Deutsche Bank AG Has $1.80 Million Stake in Renasant Co. (NASDAQ:RNST)

Deutsche Bank AG grew its holdings in Renasant Co. (NASDAQ:RNST) by 61.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,346 shares of the financial services provider’s stock after buying an additional 19,240 shares during the quarter. Deutsche Bank AG owned 0.08% of Renasant worth $1,800,000 as of its most recent filing with the SEC.

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

Renasant Stock Performance

Shares of NASDAQ:RNST opened at $34.61 on Friday. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 10.58 and a beta of 0.86. Renasant Co. has a 12 month low of $26.97 and a 12 month high of $39.63. The company has a 50-day moving average price of $32.38 and a 200-day moving average price of $35.13. 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 (NASDAQ:RNST) last posted its 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. The firm had revenue of $170.59 million for the quarter, compared to the consensus estimate of $170.38 million. Renasant had a return on equity of 6.58% and a net margin of 17.91%. During the same quarter in the prior year, the business earned $0.65 EPS. As a group, equities analysts anticipate that Renasant Co. will post 2.68 EPS for the current year.

Renasant Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.54%. The ex-dividend date is Monday, June 16th. Renasant’s dividend payout ratio is currently 27.33%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wall Street Zen downgraded shares of Renasant from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Hovde Group raised their price objective on Renasant from $34.50 to $35.00 and gave the stock a “market perform” rating in a research note on Monday, April 28th. Raymond James raised shares of Renasant from an “outperform” rating to a “strong-buy” rating and set a $40.00 price objective on the stock in a research note on Thursday, April 24th. Piper Sandler lifted their price target on shares of Renasant from $41.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Finally, Stephens lifted their price target on Renasant from $44.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $41.00.

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.