Insider Selling: Renasant (NYSE:RNST) Director Sells $65,670.00 in Stock

Renasant Corp (NYSE:RNST) Director Albert Dale III sold 1,650 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $39.80, for a total value of $65,670.00. Following the completion of the transaction, the director directly owned 40,075 shares of the company’s stock, valued at approximately $1,594,985. This trade represents a 3.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Renasant Trading Down 0.3%

Renasant stock opened at $41.04 on Friday. The business has a 50 day moving average price of $38.39 and a two-hundred day moving average price of $37.46. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.13. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of 17.03 and a beta of 0.97. Renasant Corp has a 12 month low of $33.04 and a 12 month high of $42.11.

Renasant (NYSE:RNST) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.84 by $0.09. The firm had revenue of $278.49 million during the quarter, compared to analysts’ expectations of $275.71 million. Renasant had a return on equity of 8.17% and a net margin of 14.47%.During the same quarter in the prior year, the firm posted $0.65 EPS. As a group, equities analysts forecast that Renasant Corp will post 3.73 EPS for the current year.

Renasant Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be issued a $0.24 dividend. This is a positive change from Renasant’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $0.96 annualized dividend and a yield of 2.3%. Renasant’s payout ratio is currently 38.17%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Weiss Ratings raised Renasant from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, March 10th. TD Cowen reissued a “buy” rating on shares of Renasant in a report on Thursday, April 30th. Hovde Group increased their target price on Renasant from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Finally, Wall Street Zen raised Renasant from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, Renasant has an average rating of “Buy” and an average price target of $45.50.

Institutional Investors Weigh In On Renasant

Large investors have recently bought and sold shares of the business. Jain Global LLC grew its position in Renasant by 408.5% during the 3rd quarter. Jain Global LLC now owns 486,377 shares of the company’s stock worth $17,942,000 after acquiring an additional 390,733 shares during the last quarter. Channing Capital Management LLC bought a new stake in Renasant during the 3rd quarter worth approximately $60,815,000. New York State Common Retirement Fund grew its position in Renasant by 113.1% during the 3rd quarter. New York State Common Retirement Fund now owns 733,356 shares of the company’s stock worth $27,054,000 after acquiring an additional 389,155 shares during the last quarter. Public Sector Pension Investment Board grew its position in Renasant by 17.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 370,597 shares of the company’s stock worth $13,671,000 after acquiring an additional 56,371 shares during the last quarter. Finally, Algebris UK Ltd. bought a new stake in Renasant during the 3rd quarter worth approximately $5,645,000. 77.31% of the stock is currently owned by institutional investors.

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. 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.