Hsbc Holdings PLC Makes New $3.88 Million Investment in Renasant Co. (NASDAQ:RNST)

Hsbc Holdings PLC purchased a new position in shares of Renasant Co. (NASDAQ:RNSTFree Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 114,222 shares of the financial services provider’s stock, valued at approximately $3,883,000. Hsbc Holdings PLC owned about 0.20% of Renasant at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new stake in shares of Renasant in the fourth quarter worth about $25,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Renasant in the fourth quarter worth about $37,000. Covestor Ltd boosted 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 worth $58,000 after buying an additional 463 shares during the period. Criterion Capital Advisors LLC purchased a new stake in shares of Renasant in the fourth quarter worth about $113,000. Finally, Bailard Inc. purchased a new stake in shares of Renasant in the fourth quarter worth about $205,000. 77.31% of the stock is currently owned by institutional investors and hedge funds.

Renasant Trading Up 0.3 %

Shares of RNST opened at $29.05 on Thursday. The company has a market capitalization of $1.64 billion, a P/E ratio of 9.69 and a beta of 1.04. Renasant Co. has a one year low of $22.99 and a one year high of $34.85. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.93. The stock has a 50-day moving average price of $30.03 and a 200 day moving average price of $30.81.

Renasant (NASDAQ:RNSTGet Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. Renasant had a return on equity of 7.44% and a net margin of 14.67%. The firm had revenue of $254.56 million during the quarter, compared to the consensus estimate of $159.60 million. During the same quarter in the prior year, the business posted $0.82 earnings per share. Sell-side analysts forecast that Renasant Co. will post 2.62 EPS for the current fiscal year.

Renasant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Friday, June 14th. Renasant’s dividend payout ratio is presently 35.77%.

Analyst Upgrades and Downgrades

RNST has been the subject of several analyst reports. Truist Financial decreased their target price on Renasant from $35.00 to $33.00 and set a “hold” rating for the company in a research report on Monday, April 1st. StockNews.com raised Renasant from a “sell” rating to a “hold” rating in a research report on Saturday, April 27th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $33.00.

Get Our Latest Report on Renasant

About Renasant

(Free Report)

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.

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Institutional Ownership by Quarter for Renasant (NASDAQ:RNST)

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