American Century Companies Inc. purchased a new stake in Renasant Corp. (NASDAQ:RNST) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 66,614 shares of the financial services provider’s stock, valued at approximately $2,010,000. American Century Companies Inc. owned approximately 0.11% of Renasant at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc raised its position in Renasant by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 4,098,733 shares of the financial services provider’s stock valued at $168,909,000 after purchasing an additional 54,183 shares in the last quarter. Vanguard Group Inc. raised its position in Renasant by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,098,733 shares of the financial services provider’s stock valued at $168,909,000 after purchasing an additional 54,183 shares in the last quarter. BlackRock Inc. raised its position in Renasant by 8.9% in the 4th quarter. BlackRock Inc. now owns 3,630,777 shares of the financial services provider’s stock valued at $109,576,000 after purchasing an additional 297,791 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in Renasant in the 3rd quarter valued at about $44,809,000. Finally, Geode Capital Management LLC raised its position in Renasant by 8.7% in the 4th quarter. Geode Capital Management LLC now owns 574,644 shares of the financial services provider’s stock valued at $17,342,000 after purchasing an additional 46,102 shares in the last quarter. 61.10% of the stock is currently owned by institutional investors.
A number of research analysts have recently commented on the company. Zacks Investment Research downgraded Renasant from a “hold” rating to a “sell” rating in a report on Thursday, April 4th. BidaskClub downgraded Renasant from a “hold” rating to a “sell” rating in a report on Friday, March 22nd. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Renasant has an average rating of “Hold” and a consensus price target of $37.00.
Renasant (NASDAQ:RNST) last released its quarterly earnings data on Tuesday, January 22nd. The financial services provider reported $0.78 EPS for the quarter, meeting analysts’ consensus estimates of $0.78. Renasant had a return on equity of 8.85% and a net margin of 24.19%. The business had revenue of $151.83 million for the quarter, compared to the consensus estimate of $152.15 million. During the same quarter in the prior year, the business posted $0.33 EPS. On average, research analysts expect that Renasant Corp. will post 3.2 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.39%. Renasant’s payout ratio is currently 28.00%.
In other news, EVP James W. Gray sold 2,504 shares of the stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $38.33, for a total value of $95,978.32. Following the transaction, the executive vice president now owns 58,072 shares in the company, valued at approximately $2,225,899.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.64% of the company’s stock.
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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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