Quantinno Capital Management LP Purchases 32,349 Shares of Renasant Corp $RNST

Quantinno Capital Management LP lifted its position in Renasant Corp (NYSE:RNST) by 187.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,639 shares of the company’s stock after purchasing an additional 32,349 shares during the period. Quantinno Capital Management LP’s holdings in Renasant were worth $1,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of RNST. Principal Financial Group Inc. lifted its stake in shares of Renasant by 178.5% during the 1st quarter. Principal Financial Group Inc. now owns 1,261,160 shares of the company’s stock valued at $45,566,000 after buying an additional 808,316 shares in the last quarter. State Street Corp boosted its holdings in Renasant by 14.1% in the 2nd quarter. State Street Corp now owns 4,812,696 shares of the company’s stock worth $172,920,000 after buying an additional 595,609 shares during the period. Channing Capital Management LLC increased its stake in Renasant by 35.0% in the 4th quarter. Channing Capital Management LLC now owns 2,225,536 shares of the company’s stock worth $78,383,000 after buying an additional 576,986 shares in the last quarter. Deprince Race & Zollo Inc. increased its stake in Renasant by 76.8% in the 1st quarter. Deprince Race & Zollo Inc. now owns 976,243 shares of the company’s stock worth $35,272,000 after buying an additional 423,963 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Renasant by 15.3% during the third quarter. Wellington Management Group LLP now owns 2,962,781 shares of the company’s stock valued at $109,297,000 after acquiring an additional 394,249 shares during the period. 77.31% of the stock is currently owned by institutional investors.

Renasant Price Performance

RNST stock opened at $42.95 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.90 and a current ratio of 0.91. The company’s fifty day moving average price is $42.70 and its 200-day moving average price is $40.18. Renasant Corp has a one year low of $33.04 and a one year high of $44.54. The company has a market capitalization of $3.93 billion, a PE ratio of 12.86 and a beta of 0.98.

Renasant (NYSE:RNST) last posted its earnings results on Tuesday, July 28th. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.03. The company had revenue of $573.62 million during the quarter, compared to analysts’ expectations of $280.71 million. Renasant had a net margin of 19.94% and a return on equity of 8.67%. During the same period last year, the company posted $0.01 earnings per share. On average, equities analysts anticipate that Renasant Corp will post 3.79 EPS for the current fiscal year.

Insider Activity at Renasant

In other Renasant news, Director Albert J. Dale III sold 1,650 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $39.80, for a total transaction of $65,670.00. Following the completion of the transaction, the director owned 40,075 shares of the company’s stock, valued at $1,594,985. This represents a 3.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward Robinson Mcgraw sold 35,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $43.88, for a total value of $1,535,800.00. Following the transaction, the director owned 211,458 shares of the company’s stock, valued at approximately $9,278,777.04. The trade was a 14.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 50,611 shares of company stock worth $2,154,689 over the last 90 days. Company insiders own 2.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RNST. Weiss Ratings restated a “buy (b-)” rating on shares of Renasant in a research report on Friday, June 5th. Hovde Group increased their target price on Renasant from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. TD Cowen lifted their target price on Renasant from $48.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Piper Sandler boosted their price target on Renasant from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $47.67.

Renasant Profile

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. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and equipment leasing services, as well as safe deposit and night depository facilities. It also provides commercial, financial, and agricultural loans; equipment financing and leasing; real estate–1-4 family mortgage; real estate–commercial mortgage; real estate–construction loans for the construction of single family residential properties, multi-family properties, and commercial projects; installment loans to individuals; and interim construction loans, as well as automated teller machine (ATM), online and mobile banking, call center, and treasury management services.