J.W. Cole Advisors Inc. Purchases Shares of 7,127 Renasant Co. (NASDAQ:RNST)

J.W. Cole Advisors Inc. purchased a new stake in Renasant Co. (NASDAQ:RNST) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,127 shares of the financial services provider’s stock, valued at approximately $240,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Resolute Wealth Strategies LLC increased its position in shares of Renasant by 0.6% during the third quarter. Resolute Wealth Strategies LLC now owns 75,058 shares of the financial services provider’s stock worth $1,966,000 after buying an additional 435 shares during the period. Covestor Ltd increased its position in shares of Renasant by 26.6% during the third quarter. Covestor Ltd now owns 2,204 shares of the financial services provider’s stock worth $58,000 after buying an additional 463 shares during the period. Watershed Asset Management L.L.C. increased its position in shares of Renasant by 8.2% during the third quarter. Watershed Asset Management L.L.C. now owns 8,957 shares of the financial services provider’s stock worth $235,000 after buying an additional 680 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position 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 worth $849,000 after buying an additional 1,315 shares during the period. Finally, Ignite Planners LLC increased its position 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 worth $626,000 after buying an additional 1,382 shares during the period. 77.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on RNST shares. Truist Financial decreased their price objective on shares of Renasant from $35.00 to $33.00 and set a “hold” rating for the company in a research report on Monday, April 1st. Stephens increased their price objective on shares of Renasant from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. StockNews.com cut shares of Renasant from a “hold” rating to a “sell” rating in a report on Friday, April 19th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Renasant from $34.00 to $35.00 and gave the stock a “market perform” rating in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, Renasant presently has an average rating of “Hold” and a consensus target price of $33.00.

Renasant Trading Down 2.2 %

NASDAQ:RNST opened at $30.00 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 10.25 and a beta of 1.03. The firm has a fifty day simple moving average of $30.31 and a two-hundred day simple moving average of $29.87. Renasant Co. has a 12 month low of $22.99 and a 12 month high of $34.85.

Renasant (NASDAQ:RNST) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. Renasant had a net margin of 14.67% and a return on equity of 7.44%. The firm had revenue of $254.56 million for the quarter, compared to analyst estimates of $159.60 million. During the same period last year, the firm earned $0.82 earnings per share. Analysts expect that Renasant Co. will post 2.63 EPS for the current fiscal year.

Renasant Dividend Announcement

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

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.