28,100 Shares in Renasant Co. (NASDAQ:RNST) Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new position in Renasant Co. (NASDAQ:RNST) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 28,100 shares of the financial services provider’s stock, valued at approximately $946,000. Louisiana State Employees Retirement System owned 0.05% of Renasant at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RNST. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Renasant by 5.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,202 shares of the financial services provider’s stock valued at $849,000 after acquiring an additional 1,315 shares during the period. Park Place Capital Corp lifted its holdings in shares of Renasant by 1.7% during the fourth quarter. Park Place Capital Corp now owns 113,158 shares of the financial services provider’s stock valued at $3,811,000 after acquiring an additional 1,837 shares during the period. Ballew Advisors Inc lifted its holdings in shares of Renasant by 43.8% during the fourth quarter. Ballew Advisors Inc now owns 11,131 shares of the financial services provider’s stock valued at $343,000 after acquiring an additional 3,389 shares during the period. Brookstone Capital Management bought a new position in shares of Renasant during the fourth quarter valued at $211,000. Finally, Ignite Planners LLC lifted its holdings 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 valued at $626,000 after acquiring an additional 1,382 shares during the period. 77.31% of the stock is owned by institutional investors.

Renasant Price Performance

Shares of RNST stock opened at $30.00 on Friday. The stock has a 50-day moving average price of $30.31 and a 200 day moving average price of $29.87. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.19. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 12.20 and a beta of 1.03. Renasant Co. has a 12 month low of $22.99 and a 12 month high of $34.85.

Renasant (NASDAQ:RNST) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. The firm had revenue of $254.56 million during the quarter, compared to analyst estimates of $159.60 million. Renasant had a return on equity of 7.50% and a net margin of 14.67%. During the same period last year, the company earned $0.82 earnings per share. Research analysts expect that Renasant Co. will post 2.63 EPS for the current year.

Renasant Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.88 dividend on an annualized basis and a yield of 2.93%. Renasant’s payout ratio is 35.77%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised their target price on Renasant from $34.00 to $35.00 and gave the company a “market perform” rating in a research note on Tuesday, January 30th. StockNews.com lowered Renasant from a “hold” rating to a “sell” rating in a research note on Friday, April 19th. Truist Financial lowered their target price on Renasant from $35.00 to $33.00 and set a “hold” rating for the company in a research note on Monday, April 1st. Finally, Stephens raised their target price on Renasant from $36.00 to $37.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $33.00.

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.