Renasant (NASDAQ:RNST) Given New $44.00 Price Target at Piper Sandler

Renasant (NASDAQ:RNST) had its price objective hoisted by Piper Sandler from $41.00 to $44.00 in a research note released on Thursday,Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider’s stock.

A number of other research firms have also commented on RNST. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $45.00 price target on shares of Renasant in a research report on Tuesday, December 31st. Hovde Group downgraded Renasant from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Renasant currently has a consensus rating of “Hold” and a consensus price target of $42.83.

Renasant Trading Up 3.5 %

Renasant stock opened at $39.16 on Thursday. Renasant has a one year low of $27.98 and a one year high of $39.55. The company’s fifty day moving average price is $36.44 and its two-hundred day moving average price is $34.79. 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 market capitalization of $2.49 billion, a price-to-earnings ratio of 13.66 and a beta of 1.03.

Renasant Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Wednesday, December 18th were given a $0.22 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $0.88 annualized dividend and a yield of 2.25%. Renasant’s dividend payout ratio (DPR) is currently 26.91%.

Insiders Place Their Bets

In other Renasant news, Director John Creekmore sold 3,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $38.00, for a total value of $114,000.00. Following the transaction, the director now directly owns 24,057 shares in the company, valued at $914,166. The trade was a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.82% of the company’s stock.

Institutional Investors Weigh In On Renasant

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP increased its position in Renasant by 698.3% in the second quarter. Quarry LP now owns 934 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 817 shares during the period. KBC Group NV increased its holdings in Renasant by 32.0% in the third quarter. KBC Group NV now owns 2,457 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 596 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Renasant by 41.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,816 shares of the financial services provider’s stock valued at $147,000 after buying an additional 1,404 shares during the period. Creative Planning bought a new position in Renasant during the third quarter worth about $207,000. Finally, ZWJ Investment Counsel Inc. acquired a new position in shares of Renasant during the 4th quarter worth about $208,000. 77.31% of the stock is owned by institutional investors and hedge funds.

About Renasant

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.