Renasant (NASDAQ:RNST) EVP Mark Jeanfreau Sells 6,000 Shares

Renasant Co. (NASDAQ:RNST) EVP Mark Jeanfreau sold 6,000 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $37.88, for a total value of $227,280.00. Following the completion of the transaction, the executive vice president directly owned 65,172 shares of the company’s stock, valued at approximately $2,468,715.36. This trade represents a 8.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Renasant Price Performance

Shares of Renasant stock traded up $0.27 during trading on Tuesday, hitting $38.09. 397,872 shares of the company’s stock traded hands, compared to its average volume of 667,187. The company has a market cap of $3.62 billion, a PE ratio of 11.67 and a beta of 0.97. The firm’s fifty day moving average price is $36.49 and its 200 day moving average price is $36.52. Renasant Co. has a twelve month low of $26.97 and a twelve month high of $40.40. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94.

Renasant (NASDAQ:RNST) last posted its earnings results on Tuesday, January 27th. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.80 by $0.11. Renasant had a return on equity of 6.58% and a net margin of 17.91%.The business had revenue of $216.11 million during the quarter, compared to the consensus estimate of $275.40 million. During the same quarter last year, the company earned $0.73 EPS. Analysts forecast that Renasant Co. will post 2.68 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Invesco Ltd. boosted its stake in shares of Renasant by 365.6% during the 2nd quarter. Invesco Ltd. now owns 2,215,665 shares of the financial services provider’s stock worth $79,609,000 after acquiring an additional 1,739,786 shares during the period. Channing Capital Management LLC acquired a new stake in Renasant in the 3rd quarter worth about $60,815,000. Geode Capital Management LLC boosted its holdings in Renasant by 48.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,203,182 shares of the financial services provider’s stock valued at $79,169,000 after purchasing an additional 714,972 shares during the period. State Street Corp grew its position in shares of Renasant by 14.1% during the 2nd quarter. State Street Corp now owns 4,812,696 shares of the financial services provider’s stock worth $172,920,000 after purchasing an additional 595,609 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Renasant by 4,534.6% during the fourth quarter. SG Americas Securities LLC now owns 413,173 shares of the financial services provider’s stock worth $14,552,000 after purchasing an additional 404,258 shares during the period. Institutional investors own 77.31% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on RNST. Hovde Group increased their target price on Renasant from $41.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday. TD Cowen reaffirmed a “buy” rating on shares of Renasant in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $43.00.

About Renasant

Renasant Corporation is a financial holding company providing banking and related services through its primary subsidiary, Renasant Bank. With origins dating back to 1904 in Tupelo, Mississippi, the company offers a comprehensive suite of commercial and consumer banking products, including deposit accounts, lending and treasury management services. Renasant serves individuals, small businesses and corporate clients across the southeastern United States.

The company operates more than 110 banking offices across Mississippi, Alabama, Tennessee, Florida and Georgia, supplemented by a network of ATMs and digital platforms.