Renasant Co. (NASDAQ:RNST) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets decreased its holdings in shares of Renasant Co. (NASDAQ:RNST) by 39.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,560 shares of the financial services provider’s stock after selling 13,591 shares during the quarter. BNP Paribas Financial Markets’ holdings in Renasant were worth $735,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RNST. Covestor Ltd raised its holdings in shares of Renasant by 73.7% in the 4th quarter. Covestor Ltd now owns 1,838 shares of the financial services provider’s stock valued at $66,000 after buying an additional 780 shares during the period. KBC Group NV grew its position in Renasant by 36.7% in the 4th quarter. KBC Group NV now owns 3,358 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 901 shares in the last quarter. Cibc World Markets Corp purchased a new stake in Renasant during the fourth quarter worth about $209,000. CIBC Asset Management Inc acquired a new stake in shares of Renasant during the fourth quarter worth about $220,000. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Renasant during the fourth quarter worth about $221,000. Hedge funds and other institutional investors own 77.31% of the company’s stock.

Wall Street Analysts Forecast Growth

RNST has been the topic of several analyst reports. Hovde Group increased their price objective on Renasant from $34.50 to $35.00 and gave the company a “market perform” rating in a research note on Monday, April 28th. Wall Street Zen downgraded Renasant from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods decreased their price objective on Renasant from $45.00 to $43.00 and set an “outperform” rating for the company in a research note on Tuesday, May 6th. Piper Sandler upped their target price on shares of Renasant from $41.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Finally, Raymond James raised shares of Renasant from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price on the stock in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Renasant has an average rating of “Moderate Buy” and an average price target of $41.00.

Renasant Stock Performance

Shares of NASDAQ RNST opened at $34.75 on Friday. The company has a 50-day simple moving average of $32.38 and a 200-day simple moving average of $35.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94. The company has a market cap of $2.21 billion, a PE ratio of 10.63 and a beta of 0.86. Renasant Co. has a 12 month low of $26.97 and a 12 month high of $39.63.

Renasant (NASDAQ:RNST) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.06. Renasant had a net margin of 17.91% and a return on equity of 6.58%. The company had revenue of $170.59 million for the quarter, compared to the consensus estimate of $170.38 million. During the same quarter last year, the firm posted $0.65 earnings per share. On average, equities analysts anticipate that Renasant Co. will post 2.68 earnings per share for the current year.

Renasant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.88 annualized dividend and a dividend yield of 2.53%. Renasant’s dividend payout ratio (DPR) is presently 27.33%.

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.