Renasant Co. (NASDAQ:RNST) Shares Purchased by Ballew Advisors Inc

Ballew Advisors Inc boosted its position in shares of Renasant Co. (NASDAQ:RNST) by 43.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,131 shares of the financial services provider’s stock after buying an additional 3,389 shares during the period. Ballew Advisors Inc’s holdings in Renasant were worth $343,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brookstone Capital Management acquired a new position in Renasant in the 4th quarter valued at about $211,000. Ignite Planners LLC raised its stake in shares of Renasant by 8.0% during the fourth quarter. Ignite Planners LLC now owns 18,622 shares of the financial services provider’s stock worth $626,000 after purchasing an additional 1,382 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Renasant by 10.0% during the third quarter. Public Employees Retirement System of Ohio now owns 139,706 shares of the financial services provider’s stock worth $3,659,000 after purchasing an additional 12,741 shares during the period. American Century Companies Inc. increased its stake in Renasant by 20.8% in the 3rd quarter. American Century Companies Inc. now owns 58,901 shares of the financial services provider’s stock valued at $1,543,000 after buying an additional 10,162 shares during the period. Finally, Deutsche Bank AG raised its position in Renasant by 13.9% during the 3rd quarter. Deutsche Bank AG now owns 27,167 shares of the financial services provider’s stock worth $712,000 after buying an additional 3,317 shares during the last quarter. Hedge funds and other institutional investors own 77.31% of the company’s stock.

Renasant Price Performance

Shares of NASDAQ:RNST traded up $0.14 during midday trading on Thursday, hitting $31.25. 483,699 shares of the stock were exchanged, compared to its average volume of 242,716. The stock has a market cap of $1.76 billion, a P/E ratio of 12.11 and a beta of 1.03. Renasant Co. has a twelve month low of $22.99 and a twelve month high of $34.85. The company has a 50 day moving average price of $31.21 and a 200-day moving average price of $29.32. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.19.

Renasant (NASDAQ:RNST) last issued its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.12. The firm had revenue of $230.79 million during the quarter, compared to the consensus estimate of $160.63 million. Renasant had a return on equity of 7.98% and a net margin of 15.94%. During the same period in the previous year, the firm posted $0.89 EPS. On average, research analysts forecast that Renasant Co. will post 2.56 earnings per share for the current year.

Renasant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.82%. The ex-dividend date is Thursday, March 14th. Renasant’s payout ratio is 34.11%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RNST. StockNews.com upgraded shares of Renasant from a “sell” rating to a “hold” rating in a research note on Thursday, March 21st. Keefe, Bruyette & Woods raised their price target on Renasant from $34.00 to $35.00 and gave the company a “market perform” rating in a report on Tuesday, January 30th. Stephens increased their price objective on Renasant from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Finally, TheStreet upgraded shares of Renasant from a “c+” rating to a “b-” rating in a research report on Thursday, December 14th. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat, Renasant presently has a consensus rating of “Hold” and a consensus target price of $31.50.

Renasant Profile

Renasant Corporation operates as a bank holding company for Renasant Bank that provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. The company operates through Community Banks, Insurance, and Wealth Management segments. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and factoring equipment leasing services, as well as safe deposit and night depository facilities.