Kelly Hutcheson Sells 1,310 Shares of Renasant Co. (NASDAQ:RNST) Stock

Renasant Co. (NASDAQ:RNST) CAO Kelly Hutcheson sold 1,310 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $36.72, for a total transaction of $48,103.20. Following the transaction, the chief accounting officer now owns 17,586 shares of the company’s stock, valued at $645,757.92. This represents a 6.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Renasant Trading Up 0.2 %

Shares of Renasant stock opened at $36.30 on Wednesday. Renasant Co. has a 1 year low of $27.98 and a 1 year high of $39.63. The firm has a market cap of $2.31 billion, a PE ratio of 11.10 and a beta of 1.03. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94. The company has a 50 day simple moving average of $36.72 and a two-hundred day simple moving average of $35.25.

Renasant Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.22 per share. The ex-dividend date is Monday, March 17th. This represents a $0.88 annualized dividend and a yield of 2.42%. Renasant’s payout ratio is presently 26.91%.

Analyst Ratings Changes

RNST has been the subject of a number of analyst reports. Raymond James restated an “outperform” rating and issued a $44.00 price objective (up from $40.00) on shares of Renasant in a research report on Thursday, January 30th. Hovde Group lowered shares of Renasant from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 13th. StockNews.com lowered shares of Renasant from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Piper Sandler raised their price objective on shares of Renasant from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $46.00 price objective (up from $45.00) on shares of Renasant in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Renasant currently has an average rating of “Hold” and an average price target of $42.83.

Institutional Investors Weigh In On Renasant

Several hedge funds have recently bought and sold shares of RNST. William Blair Investment Management LLC purchased a new position in shares of Renasant during the fourth quarter worth approximately $36,987,000. Jennison Associates LLC raised its stake in shares of Renasant by 204.9% during the fourth quarter. Jennison Associates LLC now owns 1,173,801 shares of the financial services provider’s stock worth $41,963,000 after acquiring an additional 788,762 shares in the last quarter. State Street Corp raised its stake in shares of Renasant by 26.5% during the third quarter. State Street Corp now owns 3,369,915 shares of the financial services provider’s stock worth $109,522,000 after acquiring an additional 705,344 shares in the last quarter. Deprince Race & Zollo Inc. raised its stake in shares of Renasant by 63.9% during the fourth quarter. Deprince Race & Zollo Inc. now owns 1,283,577 shares of the financial services provider’s stock worth $45,888,000 after acquiring an additional 500,193 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Renasant by 376.5% during the fourth quarter. Bank of America Corp DE now owns 605,303 shares of the financial services provider’s stock worth $21,640,000 after acquiring an additional 478,266 shares in the last quarter. 77.31% of the stock is currently owned by institutional investors.

Renasant Company 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.