72,665 Shares in Renasant Corp $RNST Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new stake in shares of Renasant Corp (NYSE:RNST) in the second quarter, Holdings Channel reports. The fund bought 72,665 shares of the company’s stock, valued at approximately $3,091,000.

Several other institutional investors also recently bought and sold shares of RNST. BlackRock Inc. acquired a new position in shares of Renasant during the 2nd quarter worth approximately $566,683,000. Dimensional Fund Advisors LP grew its position in shares of Renasant by 1.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,328,672 shares of the company’s stock valued at $192,521,000 after buying an additional 61,674 shares during the last quarter. State Street Corp boosted its stake in shares of Renasant by 14.1% during the second 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. Wellington Management Group LLP raised its stake in shares of Renasant by 4.3% during the 4th quarter. Wellington Management Group LLP now owns 3,089,186 shares of the company’s stock worth $108,801,000 after buying an additional 126,405 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Renasant by 0.6% during the third quarter. Invesco Ltd. now owns 2,229,966 shares of the company’s stock worth $82,263,000 after purchasing an additional 14,301 shares in the last quarter. 77.31% of the stock is currently owned by institutional investors and hedge funds.

Renasant Trading Up 0.4%

NYSE RNST opened at $41.38 on Friday. Renasant Corp has a 12 month low of $33.04 and a 12 month high of $44.54. The stock has a 50-day simple moving average of $42.65 and a 200 day simple moving average of $40.48. The company has a market capitalization of $3.78 billion, a PE ratio of 12.39 and a beta of 0.97. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.21.

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

Renasant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, September 16th. Renasant’s dividend payout ratio is presently 28.74%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. TD Cowen upped their price objective on Renasant from $48.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Piper Sandler boosted their target price on shares of Renasant from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Finally, Weiss Ratings raised shares of Renasant from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Renasant presently has a consensus rating of “Buy” and an average target price of $47.67.

Insider Activity at Renasant

In other news, Director Edward Mcgraw sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $43.88, for a total transaction of $1,535,800.00. Following the completion of the sale, the director owned 211,458 shares of the company’s stock, valued at $9,278,777.04. This trade represents a 14.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.07% of the company’s stock.

Renasant Company 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.