SG Americas Securities LLC Sells 165,057 Shares of Renasant Corp $RNST

SG Americas Securities LLC lessened its stake in shares of Renasant Corp (NYSE:RNST) by 39.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 248,116 shares of the company’s stock after selling 165,057 shares during the period. SG Americas Securities LLC’s holdings in Renasant were worth $8,964,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of RNST. Dimensional Fund Advisors LP boosted its stake in Renasant by 0.4% during the third quarter. Dimensional Fund Advisors LP now owns 5,413,327 shares of the company’s stock worth $199,697,000 after buying an additional 23,337 shares during the period. State Street Corp raised its stake in shares of Renasant by 14.1% in the second quarter. State Street Corp now owns 4,812,696 shares of the company’s stock valued at $172,920,000 after acquiring an additional 595,609 shares during the period. Wellington Management Group LLP raised its stake in shares of Renasant by 4.3% in the fourth quarter. Wellington Management Group LLP now owns 3,089,186 shares of the company’s stock valued at $108,801,000 after acquiring an additional 126,405 shares during the period. Invesco Ltd. lifted its holdings in shares of Renasant by 0.6% in the 3rd quarter. Invesco Ltd. now owns 2,229,966 shares of the company’s stock worth $82,263,000 after acquiring an additional 14,301 shares during the last quarter. Finally, Channing Capital Management LLC lifted its holdings in shares of Renasant by 35.0% in the 4th quarter. Channing Capital Management LLC now owns 2,225,536 shares of the company’s stock worth $78,383,000 after acquiring an additional 576,986 shares during the last quarter. 77.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on RNST shares. Wall Street Zen raised shares of Renasant from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Hovde Group raised their price objective on shares of Renasant from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Renasant in a research report on Friday, June 5th. Finally, TD Cowen restated a “buy” rating on shares of Renasant in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, Renasant presently has an average rating of “Buy” and a consensus target price of $45.50.

Insider Buying and Selling at Renasant

In other Renasant news, Director Albert J. Dale III sold 1,650 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $39.80, for a total value of $65,670.00. Following the transaction, the director directly owned 40,075 shares in the company, valued at $1,594,985. This represents a 3.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Connie L. Engel sold 1,257 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $40.90, for a total transaction of $51,411.30. Following the transaction, the director directly owned 15,449 shares in the company, valued at approximately $631,864.10. This trade represents a 7.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 15,611 shares of company stock valued at $618,889 in the last three months. Company insiders own 2.07% of the company’s stock.

Renasant Stock Up 0.2%

NYSE:RNST opened at $43.43 on Friday. Renasant Corp has a twelve month low of $33.04 and a twelve month high of $43.96. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 18.02 and a beta of 0.97. The stock has a fifty day simple moving average of $40.77 and a 200-day simple moving average of $38.64. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.13.

Renasant (NYSE:RNST) last issued its earnings results on Tuesday, April 28th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.09. The firm had revenue of $278.49 million during the quarter, compared to analyst estimates of $275.71 million. Renasant had a net margin of 14.47% and a return on equity of 8.17%. During the same period in the previous year, the firm earned $0.65 earnings per share. Analysts anticipate that Renasant Corp will post 3.73 EPS for the current year.

Renasant Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be given a $0.24 dividend. This is a positive change from Renasant’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $0.96 annualized dividend and a yield of 2.2%. Renasant’s dividend payout ratio is presently 39.83%.

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.