Denali Advisors LLC acquired a new position in Renasant Corp. (NASDAQ:RNST) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,200 shares of the financial services provider’s stock, valued at approximately $95,000.

Several other institutional investors have also recently modified their holdings of the business. Provident Wealth Management LLC acquired a new position in shares of Renasant in the third quarter worth about $39,000. Principal Financial Group Inc. acquired a new position in shares of Renasant in the second quarter worth about $602,000. Charles Schwab Investment Management Inc. raised its position in shares of Renasant by 9.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 419,297 shares of the financial services provider’s stock worth $10,441,000 after acquiring an additional 36,609 shares during the period. Jane Street Group LLC acquired a new position in shares of Renasant in the second quarter worth about $428,000. Finally, Public Employees Retirement System of Ohio raised its position in shares of Renasant by 2.6% in the second quarter. Public Employees Retirement System of Ohio now owns 113,220 shares of the financial services provider’s stock worth $2,819,000 after acquiring an additional 2,829 shares during the period. Institutional investors and hedge funds own 68.98% of the company’s stock.

NASDAQ RNST traded down $0.06 during trading hours on Friday, hitting $27.09. 292,393 shares of the company’s stock traded hands, compared to its average volume of 350,879. Renasant Corp. has a 52-week low of $18.22 and a 52-week high of $36.84. The company has a market capitalization of $1.52 billion, a PE ratio of 15.84 and a beta of 1.35. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.97 and a quick ratio of 0.94. The firm’s 50-day moving average is $24.71 and its 200-day moving average is $24.05.

Renasant (NASDAQ:RNST) last announced its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.06. Renasant had a net margin of 14.07% and a return on equity of 5.62%. The company had revenue of $169.95 million during the quarter, compared to analysts’ expectations of $147.73 million. During the same quarter in the prior year, the company earned $0.82 EPS. Equities research analysts predict that Renasant Corp. will post 1.69 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were paid a $0.22 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $0.88 annualized dividend and a dividend yield of 3.25%. Renasant’s dividend payout ratio (DPR) is 30.24%.

A number of brokerages have weighed in on RNST. BidaskClub upgraded shares of Renasant from a “sell” rating to a “hold” rating in a research report on Tuesday, October 13th. SunTrust Banks reduced their price target on shares of Renasant from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Thursday, July 30th. Zacks Investment Research upgraded shares of Renasant from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 1st. DA Davidson downgraded shares of Renasant from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $28.50 to $27.00 in a research report on Tuesday, September 15th. Finally, Piper Sandler reduced their price target on shares of Renasant from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, September 30th. Eight equities research analysts have rated the stock with a hold rating, Renasant currently has an average rating of “Hold” and an average target price of $31.20.

About Renasant

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.

Featured Story: Should I follow buy, hold and sell recommendations?

Want to see what other hedge funds are holding RNST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Renasant Corp. (NASDAQ:RNST).

Institutional Ownership by Quarter for Renasant (NASDAQ:RNST)

Receive News & Ratings for Renasant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Renasant and related companies with MarketBeat.com's FREE daily email newsletter.