6,274 Shares in Renasant Co. (NASDAQ:RNST) Bought by Brookstone Capital Management

Brookstone Capital Management bought a new position in Renasant Co. (NASDAQ:RNST) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 6,274 shares of the financial services provider’s stock, valued at approximately $211,000.

Other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. increased its holdings in shares of Renasant by 89.4% during the 3rd quarter. Victory Capital Management Inc. now owns 4,535,641 shares of the financial services provider’s stock worth $118,788,000 after purchasing an additional 2,140,613 shares during the period. Norges Bank bought a new position in shares of Renasant during the 4th quarter worth about $19,074,000. State Street Corp increased its holdings in shares of Renasant by 10.8% during the 1st quarter. State Street Corp now owns 2,908,644 shares of the financial services provider’s stock worth $97,294,000 after purchasing an additional 282,738 shares during the period. Millennium Management LLC increased its holdings in shares of Renasant by 2,244.0% during the 2nd quarter. Millennium Management LLC now owns 292,433 shares of the financial services provider’s stock worth $8,425,000 after purchasing an additional 279,957 shares during the period. Finally, Morgan Stanley increased its holdings in shares of Renasant by 64.6% during the 4th quarter. Morgan Stanley now owns 599,592 shares of the financial services provider’s stock worth $22,539,000 after purchasing an additional 235,315 shares during the period. Institutional investors own 77.31% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on RNST. TheStreet upgraded shares of Renasant from a “c+” rating to a “b-” rating in a report on Thursday, December 14th. Keefe, Bruyette & Woods boosted their price objective on shares of Renasant from $34.00 to $35.00 and gave the stock a “market perform” rating in a report on Tuesday, January 30th. Stephens boosted their price objective on shares of Renasant from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. Finally, StockNews.com upgraded shares of Renasant from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. Six investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Renasant has a consensus rating of “Hold” and a consensus target price of $31.50.

Renasant Price Performance

Shares of Renasant stock opened at $31.19 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.90 and a current ratio of 0.91. The firm’s 50-day simple moving average is $31.21 and its 200-day simple moving average is $29.30. Renasant Co. has a twelve month low of $22.99 and a twelve month high of $34.85. The firm has a market cap of $1.75 billion, a P/E ratio of 12.09 and a beta of 1.03.

Renasant (NASDAQ:RNST) last issued its earnings results on Wednesday, January 24th. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.12. Renasant had a net margin of 15.94% and a return on equity of 7.98%. The business had revenue of $230.79 million for the quarter, compared to analyst estimates of $160.63 million. During the same period in the previous year, the business earned $0.89 EPS. As a group, research analysts expect that Renasant Co. will post 2.56 EPS for the current fiscal year.

Renasant Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be given a $0.22 dividend. The ex-dividend date is Thursday, March 14th. This represents a $0.88 dividend on an annualized basis and a yield of 2.82%. Renasant’s dividend payout ratio (DPR) is presently 34.11%.

About Renasant

Renasant Corporation operates as a bank holding company for Renasant Bank that provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. The company operates through Community Banks, Insurance, and Wealth Management segments. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and factoring equipment leasing services, as well as safe deposit and night depository facilities.