Insider Selling: Renasant (NASDAQ:RNST) EVP Sells $227,280.00 in Stock

Renasant Co. (NASDAQ:RNST) EVP Mark Jeanfreau sold 6,000 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $37.88, for a total value of $227,280.00. Following the completion of the transaction, the executive vice president directly owned 65,172 shares in the company, valued at $2,468,715.36. This trade represents a 8.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Renasant Trading Up 1.2%

NASDAQ:RNST opened at $41.21 on Friday. The stock has a 50-day simple moving average of $36.75 and a 200-day simple moving average of $36.58. The stock has a market cap of $3.92 billion, a P/E ratio of 12.60 and a beta of 0.99. Renasant Co. has a 1 year low of $26.97 and a 1 year high of $41.39. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.96.

Renasant (NASDAQ:RNST) last issued its earnings results on Tuesday, January 27th. The financial services provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.11. The business had revenue of $216.11 million for the quarter, compared to analyst estimates of $275.40 million. Renasant had a return on equity of 6.58% and a net margin of 17.91%.During the same quarter last year, the company earned $0.73 EPS. As a group, analysts anticipate that Renasant Co. will post 2.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on RNST shares. Hovde Group upped their target price on shares of Renasant from $41.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, January 30th. TD Cowen reissued a “buy” rating on shares of Renasant in a research report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. Based on data from MarketBeat.com, Renasant has an average rating of “Buy” and an average price target of $43.00.

Hedge Funds Weigh In On Renasant

A number of institutional investors have recently modified their holdings of the business. Oregon Public Employees Retirement Fund boosted its stake in Renasant by 1.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,701 shares of the financial services provider’s stock worth $764,000 after purchasing an additional 300 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of Renasant by 12.1% in the third quarter. Jones Financial Companies Lllp now owns 2,825 shares of the financial services provider’s stock valued at $106,000 after buying an additional 306 shares during the last quarter. Resolute Wealth Strategies LLC boosted its stake in shares of Renasant by 0.4% during the second quarter. Resolute Wealth Strategies LLC now owns 77,499 shares of the financial services provider’s stock worth $2,785,000 after buying an additional 318 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Renasant by 42.8% during the third quarter. PNC Financial Services Group Inc. now owns 1,152 shares of the financial services provider’s stock worth $42,000 after buying an additional 345 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Renasant by 68.7% during the third quarter. EverSource Wealth Advisors LLC now owns 857 shares of the financial services provider’s stock worth $32,000 after buying an additional 349 shares during the last quarter. 77.31% of the stock is owned by institutional investors and hedge funds.

Renasant Company Profile

Renasant Corporation is a financial holding company providing banking and related services through its primary subsidiary, Renasant Bank. With origins dating back to 1904 in Tupelo, Mississippi, the company offers a comprehensive suite of commercial and consumer banking products, including deposit accounts, lending and treasury management services. Renasant serves individuals, small businesses and corporate clients across the southeastern United States.

The company operates more than 110 banking offices across Mississippi, Alabama, Tennessee, Florida and Georgia, supplemented by a network of ATMs and digital platforms.