1,648,550 Shares in Renasant Co. $RNST Bought by Channing Capital Management LLC

Channing Capital Management LLC purchased a new position in shares of Renasant Co. (NASDAQ:RNST) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,648,550 shares of the financial services provider’s stock, valued at approximately $60,815,000. Channing Capital Management LLC owned approximately 1.73% of Renasant at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in RNST. Royal Bank of Canada boosted its position in shares of Renasant by 128.5% during the 1st quarter. Royal Bank of Canada now owns 52,238 shares of the financial services provider’s stock valued at $1,772,000 after acquiring an additional 29,380 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Renasant by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,167 shares of the financial services provider’s stock valued at $1,261,000 after purchasing an additional 1,621 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in shares of Renasant in the 1st quarter valued at approximately $67,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Renasant by 13.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 189,105 shares of the financial services provider’s stock worth $6,416,000 after buying an additional 23,072 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Renasant during the 1st quarter worth approximately $390,000. Institutional investors and hedge funds own 77.31% of the company’s stock.

Insider Buying and Selling

In other news, CFO James C. 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 sale, the chief financial officer directly owned 105,337 shares of the company’s stock, valued at $3,984,898.71. This represents a 10.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark Jeanfreau sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $37.88, for a total transaction of $227,280.00. Following the completion of the transaction, the executive vice president owned 65,172 shares of the company’s stock, valued at $2,468,715.36. This trade represents a 8.43% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.81% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RNST. Hovde Group upped their price target on Renasant from $41.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. TD Cowen reaffirmed a “buy” rating on shares of Renasant in a report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $43.00.

Renasant Price Performance

Shares of RNST stock opened at $40.54 on Friday. Renasant Co. has a 52 week low of $26.97 and a 52 week high of $42.11. The stock has a market capitalization of $3.85 billion, a PE ratio of 12.40 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.94 and a current ratio of 0.96. The stock’s fifty day moving average is $37.76 and its 200-day moving average is $36.88.

Renasant (NASDAQ:RNST) last released its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. Renasant had a return on equity of 6.58% and a net margin of 17.91%.The business had revenue of $216.11 million during the quarter, compared to analysts’ expectations of $275.40 million. During the same period in the previous year, the business posted $0.73 earnings per share. Equities research analysts expect that Renasant Co. will post 2.68 EPS for the current fiscal year.

About Renasant

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.