Renasant Co. (NASDAQ:RNST) Shares Sold by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. lowered its stake in shares of Renasant Co. (NASDAQ:RNST) by 3.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,085,499 shares of the financial services provider’s stock after selling 65,575 shares during the quarter. Westwood Holdings Group Inc. owned about 3.70% of Renasant worth $63,691,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. purchased a new position in shares of Renasant in the 2nd quarter valued at approximately $29,000. Meeder Asset Management Inc. purchased a new position in Renasant in the 2nd quarter valued at $39,000. TFO Wealth Partners LLC increased its stake in Renasant by 13,710.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,381 shares of the financial services provider’s stock valued at $47,000 after buying an additional 1,371 shares during the period. Innealta Capital LLC purchased a new position in Renasant during the 2nd quarter worth $48,000. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Renasant in the 2nd quarter worth $157,000. Institutional investors and hedge funds own 77.31% of the company’s stock.

Renasant Stock Performance

Shares of RNST stock opened at $33.40 on Friday. The stock has a fifty day moving average price of $33.78 and a 200 day moving average price of $31.29. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.93. The stock has a market cap of $2.16 billion, a PE ratio of 13.58 and a beta of 1.02. Renasant Co. has a 1 year low of $22.99 and a 1 year high of $37.40.

Renasant (NASDAQ:RNST) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03. The company had revenue of $163.79 million during the quarter, compared to analysts’ expectations of $166.05 million. Renasant had a net margin of 15.04% and a return on equity of 6.98%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.83 earnings per share. Sell-side analysts forecast that Renasant Co. will post 2.58 earnings per share for the current fiscal year.

Renasant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.63%. Renasant’s dividend payout ratio (DPR) is 35.77%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on RNST shares. Hovde Group upgraded shares of Renasant from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $38.00 to $39.00 in a research note on Monday, August 5th. Truist Financial cut their target price on Renasant from $38.00 to $37.00 and set a “hold” rating for the company in a research note on Friday. Stephens upgraded Renasant from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $34.00 to $41.00 in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods raised Renasant from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $36.00 to $40.00 in a report on Friday, August 2nd. Finally, Raymond James raised Renasant from a “market perform” rating to an “outperform” rating and set a $39.00 target price for the company in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $39.33.

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. 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.