Citigroup Inc. Has $4.19 Million Stock Holdings in Renasant Co. (NASDAQ:RNST)

Citigroup Inc. raised its position in Renasant Co. (NASDAQ:RNST) by 59.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 128,767 shares of the financial services provider’s stock after purchasing an additional 48,234 shares during the period. Citigroup Inc. owned 0.20% of Renasant worth $4,185,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP increased its stake in shares of Renasant by 698.3% in the 2nd quarter. Quarry LP now owns 934 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 817 shares in the last quarter. Hantz Financial Services Inc. purchased a new stake in Renasant during the second quarter valued at about $29,000. Meeder Asset Management Inc. purchased a new stake in Renasant during the second quarter valued at about $39,000. Innealta Capital LLC purchased a new stake in Renasant during the second quarter valued at about $48,000. Finally, KBC Group NV lifted its holdings in Renasant by 32.0% during the third quarter. KBC Group NV now owns 2,457 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 596 shares during the last quarter. Institutional investors and hedge funds own 77.31% of the company’s stock.

Renasant Stock Down 1.7 %

Shares of NASDAQ RNST opened at $36.93 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $2.35 billion, a PE ratio of 12.03 and a beta of 1.02. The stock’s fifty day simple moving average is $34.71 and its two-hundred day simple moving average is $32.96. Renasant Co. has a 12-month low of $27.98 and a 12-month high of $39.47.

Renasant (NASDAQ:RNST) last posted its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Renasant had a return on equity of 6.70% and a net margin of 16.83%. The firm had revenue of $318.34 million during the quarter, compared to analysts’ expectations of $184.73 million. During the same quarter last year, the firm earned $0.75 EPS. As a group, analysts expect that Renasant Co. will post 2.65 EPS for the current fiscal year.

Renasant Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Wednesday, December 18th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Wednesday, December 18th. Renasant’s dividend payout ratio is currently 28.66%.

Insider Transactions at Renasant

In other Renasant news, Director John Creekmore sold 3,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $38.00, for a total value of $114,000.00. Following the completion of the transaction, the director now owns 24,057 shares in the company, valued at $914,166. This represents a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Hovde Group cut Renasant from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 13th. Truist Financial decreased their price objective on shares of Renasant from $38.00 to $37.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Renasant presently has an average rating of “Moderate Buy” and a consensus target price of $39.33.

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. 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.