Renasant Corp. (RNST) Shares Sold by Rhumbline Advisers
Rhumbline Advisers trimmed its holdings in Renasant Corp. (NASDAQ:RNST) by 13.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,473 shares of the financial services provider’s stock after selling 6,892 shares during the period. Rhumbline Advisers owned about 0.09% of Renasant worth $1,859,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Jane Street Group LLC acquired a new position in Renasant in the third quarter valued at about $217,000. Principal Financial Group Inc. grew its stake in Renasant by 33.6% in the third quarter. Principal Financial Group Inc. now owns 7,179 shares of the financial services provider’s stock valued at $308,000 after acquiring an additional 1,805 shares during the period. Aperio Group LLC grew its stake in Renasant by 43.6% in the third quarter. Aperio Group LLC now owns 7,519 shares of the financial services provider’s stock valued at $323,000 after acquiring an additional 2,284 shares during the period. BNP Paribas Arbitrage SA grew its stake in Renasant by 43.6% in the third quarter. BNP Paribas Arbitrage SA now owns 7,847 shares of the financial services provider’s stock valued at $337,000 after acquiring an additional 2,381 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in Renasant in the fourth quarter valued at about $689,000. 65.47% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Fred F. Sharpe bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The shares were acquired at an average price of $43.80 per share, for a total transaction of $87,600.00. Following the completion of the acquisition, the director now owns 11,666 shares of the company’s stock, valued at approximately $510,970.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director J Niles Mcneel sold 8,948 shares of the company’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $44.36, for a total value of $396,933.28. Following the sale, the director now owns 14,831 shares in the company, valued at approximately $657,903.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,948 shares of company stock worth $1,048,833. Corporate insiders own 3.86% of the company’s stock.
Shares of Renasant Corp. (NASDAQ:RNST) opened at $42.91 on Friday. The company has a market capitalization of $2,180.99, a PE ratio of 18.25 and a beta of 1.03. Renasant Corp. has a twelve month low of $37.68 and a twelve month high of $45.31. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.14.
Renasant (NASDAQ:RNST) last issued its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. The company had revenue of $125.70 million for the quarter, compared to analyst estimates of $124.55 million. Renasant had a return on equity of 8.19% and a net margin of 18.19%. sell-side analysts anticipate that Renasant Corp. will post 3.01 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 16th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.77%. Renasant’s dividend payout ratio (DPR) is 38.58%.
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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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