GAMMA Investing LLC Purchases 493 Shares of Renasant Co. $RNST

GAMMA Investing LLC raised its position in Renasant Co. (NASDAQ:RNST) by 49.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,489 shares of the financial services provider’s stock after purchasing an additional 493 shares during the period. GAMMA Investing LLC’s holdings in Renasant were worth $54,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in RNST. Quantbot Technologies LP bought a new stake in Renasant during the first quarter valued at $28,000. CWM LLC boosted its position in shares of Renasant by 42.7% during the 1st quarter. CWM LLC now owns 1,330 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 398 shares during the last quarter. State of Wyoming bought a new stake in shares of Renasant during the 1st quarter valued at about $51,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Renasant during the 1st quarter valued at about $54,000. Finally, Jones Financial Companies Lllp bought a new stake in shares of Renasant during the 1st quarter valued at about $67,000. Institutional investors own 77.31% of the company’s stock.

Renasant Stock Up 1.1%

Shares of Renasant stock opened at $36.83 on Friday. Renasant Co. has a 1 year low of $26.97 and a 1 year high of $40.40. The company has a 50-day moving average of $37.72 and a 200 day moving average of $35.49. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 11.26 and a beta of 0.89. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94.

Renasant Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 16th. Renasant’s dividend payout ratio (DPR) is 34.65%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Raymond James Financial reissued a “strong-buy” rating on shares of Renasant in a research note 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 report on Wednesday, July 23rd. Cowen began coverage on shares of Renasant in a report on Wednesday, September 24th. They set a “buy” rating for the company. Finally, TD Cowen started coverage on Renasant in a research note on Thursday, September 25th. They set a “buy” rating and a $45.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $43.00.

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.