R Rick Hart Sold 5,304 Shares of Renasant Corp. (RNST) Shares

R Rick Hart Sold 5,304 Shares of Renasant Corp. (RNST) Shares

Renasant Corp. (NASDAQ:RNST) EVP R Rick Hart sold 5,304 shares of Renasant Corp. stock in a transaction on Friday, March 17th. The shares were sold at an average price of $40.70, for a total value of $215,872.80. Following the sale, the executive vice president now directly owns 77,718 shares of the company’s stock, valued at $3,163,122.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Renasant Corp. (NASDAQ:RNST) opened at 38.39 on Wednesday. Renasant Corp. has a 52-week low of $30.21 and a 52-week high of $44.65. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 17.69 and a beta of 1.02. The stock has a 50 day moving average price of $40.67 and a 200 day moving average price of $38.44.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be given a dividend of $0.18 per share. The ex-dividend date is Wednesday, March 15th. This represents a $0.72 annualized dividend and a dividend yield of 1.88%. Renasant Corp.’s dividend payout ratio is currently 33.33%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. raised its position in Renasant Corp. by 26.5% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 4,300 shares of the financial services provider’s stock valued at $145,000 after buying an additional 900 shares in the last quarter. New York State Teachers Retirement System purchased a new position in Renasant Corp. during the fourth quarter valued at approximately $152,000. Sei Investments Co. raised its position in Renasant Corp. by 7.6% in the third quarter. Sei Investments Co. now owns 7,364 shares of the financial services provider’s stock valued at $248,000 after buying an additional 519 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Renasant Corp. by 4.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 6,490 shares of the financial services provider’s stock valued at $273,000 after buying an additional 302 shares in the last quarter. Finally, Boothbay Fund Management LLC purchased a new position in Renasant Corp. during the fourth quarter valued at approximately $275,000. Institutional investors and hedge funds own 59.29% of the company’s stock.

A number of equities research analysts have weighed in on the company. Zacks Investment Research lowered Renasant Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, December 13th. Jefferies Group LLC lowered Renasant Corp. from a “buy” rating to a “hold” rating and set a $41.00 target price for the company. in a research report on Monday, November 28th. Finally, Keefe, Bruyette & Woods lowered Renasant Corp. from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $37.00 to $43.00 in a research report on Tuesday, November 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $37.80.

About Renasant Corp.

Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance), a subsidiary of the Bank with operations in Mississippi. The Company operates through three segments: Community Banks segment, Insurance segment and Wealth Management segment.

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