Universal Beteiligungs und Servicegesellschaft mbH Has $4.20 Million Position in Renasant Co. $RNST

Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of Renasant Co. (NASDAQ:RNST) by 28.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 113,947 shares of the financial services provider’s stock after buying an additional 25,372 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.12% of Renasant worth $4,204,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Louisiana State Employees Retirement System raised its stake in shares of Renasant by 44.1% in the second quarter. Louisiana State Employees Retirement System now owns 43,100 shares of the financial services provider’s stock worth $1,549,000 after purchasing an additional 13,200 shares during the last quarter. Concurrent Investment Advisors LLC bought a new stake in Renasant during the second quarter worth $225,000. JPMorgan Chase & Co. grew its holdings in Renasant by 100.3% during the second quarter. JPMorgan Chase & Co. now owns 553,572 shares of the financial services provider’s stock worth $19,890,000 after buying an additional 277,211 shares in the last quarter. Emerald Mutual Fund Advisers Trust purchased a new position in Renasant during the 2nd quarter worth $1,070,000. Finally, Russell Investments Group Ltd. grew its stake in shares of Renasant by 23.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 176,344 shares of the financial services provider’s stock worth $6,336,000 after acquiring an additional 32,967 shares in the last quarter. 77.31% of the stock is owned by institutional investors.

Renasant Stock Down 0.2%

Shares of NASDAQ RNST opened at $37.20 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94. The stock has a market capitalization of $3.53 billion, a PE ratio of 11.38 and a beta of 0.97. Renasant Co. has a one year low of $26.97 and a one year high of $40.40. The business’s fifty day moving average price is $36.18 and its 200-day moving average price is $36.54.

Renasant (NASDAQ:RNST) last announced its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.02). The firm had revenue of $269.55 million during the quarter, compared to analysts’ expectations of $271.96 million. Renasant had a return on equity of 6.58% and a net margin of 17.91%.During the same period in the previous year, the company posted $1.18 earnings per share. On average, equities research analysts anticipate that Renasant Co. will post 2.68 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. TD Cowen restated a “buy” rating on shares of Renasant in a report on Wednesday, January 7th. Hovde Group raised shares of Renasant from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $40.00 to $41.00 in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $43.33.

Renasant Profile

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.