Cwm LLC Purchases 398 Shares of Renasant Co. (NASDAQ:RNST)

Cwm LLC boosted its position in shares of Renasant Co. (NASDAQ:RNST) by 42.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,330 shares of the financial services provider’s stock after purchasing an additional 398 shares during the period. Cwm LLC’s holdings in Renasant were worth $45,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Mascagni Wealth Management Inc. bought a new position in shares of Renasant in the 4th quarter valued at about $44,000. Covestor Ltd grew 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 acquiring an additional 780 shares in the last quarter. Smith Shellnut Wilson LLC ADV bought a new position in shares of Renasant in the 4th quarter valued at about $201,000. Dark Forest Capital Management LP bought a new position in shares of Renasant in the 4th quarter valued at about $221,000. Finally, Balefire LLC bought a new position in shares of Renasant in the 1st quarter valued at about $252,000. Institutional investors own 77.31% of the company’s stock.

Renasant Stock Down 3.0%

NASDAQ RNST opened at $35.53 on Monday. 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 $26.97 and a 1-year high of $39.63. The company has a 50 day moving average of $36.49 and a 200-day moving average of $35.12. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 10.87 and a beta of 0.90.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on RNST shares. Raymond James Financial reiterated a “strong-buy” rating on shares of Renasant in a report on Wednesday, July 23rd. Hovde Group lifted their price target on Renasant from $35.00 to $39.00 and gave the stock a “market perform” rating in a report on Wednesday, July 23rd. Finally, Keefe, Bruyette & Woods reduced their price target on Renasant from $45.00 to $43.00 and set an “outperform” rating for the company in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Renasant has a consensus rating of “Moderate Buy” and an average target price of $41.67.

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.