Waverly Advisors LLC Purchases 6,771 Shares of Renasant Co. (NASDAQ:RNST)

Waverly Advisors LLC raised its position in Renasant Co. (NASDAQ:RNST) by 24.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 34,293 shares of the financial services provider’s stock after acquiring an additional 6,771 shares during the period. Waverly Advisors LLC owned about 0.06% of Renasant worth $1,074,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Texas Permanent School Fund Corp raised its stake in shares of Renasant by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 49,135 shares of the financial services provider’s stock worth $1,539,000 after purchasing an additional 637 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Renasant by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 11,153 shares of the financial services provider’s stock worth $349,000 after purchasing an additional 765 shares in the last quarter. GAMMA Investing LLC bought a new stake in Renasant in the 4th quarter valued at $25,000. New York State Common Retirement Fund raised its stake in Renasant by 0.3% in the 4th quarter. New York State Common Retirement Fund now owns 314,417 shares of the financial services provider’s stock valued at $10,590,000 after acquiring an additional 829 shares during the period. Finally, Atlantic Edge Private Wealth Management LLC bought a new stake in Renasant in the 4th quarter valued at $37,000. Institutional investors own 77.31% of the company’s stock.

Renasant Price Performance

Shares of RNST stock traded down $1.67 on Tuesday, hitting $34.28. 3,346,661 shares of the company’s stock were exchanged, compared to its average volume of 265,064. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.93 and a quick ratio of 0.92. The stock has a market cap of $1.93 billion, a P/E ratio of 14.65 and a beta of 1.03. Renasant Co. has a 12 month low of $22.99 and a 12 month high of $37.40. The company has a 50 day moving average of $31.08 and a 200 day moving average of $30.86.

Renasant (NASDAQ:RNST) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03. Renasant had a return on equity of 6.98% and a net margin of 15.04%. The company had revenue of $163.79 million during the quarter, compared to the consensus estimate of $166.05 million. During the same period last year, the company earned $0.83 earnings per share. The firm’s revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts predict that Renasant Co. will post 2.71 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RNST. Piper Sandler restated a “neutral” rating and issued a $33.00 price target on shares of Renasant in a research note on Wednesday, July 3rd. Truist Financial increased their price target on Renasant from $32.00 to $38.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Hovde Group cut Renasant from an “outperform” rating to a “market perform” rating and increased their price target for the company from $36.00 to $38.00 in a research note on Thursday, July 25th. StockNews.com raised Renasant from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. Finally, Keefe, Bruyette & Woods upped their price objective on Renasant from $34.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $36.40.

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.