JPMorgan Chase & Co. Has $17.80 Million Stock Holdings in Renasant Corp $RNST

JPMorgan Chase & Co. decreased its position in shares of Renasant Corp (NYSE:RNST) by 12.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 482,583 shares of the company’s stock after selling 70,989 shares during the quarter. JPMorgan Chase & Co. owned about 0.51% of Renasant worth $17,802,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada raised its holdings in Renasant by 128.5% in the first quarter. Royal Bank of Canada now owns 52,238 shares of the company’s stock worth $1,772,000 after purchasing an additional 29,380 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Renasant by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,167 shares of the company’s stock valued at $1,261,000 after buying an additional 1,621 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of Renasant in the 1st quarter valued at $67,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Renasant by 13.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 189,105 shares of the company’s stock valued at $6,416,000 after buying an additional 23,072 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in Renasant during the 1st quarter worth $390,000. Institutional investors and hedge funds own 77.31% of the company’s stock.

Renasant Stock Performance

NYSE:RNST opened at $36.01 on Thursday. Renasant Corp has a 52-week low of $26.97 and a 52-week high of $42.11. The firm has a market capitalization of $3.39 billion, a P/E ratio of 16.99 and a beta of 0.97. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average of $38.09.

Renasant (NYSE:RNST) last issued its quarterly earnings results on Tuesday, January 27th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.80 by $0.11. The firm had revenue of $278.52 million during the quarter, compared to analysts’ expectations of $269.00 million. Renasant had a return on equity of 7.53% and a net margin of 12.55%.

Renasant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, March 17th. Renasant’s dividend payout ratio is presently 43.40%.

Analysts Set New Price Targets

Several research analysts have weighed in on RNST shares. Wall Street Zen upgraded Renasant from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. TD Cowen restated a “buy” rating on shares of Renasant in a report on Thursday, January 29th. Hovde Group lifted their price objective on Renasant from $41.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Finally, Weiss Ratings upgraded Renasant from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $43.00.

Insider Activity at Renasant

In other Renasant news, EVP Mark Jeanfreau sold 6,000 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $37.88, for a total transaction of $227,280.00. Following the sale, the executive vice president directly owned 65,172 shares of the company’s stock, valued at approximately $2,468,715.36. This represents a 8.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO James C. Iv Mabry sold 12,500 shares of the stock in a transaction on Friday, January 30th. The shares were sold at an average price of $37.83, for a total transaction of $472,875.00. Following the completion of the sale, the chief financial officer owned 105,337 shares of the company’s stock, valued at approximately $3,984,898.71. This represents a 10.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 19,850 shares of company stock valued at $752,333. 2.81% of the stock is owned by corporate insiders.

About Renasant

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. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and equipment leasing services, as well as safe deposit and night depository facilities. It also provides commercial, financial, and agricultural loans; equipment financing and leasing; real estate–1-4 family mortgage; real estate–commercial mortgage; real estate–construction loans for the construction of single family residential properties, multi-family properties, and commercial projects; installment loans to individuals; and interim construction loans, as well as automated teller machine (ATM), online and mobile banking, call center, and treasury management services.