Renasant Co. $RNST Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. lifted its stake in Renasant Co. (NASDAQ:RNST) by 22.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,789,556 shares of the financial services provider’s stock after acquiring an additional 1,582,105 shares during the period. Vanguard Group Inc. owned 13.81% of Renasant worth $298,230,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in RNST. Mascagni Wealth Management Inc. bought a new stake in Renasant during the fourth quarter worth approximately $44,000. CWM LLC raised its stake in shares of Renasant by 42.7% in the 1st quarter. CWM LLC now owns 1,330 shares of the financial services provider’s stock worth $45,000 after buying an additional 398 shares in the last quarter. Smith Shellnut Wilson LLC ADV acquired a new stake in shares of Renasant in the fourth quarter valued at $201,000. Dark Forest Capital Management LP acquired a new stake in shares of Renasant in the fourth quarter valued at $221,000. Finally, Balefire LLC bought a new position in Renasant during the first quarter valued at about $252,000. 77.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Renasant Trading Down 1.4%

NASDAQ:RNST opened at $37.58 on Monday. The stock has a fifty day simple moving average of $36.80 and a 200 day simple moving average of $35.09. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of 11.49 and a beta of 0.94. Renasant Co. has a 1-year low of $26.97 and a 1-year high of $39.63. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.16.

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.