4,965 Shares in Renasant Corporation (RNST) Acquired by Highwater Wealth Management LLC
Highwater Wealth Management LLC bought a new position in shares of Renasant Corporation (NASDAQ:RNST) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,965 shares of the financial services provider’s stock, valued at approximately $213,000.
Other institutional investors have also modified their holdings of the company. Prudential Financial Inc. purchased a new position in shares of Renasant Corporation during the first quarter worth $1,865,000. Bank of New York Mellon Corp raised its holdings in shares of Renasant Corporation by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 297,139 shares of the financial services provider’s stock worth $12,997,000 after purchasing an additional 6,792 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Renasant Corporation by 16.5% during the first quarter. Bank of America Corp DE now owns 218,335 shares of the financial services provider’s stock worth $8,665,000 after purchasing an additional 30,969 shares during the last quarter. UBS Asset Management Americas Inc. raised its holdings in shares of Renasant Corporation by 58.8% during the first quarter. UBS Asset Management Americas Inc. now owns 22,095 shares of the financial services provider’s stock worth $877,000 after purchasing an additional 8,177 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Renasant Corporation during the first quarter worth $382,000. 61.48% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Albert J. Dale III sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $42.54, for a total value of $638,100.00. Following the sale, the director now directly owns 25,620 shares of the company’s stock, valued at $1,089,874.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael D. Shmerling bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was bought at an average cost of $41.50 per share, for a total transaction of $41,500.00. Following the completion of the transaction, the director now directly owns 156,347 shares of the company’s stock, valued at approximately $6,488,400.50. The disclosure for this purchase can be found here. Insiders have acquired a total of 9,023 shares of company stock worth $375,621 over the last ninety days. 3.86% of the stock is owned by corporate insiders.
Several research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Renasant Corporation from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a report on Tuesday, July 4th. BidaskClub cut shares of Renasant Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. ValuEngine raised shares of Renasant Corporation from a “hold” rating to a “buy” rating in a report on Monday, September 18th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $43.00 target price on shares of Renasant Corporation in a report on Friday, September 29th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $44.00 target price on shares of Renasant Corporation in a report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $44.00.
Renasant Corporation (NASDAQ RNST) traded up 1.43% on Friday, reaching $42.64. 283,992 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $41.18 and a 200-day moving average price of $41.67. Renasant Corporation has a 1-year low of $32.51 and a 1-year high of $45.32. The company has a market capitalization of $2.10 billion, a P/E ratio of 19.39 and a beta of 1.05.
Renasant Corporation (NASDAQ:RNST) last announced its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.08). The company had revenue of $123.43 million during the quarter, compared to analysts’ expectations of $127.07 million. Renasant Corporation had a net margin of 20.44% and a return on equity of 8.57%. During the same quarter in the prior year, the business earned $0.59 EPS. Equities research analysts expect that Renasant Corporation will post $2.31 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a dividend of $0.18 per share. The ex-dividend date was Thursday, September 14th. This represents a $0.72 annualized dividend and a dividend yield of 1.69%. Renasant Corporation’s dividend payout ratio is currently 32.88%.
Renasant Corporation 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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