American Century Companies Inc. Purchases 11,148 Shares of Renasant Co. (NASDAQ:RNST)

American Century Companies Inc. grew its holdings in shares of Renasant Co. (NASDAQ:RNST) by 11.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 109,083 shares of the financial services provider’s stock after acquiring an additional 11,148 shares during the period. American Century Companies Inc. owned 0.19% of Renasant worth $3,331,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Renasant by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,416,896 shares of the financial services provider’s stock worth $216,121,000 after purchasing an additional 16,417 shares in the last quarter. Westwood Holdings Group Inc. increased its stake in shares of Renasant by 13.0% in the 1st quarter. Westwood Holdings Group Inc. now owns 2,151,074 shares of the financial services provider’s stock valued at $67,372,000 after acquiring an additional 247,354 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Renasant by 4.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 830,687 shares of the financial services provider’s stock valued at $27,978,000 after acquiring an additional 38,036 shares during the period. Frontier Capital Management Co. LLC boosted its stake in Renasant by 6.5% during the fourth quarter. Frontier Capital Management Co. LLC now owns 744,338 shares of the financial services provider’s stock worth $25,069,000 after acquiring an additional 45,461 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Renasant by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 562,008 shares of the financial services provider’s stock worth $17,164,000 after purchasing an additional 11,828 shares during the period. 77.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RNST. Stephens upgraded shares of Renasant from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $34.00 to $41.00 in a report on Wednesday, July 31st. Truist Financial cut their price target on Renasant from $38.00 to $37.00 and set a “hold” rating on the stock in a report on Friday, September 20th. Hovde Group upgraded Renasant from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $38.00 to $39.00 in a report on Monday, August 5th. Raymond James upgraded Renasant from a “market perform” rating to an “outperform” rating and set a $39.00 target price on the stock in a report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods upgraded shares of Renasant from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $36.00 to $40.00 in a research note on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.33.

Renasant Stock Up 0.1 %

Shares of NASDAQ:RNST opened at $32.00 on Friday. The business’s 50 day moving average is $33.58 and its 200 day moving average is $31.31. Renasant Co. has a 12-month low of $22.99 and a 12-month high of $37.40. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 13.01 and a beta of 1.02. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.18.

Renasant (NASDAQ:RNST) last posted its quarterly earnings data 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 firm had revenue of $163.79 million for the quarter, compared to the consensus estimate of $166.05 million. Renasant had a net margin of 15.04% and a return on equity of 6.98%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.83 EPS. On average, sell-side analysts forecast that Renasant Co. will post 2.57 earnings per share for the current fiscal year.

Renasant Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.22 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.88 annualized dividend and a yield of 2.75%. Renasant’s dividend payout ratio (DPR) is 35.77%.

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.