Renasant Co. (NASDAQ:RNST) Shares Sold by Comerica Bank

Comerica Bank lowered its stake in Renasant Co. (NASDAQ:RNSTGet Rating) by 10.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,812 shares of the financial services provider’s stock after selling 4,825 shares during the period. Comerica Bank owned about 0.08% of Renasant worth $1,498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Renasant by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 6,153,599 shares of the financial services provider’s stock valued at $205,838,000 after acquiring an additional 149,653 shares during the last quarter. State Street Corp increased its holdings in shares of Renasant by 10.8% in the 1st quarter. State Street Corp now owns 2,908,644 shares of the financial services provider’s stock valued at $97,294,000 after acquiring an additional 282,738 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Renasant by 1.1% in the 2nd quarter. Northern Trust Corp now owns 706,617 shares of the financial services provider’s stock valued at $20,357,000 after acquiring an additional 7,983 shares during the last quarter. Frontier Capital Management Co. LLC increased its holdings in shares of Renasant by 1.2% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 690,479 shares of the financial services provider’s stock valued at $19,893,000 after acquiring an additional 8,136 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Renasant by 16.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 604,616 shares of the financial services provider’s stock valued at $20,225,000 after acquiring an additional 86,588 shares during the last quarter. Institutional investors and hedge funds own 76.10% of the company’s stock.

Renasant Stock Up 1.6 %

Renasant stock opened at $36.03 on Monday. Renasant Co. has a twelve month low of $27.61 and a twelve month high of $41.77. The stock has a 50 day moving average of $38.53 and a two-hundred day moving average of $35.51. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 12.87 and a beta of 1.15.

Renasant (NASDAQ:RNSTGet Rating) last posted its quarterly earnings data on Tuesday, October 25th. The financial services provider reported $0.79 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.79. Renasant had a return on equity of 7.38% and a net margin of 24.05%. The company had revenue of $171.50 million during the quarter, compared to analysts’ expectations of $158.35 million. As a group, research analysts expect that Renasant Co. will post 3.01 earnings per share for the current year.

Renasant Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, January 1st. Shareholders of record on Friday, December 16th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, December 15th. This represents a $0.88 dividend on an annualized basis and a yield of 2.44%. Renasant’s payout ratio is 31.43%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Stephens increased their price objective on Renasant from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, October 28th. Raymond James upgraded Renasant from a “market perform” rating to an “outperform” rating and set a $41.00 price target on the stock in a research note on Thursday, October 27th. Finally, StockNews.com initiated coverage on Renasant in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.25.

Renasant Company Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for Renasant (NASDAQ:RNST)

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