currently owned by hedge funds and other institutional investors.
Renasant Corporation (RNST) opened at 39.66 on Friday. Renasant Corporation has a 1-year low of $32.51 and a 1-year high of $45.31. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 17.89 and a beta of 1.04. The company has a 50 day moving average price of $42.21 and a 200-day moving average price of $41.52.
Renasant Corporation (NASDAQ:RNST) last released its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.04. Renasant Corporation had a return on equity of 8.31% and a net margin of 20.31%. The business had revenue of $113.87 million during the quarter, compared to analysts’ expectations of $112.43 million. During the same quarter last year, the business posted $0.59 EPS. On average, analysts forecast that Renasant Corporation will post $2.35 EPS for the current fiscal year.
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RNST has been the topic of a number of recent research reports. Jefferies Group LLC reissued a “hold” rating and set a $44.00 price target on shares of Renasant Corporation in a research note on Friday, July 14th. BidaskClub lowered Renasant Corporation from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Zacks Investment Research lowered Renasant Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. ValuEngine raised 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 research note on Saturday, May 27th. One investment 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 company presently has an average rating of “Hold” and an average target price of $43.50.
In other news, CEO Edward Robinson Mcgraw sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $43.00, for a total value of $215,000.00. Following the completion of the transaction, the chief executive officer now owns 229,789 shares in the company, valued at approximately $9,880,927. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Fred F. Sharpe bought 2,000 shares of the stock in a transaction dated Friday, August 11th. The stock was purchased at an average price of $39.55 per share, with a total value of $79,100.00. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 9,023 shares of company stock valued at $375,621 and sold 25,000 shares valued at $1,052,800. Company 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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