Renasant Corporation (RNST) Shares Bought by Palisade Capital Management LLC NJ
Palisade Capital Management LLC NJ boosted its holdings in shares of Renasant Corporation (NASDAQ:RNST) by 1.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 820,832 shares of the financial services provider’s stock after purchasing an additional 14,047 shares during the period. Renasant Corporation comprises approximately 1.3% of Palisade Capital Management LLC NJ’s investment portfolio, making the stock its 5th biggest position. Palisade Capital Management LLC NJ owned 1.66% of Renasant Corporation worth $35,214,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Advisor Group Inc. increased its holdings in shares of Renasant Corporation by 13.3% during the second quarter. Advisor Group Inc. now owns 3,168 shares of the financial services provider’s stock worth $138,000 after buying an additional 371 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in Renasant Corporation 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 acquiring an additional 264 shares during the last quarter. New York State Teachers Retirement System boosted its position in shares of Renasant Corporation by 5.6% during the 1st quarter. New York State Teachers Retirement System now owns 3,800 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 200 shares in the last quarter. Trust Co. of Toledo NA OH bought a new position in shares of Renasant Corporation during the 2nd quarter worth about $214,000. Finally, Highwater Wealth Management LLC bought a new position in shares of Renasant Corporation during the 3rd quarter worth about $213,000. Hedge funds and other institutional investors own 62.15% of the company’s stock.
RNST has been the topic of several recent research reports. Zacks Investment Research cut shares of Renasant Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Jefferies Group LLC restated 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 shares of Renasant Corporation from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. ValuEngine upgraded shares of Renasant Corporation from a “hold” rating to a “buy” rating in a research note on Monday, September 18th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $43.00 price objective on shares of Renasant Corporation in a research note on Friday, September 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Renasant Corporation has an average rating of “Hold” and a consensus target price of $44.00.
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In other news, Director Michael D. Shmerling acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was acquired at an average price of $41.50 per share, for a total transaction of $41,500.00. Following the completion of the acquisition, the director now directly owns 156,347 shares in the company, valued at approximately $6,488,400.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Fred F. Sharpe acquired 2,000 shares of the business’s 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 3,023 shares of company stock valued at $121,521. Insiders own 3.86% of the company’s stock.
Renasant Corporation (NASDAQ:RNST) last announced its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.08). The firm had revenue of $123.43 million during the quarter, compared to analyst estimates 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 last year, the company earned $0.59 EPS.
Renasant Corporation 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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