Renasant Co. (NASDAQ:RNST) Holdings Raised by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Renasant Co. (NASDAQ:RNST) by 7.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 141,136 shares of the financial services provider’s stock after buying an additional 9,525 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.22% of Renasant worth $4,587,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Quarry LP grew its stake in Renasant by 698.3% during the 2nd quarter. Quarry LP now owns 934 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 817 shares in the last quarter. Hantz Financial Services Inc. purchased a new position in shares of Renasant during the 2nd quarter valued at $29,000. Meeder Asset Management Inc. acquired a new position in shares of Renasant in the second quarter worth $39,000. Innealta Capital LLC acquired a new stake in Renasant during the second quarter valued at $48,000. Finally, KBC Group NV increased its position in Renasant by 32.0% in the 3rd quarter. KBC Group NV now owns 2,457 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 596 shares during the last quarter. 77.31% of the stock is owned by hedge funds and other institutional investors.

Renasant Stock Performance

NASDAQ:RNST opened at $37.07 on Thursday. The firm has a market capitalization of $2.36 billion, a PE ratio of 12.07 and a beta of 1.02. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. Renasant Co. has a 1 year low of $27.98 and a 1 year high of $39.47. The firm’s fifty day simple moving average is $35.34 and its 200 day simple moving average is $33.22.

Renasant (NASDAQ:RNST) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. Renasant had a return on equity of 6.70% and a net margin of 16.83%. The company had revenue of $318.34 million for the quarter, compared to the consensus estimate of $184.73 million. During the same period in the previous year, the business posted $0.75 EPS. On average, sell-side analysts anticipate that Renasant Co. will post 2.65 EPS for the current year.

Renasant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Wednesday, December 18th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Wednesday, December 18th. Renasant’s dividend payout ratio (DPR) is presently 28.66%.

Insider Activity at Renasant

In other news, Director John Creekmore sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $38.00, for a total value of $114,000.00. Following the sale, the director now directly owns 24,057 shares in the company, valued at approximately $914,166. This represents a 11.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Truist Financial reduced their price target on Renasant from $38.00 to $37.00 and set a “hold” rating for the company in a report on Friday, September 20th. Hovde Group lowered shares of Renasant from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Renasant has a consensus rating of “Moderate Buy” and a consensus price target of $39.33.

Renasant 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.