Yousif Capital Management LLC Cuts Stock Position in Renasant Co. (NASDAQ:RNST)

Yousif Capital Management LLC reduced its holdings in shares of Renasant Co. (NASDAQ:RNST) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,799 shares of the financial services provider’s stock after selling 528 shares during the period. Yousif Capital Management LLC’s holdings in Renasant were worth $851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. SG Americas Securities LLC lifted its position in Renasant by 94.1% during the third quarter. SG Americas Securities LLC now owns 7,188 shares of the financial services provider’s stock valued at $234,000 after purchasing an additional 3,484 shares during the period. Creative Planning purchased a new position in shares of Renasant during the 3rd quarter worth $207,000. Allspring Global Investments Holdings LLC increased its stake in Renasant by 21.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,746,924 shares of the financial services provider’s stock worth $56,775,000 after acquiring an additional 303,945 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Renasant by 8.5% during the 3rd quarter. Louisiana State Employees Retirement System now owns 30,700 shares of the financial services provider’s stock worth $998,000 after purchasing an additional 2,400 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in Renasant by 9.7% during the third quarter. State of Alaska Department of Revenue now owns 36,270 shares of the financial services provider’s stock worth $1,178,000 after purchasing an additional 3,193 shares during the period. Hedge funds and other institutional investors own 77.31% of the company’s stock.

Renasant Stock Up 0.2 %

Shares of RNST opened at $38.46 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.16. The firm has a market cap of $2.45 billion, a PE ratio of 11.76 and a beta of 1.03. The company’s fifty day moving average is $36.66 and its two-hundred day moving average is $35.01. Renasant Co. has a fifty-two week low of $27.98 and a fifty-two week high of $39.63.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. StockNews.com downgraded shares of Renasant from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Stephens increased their price objective on Renasant from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Raymond James reaffirmed an “outperform” rating and issued a $44.00 price objective (up previously from $40.00) on shares of Renasant in a report on Thursday, January 30th. Hovde Group cut Renasant from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 13th. Finally, Piper Sandler increased their price target on shares of Renasant from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, Renasant has a consensus rating of “Hold” and an average target price of $42.83.

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.