Renasant (NASDAQ:RNST) CFO James Iv Mabry Sells 12,500 Shares of Stock

Renasant Co. (NASDAQ:RNST) CFO James Iv Mabry sold 12,500 shares of the stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $37.83, for a total transaction of $472,875.00. Following the completion of the sale, the chief financial officer directly owned 105,337 shares of the company’s stock, valued at approximately $3,984,898.71. This trade represents a 10.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Renasant Stock Up 0.4%

RNST stock opened at $37.86 on Tuesday. Renasant Co. has a one year low of $26.97 and a one year high of $40.40. The firm has a market cap of $3.60 billion, a PE ratio of 11.58 and a beta of 0.97. The firm’s 50 day moving average price is $36.49 and its 200-day moving average price is $36.52. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.96.

Renasant (NASDAQ:RNST) last issued its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.11. Renasant had a return on equity of 6.58% and a net margin of 17.91%.The company had revenue of $216.11 million during the quarter, compared to analyst estimates of $275.40 million. During the same period in the prior year, the business posted $0.73 earnings per share. On average, equities research analysts anticipate that Renasant Co. will post 2.68 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RNST. TD Cowen restated a “buy” rating on shares of Renasant in a report on Thursday. Hovde Group lifted their price target on shares of Renasant from $41.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat, Renasant currently has a consensus rating of “Buy” and a consensus price target of $43.00.

Hedge Funds Weigh In On Renasant

Several institutional investors have recently modified their holdings of RNST. Jones Financial Companies Lllp increased its position in shares of Renasant by 12.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,825 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 306 shares during the last quarter. Resolute Wealth Strategies LLC grew its stake in shares of Renasant by 0.4% during the second quarter. Resolute Wealth Strategies LLC now owns 77,499 shares of the financial services provider’s stock worth $2,785,000 after purchasing an additional 318 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Renasant by 42.8% in the third quarter. PNC Financial Services Group Inc. now owns 1,152 shares of the financial services provider’s stock valued at $42,000 after buying an additional 345 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Renasant by 68.7% in the third quarter. EverSource Wealth Advisors LLC now owns 857 shares of the financial services provider’s stock valued at $32,000 after buying an additional 349 shares during the last quarter. Finally, Kestra Private Wealth Services LLC raised its stake in Renasant by 1.1% in the third quarter. Kestra Private Wealth Services LLC now owns 35,729 shares of the financial services provider’s stock valued at $1,318,000 after buying an additional 375 shares in the last quarter. Institutional investors and hedge funds own 77.31% of the company’s stock.

Renasant Company Profile

Renasant Corporation is a financial holding company providing banking and related services through its primary subsidiary, Renasant Bank. With origins dating back to 1904 in Tupelo, Mississippi, the company offers a comprehensive suite of commercial and consumer banking products, including deposit accounts, lending and treasury management services. Renasant serves individuals, small businesses and corporate clients across the southeastern United States.

The company operates more than 110 banking offices across Mississippi, Alabama, Tennessee, Florida and Georgia, supplemented by a network of ATMs and digital platforms.