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 that occurred on Friday, February 21st. The shares were sold at an average price of $36.72, for a total transaction of $48,103.20. Following the sale, the chief accounting officer now directly owns 17,586 shares of the company’s stock, valued at $645,757.92. The trade was a 6.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Renasant Trading Down 1.2 %

NASDAQ RNST opened at $36.24 on Tuesday. The stock has a market cap of $2.30 billion, a P/E ratio of 11.08 and a beta of 1.03. Renasant Co. has a 12-month low of $27.98 and a 12-month high of $39.63. The company has a fifty day simple moving average of $36.73 and a two-hundred day simple moving average of $35.22. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16.

Renasant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.22 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.43%. Renasant’s payout ratio is currently 26.91%.

Analysts Set New Price Targets

RNST has been the subject of a number of analyst reports. Stephens increased their target price on shares of Renasant from $44.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. StockNews.com cut shares of Renasant from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Hovde Group cut shares of Renasant from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 13th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $46.00 price target (up previously from $45.00) on shares of Renasant in a report on Thursday, January 30th. Finally, Piper Sandler raised their price target on shares of Renasant from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. 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 data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $42.83.

Institutional Trading of Renasant

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Renasant by 17.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 166,033 shares of the financial services provider’s stock worth $5,936,000 after acquiring an additional 24,897 shares during the period. Waverly Advisors LLC increased its stake in shares of Renasant by 25.0% in the fourth quarter. Waverly Advisors LLC now owns 42,861 shares of the financial services provider’s stock worth $1,532,000 after acquiring an additional 8,562 shares during the period. Squarepoint Ops LLC increased its stake in shares of Renasant by 9.1% in the fourth quarter. Squarepoint Ops LLC now owns 50,503 shares of the financial services provider’s stock worth $1,805,000 after acquiring an additional 4,221 shares during the period. Two Sigma Advisers LP increased its stake in shares of Renasant by 5.7% in the fourth quarter. Two Sigma Advisers LP now owns 120,100 shares of the financial services provider’s stock worth $4,294,000 after acquiring an additional 6,500 shares during the period. Finally, Teza Capital Management LLC acquired a new stake in shares of Renasant in the fourth quarter worth $516,000. Institutional investors and hedge funds own 77.31% of the company’s stock.

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.