Renasant Corp. (NASDAQ:RNST) Director Fred F. Sharpe purchased 1,000 shares of Renasant stock in a transaction dated Monday, November 5th. The stock was bought at an average price of $35.45 per share, with a total value of $35,450.00. Following the completion of the purchase, the director now directly owns 13,676 shares of the company’s stock, valued at $484,814.20. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

Shares of NASDAQ RNST opened at $35.92 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.95 and a quick ratio of 0.92. The company has a market cap of $1.78 billion, a P/E ratio of 12.57 and a beta of 1.01. Renasant Corp. has a 12-month low of $32.01 and a 12-month high of $49.78.

Renasant (NASDAQ:RNST) last announced its earnings results on Monday, October 22nd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.01. The company had revenue of $138.90 million during the quarter, compared to analyst estimates of $142.06 million. Renasant had a net margin of 20.84% and a return on equity of 9.37%. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 earnings per share. Equities research analysts anticipate that Renasant Corp. will post 3.02 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Tuesday, December 18th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.34%. This is a positive change from Renasant’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, December 17th. Renasant’s payout ratio is 33.06%.

A number of analysts have recently commented on RNST shares. Stephens set a $50.00 price target on shares of Renasant and gave the stock a “hold” rating in a research note on Tuesday, October 23rd. ValuEngine lowered shares of Renasant from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Zacks Investment Research lowered shares of Renasant from a “hold” rating to a “sell” rating in a research report on Friday, July 13th. Finally, BidaskClub upgraded shares of Renasant from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 30th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $47.20.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Quadrant L P CA bought a new stake in Renasant during the third quarter valued at approximately $124,000. Adviser Investments LLC bought a new stake in Renasant during the second quarter valued at approximately $147,000. Zeke Capital Advisors LLC bought a new position in shares of Renasant in the second quarter worth approximately $211,000. Green Square Capital LLC bought a new position in shares of Renasant in the second quarter worth approximately $221,000. Finally, Trexquant Investment LP bought a new position in shares of Renasant in the third quarter worth approximately $265,000. Institutional investors own 67.85% of the company’s stock.

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Renasant Company Profile

Renasant Corporation operates as a bank holding company for Renasant Bank, which provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings, money market, individual retirement, and health savings accounts, as well as safe deposit and night depository facilities.

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