Hovde Group set a $47.00 target price on Renasant (NASDAQ:RNST) in a report released on Friday morning. The firm currently has a hold rating on the financial services provider’s stock.

Other equities research analysts have also issued reports about the company. Zacks Investment Research upgraded Renasant from a hold rating to a buy rating and set a $47.00 price objective on the stock in a research report on Wednesday, January 10th. ValuEngine cut Renasant from a buy rating to a hold rating in a research note on Thursday, November 9th. Keefe, Bruyette & Woods restated a hold rating and issued a $43.00 target price on shares of Renasant in a research note on Friday, September 29th. BidaskClub upgraded Renasant from a sell rating to a hold rating in a research note on Wednesday, December 20th. Finally, Sandler O’Neill restated a hold rating and issued a $45.00 target price on shares of Renasant in a research note on Thursday, January 4th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $45.60.

Shares of Renasant (NASDAQ RNST) traded up $0.60 during mid-day trading on Friday, hitting $44.04. The stock had a trading volume of 229,300 shares, compared to its average volume of 199,854. The company has a market cap of $2,190.00, a price-to-earnings ratio of 22.24 and a beta of 1.01. Renasant has a 12-month low of $37.68 and a 12-month high of $45.31. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.14.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Thursday, December 14th. This is a boost from Renasant’s previous quarterly dividend of $0.18. Renasant’s dividend payout ratio (DPR) is presently 38.38%.

In other Renasant news, EVP William Mark Williams sold 7,000 shares of Renasant stock in a transaction on Friday, December 8th. The stock was sold at an average price of $41.32, for a total transaction of $289,240.00. Following the completion of the transaction, the executive vice president now owns 21,652 shares in the company, valued at $894,660.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Fred F. Sharpe acquired 2,000 shares of the stock in a transaction on Friday, January 19th. The shares were bought at an average price of $43.80 per share, with a total value of $87,600.00. Following the purchase, the director now directly owns 11,666 shares of the company’s stock, valued at approximately $510,970.80. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 22,729 shares of company stock valued at $932,963. 3.86% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the business. Amalgamated Bank raised its stake in Renasant by 1.2% during the second quarter. Amalgamated Bank now owns 5,415 shares of the financial services provider’s stock valued at $237,000 after buying an additional 65 shares during the last quarter. Legal & General Group Plc raised its stake in Renasant by 1.1% during the second quarter. Legal & General Group Plc now owns 16,021 shares of the financial services provider’s stock valued at $702,000 after buying an additional 178 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in Renasant by 7.5% during the second quarter. Ameritas Investment Partners Inc. now owns 3,792 shares of the financial services provider’s stock valued at $166,000 after buying an additional 264 shares during the last quarter. Advisor Group Inc. raised its stake in Renasant by 13.3% during the second quarter. Advisor Group Inc. now owns 3,168 shares of the financial services provider’s stock valued at $138,000 after buying an additional 371 shares during the last quarter. Finally, Citadel Advisors LLC raised its stake in Renasant by 6.2% during the second quarter. Citadel Advisors LLC now owns 29,662 shares of the financial services provider’s stock valued at $1,297,000 after buying an additional 1,742 shares during the last quarter. Institutional investors and hedge funds own 64.65% of the company’s stock.

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Renasant 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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