Mirae Asset Global Investments Co. Ltd. Increases Holdings in Renasant Co. (NASDAQ:RNST)

Mirae Asset Global Investments Co. Ltd. grew its holdings in Renasant Co. (NASDAQ:RNST) by 5.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 25,202 shares of the financial services provider’s stock after acquiring an additional 1,315 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Renasant were worth $849,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Resolute Wealth Strategies LLC lifted its position in shares of Renasant by 0.6% in the third quarter. Resolute Wealth Strategies LLC now owns 75,058 shares of the financial services provider’s stock valued at $1,966,000 after acquiring an additional 435 shares in the last quarter. Covestor Ltd lifted its position in shares of Renasant by 26.6% in the third quarter. Covestor Ltd now owns 2,204 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 463 shares in the last quarter. Watershed Asset Management L.L.C. lifted its position in shares of Renasant by 8.2% in the third quarter. Watershed Asset Management L.L.C. now owns 8,957 shares of the financial services provider’s stock valued at $235,000 after acquiring an additional 680 shares in the last quarter. Ignite Planners LLC lifted its position in shares of Renasant by 8.0% in the fourth quarter. Ignite Planners LLC now owns 18,622 shares of the financial services provider’s stock valued at $626,000 after acquiring an additional 1,382 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of Renasant by 1.1% in the third quarter. Swiss National Bank now owns 123,300 shares of the financial services provider’s stock valued at $3,229,000 after acquiring an additional 1,400 shares in the last quarter. 77.31% of the stock is currently owned by hedge funds and other institutional investors.

Renasant Trading Up 1.8 %

Shares of RNST stock opened at $30.54 on Wednesday. Renasant Co. has a 1 year low of $22.99 and a 1 year high of $34.85. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.91 and a quick ratio of 0.90. The stock’s 50 day simple moving average is $30.37 and its two-hundred day simple moving average is $29.87. The company has a market cap of $1.72 billion, a PE ratio of 11.84 and a beta of 1.03.

Renasant (NASDAQ:RNST) last issued its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.12. Renasant had a return on equity of 7.98% and a net margin of 15.94%. The business had revenue of $230.79 million for the quarter, compared to the consensus estimate of $160.63 million. During the same period in the prior year, the business posted $0.89 earnings per share. Research analysts predict that Renasant Co. will post 2.63 earnings per share for the current year.

Renasant Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, June 14th. This represents a $0.88 dividend on an annualized basis and a yield of 2.88%. Renasant’s dividend payout ratio (DPR) is presently 34.11%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Truist Financial reduced their target price on Renasant from $35.00 to $33.00 and set a “hold” rating on the stock in a report on Monday, April 1st. Stephens lifted their target price on Renasant from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. Keefe, Bruyette & Woods lifted their target price on Renasant from $34.00 to $35.00 and gave the stock a “market perform” rating in a report on Tuesday, January 30th. Finally, StockNews.com cut Renasant from a “hold” rating to a “sell” rating in a report on Friday, April 19th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $33.00.

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.