James W. Gray Sells 5,000 Shares of Renasant Corp. (RNST) Stock

Renasant Corp. (NASDAQ:RNST) EVP James W. Gray sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $39.94, for a total transaction of $199,700.00. Following the completion of the transaction, the executive vice president now owns 43,604 shares in the company, valued at $1,741,543.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Renasant Corp. (NASDAQ RNST) traded up 0.1692% during midday trading on Monday, hitting $41.4901. 35,598 shares of the stock traded hands. Renasant Corp. has a 52 week low of $30.21 and a 52 week high of $44.65. The stock has a market capitalization of $1.84 billion, a P/E ratio of 18.9539 and a beta of 1.02. The firm has a 50-day moving average price of $41.75 and a 200-day moving average price of $41.03.

Renasant Corp. (NASDAQ:RNST) last released its quarterly earnings data on Tuesday, April 25th. The financial services provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. The company had revenue of $106.04 million during the quarter, compared to analyst estimates of $109.87 million. Renasant Corp. had a net margin of 19.50% and a return on equity of 8.75%. During the same quarter in the previous year, the business posted $0.54 EPS. On average, equities analysts predict that Renasant Corp. will post $2.23 earnings per share for the current fiscal year.

Insider Buying and Selling by Quarter for Renasant Corp. (NASDAQ:RNST)

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.72 annualized dividend and a dividend yield of 1.74%. Renasant Corp.’s dividend payout ratio is currently 33.33%.

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RNST has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Renasant Corp. from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Wednesday, April 12th. Jefferies Group LLC restated a “hold” rating and issued a $44.00 price objective on shares of Renasant Corp. in a report on Wednesday, April 5th. Finally, Keefe, Bruyette & Woods set a $43.00 target price on shares of Renasant Corp. and gave the company a “hold” rating in a research note on Saturday, May 27th.

Several hedge funds have recently added to or reduced their stakes in RNST. Goldman Sachs Group Inc. raised its stake in Renasant Corp. by 4.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,753,899 shares of the financial services provider’s stock valued at $69,612,000 after buying an additional 82,351 shares in the last quarter. Jane Street Group LLC bought a new stake in Renasant Corp. during the first quarter valued at $382,000. State Street Corp raised its stake in Renasant Corp. by 26.8% in the first quarter. State Street Corp now owns 1,171,052 shares of the financial services provider’s stock valued at $46,483,000 after buying an additional 247,806 shares in the last quarter. Bank of America Corp DE raised its stake in Renasant Corp. by 16.5% in the first quarter. Bank of America Corp DE now owns 218,335 shares of the financial services provider’s stock valued at $8,665,000 after buying an additional 30,969 shares in the last quarter. Finally, Dean Capital Management raised its stake in Renasant Corp. by 14.7% in the first quarter. Dean Capital Management now owns 65,770 shares of the financial services provider’s stock valued at $2,610,000 after buying an additional 8,450 shares in the last quarter. Institutional investors own 59.29% of the company’s stock.

Renasant Corp. Company Profile

Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance). The Company’s segments include Community Banks, which delivers a range of banking and financial services to individuals and small to medium-sized businesses, including checking and savings accounts, business and personal loans, equipment leasing, as well as safe deposit and night depository facilities; Insurance, which includes a full service insurance agency offering all lines of commercial and personal insurance through major carriers; Wealth Management, which offers a range of fiduciary services that includes the administration and management of trust accounts, including personal and corporate benefit accounts, and custodial accounts, and Other.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:RNST”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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