Fisher Asset Management LLC Has $14.80 Million Stock Position in Renasant Co. (NASDAQ:RNST)

Fisher Asset Management LLC grew its position in Renasant Co. (NASDAQ:RNST) by 47.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 414,108 shares of the financial services provider’s stock after buying an additional 134,000 shares during the quarter. Fisher Asset Management LLC’s holdings in Renasant were worth $14,804,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in RNST. Jennison Associates LLC lifted its position in shares of Renasant by 204.9% in the fourth quarter. Jennison Associates LLC now owns 1,173,801 shares of the financial services provider’s stock worth $41,963,000 after purchasing an additional 788,762 shares in the last quarter. State Street Corp lifted its position in shares of Renasant by 26.5% in the third quarter. State Street Corp now owns 3,369,915 shares of the financial services provider’s stock worth $109,522,000 after purchasing an additional 705,344 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of Renasant in the third quarter worth approximately $15,009,000. Stieven Capital Advisors L.P. purchased a new stake in shares of Renasant in the third quarter worth approximately $11,981,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Renasant by 61.9% in the third quarter. The Manufacturers Life Insurance Company now owns 652,292 shares of the financial services provider’s stock worth $21,199,000 after purchasing an additional 249,331 shares in the last quarter. 77.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Renasant

In other Renasant news, CAO Kelly Hutcheson sold 1,310 shares of the stock in a transaction that occurred on 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 in the company, valued at $645,757.92. This trade represents a 6.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.82% of the company’s stock.

Renasant Trading Down 0.7 %

Shares of RNST stock opened at $35.95 on Tuesday. Renasant Co. has a 12 month low of $27.98 and a 12 month high of $39.63. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average is $36.79 and its two-hundred day moving average is $35.36. The company has a market cap of $2.29 billion, a PE ratio of 10.99 and a beta of 1.03.

Renasant Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.88 annualized dividend and a yield of 2.45%. Renasant’s dividend payout ratio (DPR) is presently 26.91%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Hovde Group lowered shares of Renasant from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 13th. Raymond James reaffirmed an “outperform” rating and set a $44.00 price objective (up previously from $40.00) on shares of Renasant in a research report on Thursday, January 30th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $46.00 price objective (up previously from $45.00) on shares of Renasant in a research report on Thursday, January 30th. 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, StockNews.com lowered shares of Renasant from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $42.83.

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.