Nuveen Asset Management LLC Has $14.15 Million Position in Renasant Co. (NASDAQ:RNST)

Nuveen Asset Management LLC boosted its position in shares of Renasant Co. (NASDAQ:RNST) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 395,764 shares of the financial services provider’s stock after purchasing an additional 2,405 shares during the quarter. Nuveen Asset Management LLC owned 0.62% of Renasant worth $14,149,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Renasant by 5.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,546 shares of the financial services provider’s stock valued at $1,271,000 after buying an additional 1,862 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Renasant by 19.2% in the fourth quarter. Janus Henderson Group PLC now owns 29,127 shares of the financial services provider’s stock valued at $1,042,000 after buying an additional 4,700 shares during the period. Graham Capital Management L.P. acquired a new position in shares of Renasant in the fourth quarter valued at approximately $625,000. Frontier Capital Management Co. LLC boosted its holdings in shares of Renasant by 3.4% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,135,432 shares of the financial services provider’s stock valued at $40,592,000 after buying an additional 37,494 shares during the period. Finally, Deutsche Bank AG boosted its holdings in shares of Renasant by 61.9% in the fourth quarter. Deutsche Bank AG now owns 50,346 shares of the financial services provider’s stock valued at $1,800,000 after buying an additional 19,240 shares during the period. Institutional investors and hedge funds own 77.31% of the company’s stock.

Renasant Stock Performance

Shares of RNST stock opened at $34.61 on Monday. The company’s fifty day simple moving average is $32.38 and its 200-day simple moving average is $35.10. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.16. The firm has a market cap of $3.29 billion, a PE 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.

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

Renasant Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $0.22 per share. 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 (DPR) is currently 27.33%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RNST. Hovde Group upped their price target on shares of Renasant from $34.50 to $35.00 and gave the company a “market perform” rating in a report on Monday, April 28th. Piper Sandler upped 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. Wall Street Zen cut shares of Renasant from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Stephens boosted their price objective on shares of Renasant from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report 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 price objective on the stock in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Renasant has a consensus rating of “Moderate Buy” and an average price target of $41.00.

About Renasant

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.