Kelly Hutcheson Sells 1,310 Shares of Renasant Co. (NASDAQ:RNST) Stock

On February 21st, Kelly Hutcheson, the Chief Accounting Officer (CAO) of Renasant Co. (NASDAQ:RNST - Get Free Report), sold a total of 1,310 shares of the company's stock. The shares were sold at an average price of $36.72 each, resulting in a total transaction value of $48,103.20. After this sale, Hutcheson now directly holds 17,586 shares of Renasant, which are valued at approximately $645,757.92. This transaction represents a 6.93% reduction in Hutcheson's ownership of the company's stock. The details of this sale have been filed with the SEC, and the public can access this information through the SEC's website.

Recent Performance of Renasant Stock

As of Monday, Renasant's stock increased by 0.6%, with shares trading at $36.92. The trading volume reached 82,512 shares, which is lower compared to the average volume of 520,338 shares. The company has recorded a fifty-day simple moving average of $36.75 and a two-hundred-day simple moving average of $35.19. Renasant Co. holds a market capitalization of $2.35 billion, a price-to-earnings (P/E) ratio of 11.27, and a beta value of 1.03. Over the past year, the stock has fluctuated, reaching a low of $27.98 and a high of $39.63. The debt-to-equity ratio stands at 0.16, with a current ratio of 0.96 and a quick ratio of 0.94.

Dividend Information from Renasant

Recently, Renasant announced a quarterly dividend that will be issued on March 31st. Shareholders who are on record as of March 17th will receive a dividend of $0.22 per share. This indicates an annualized dividend of $0.88 and results in a dividend yield of 2.38%. The ex-dividend date is also set for March 17th. As of now, Renasant's dividend payout ratio is approximately 26.91%.

Analysts’ Price Target Adjustments

Several equity analysts have recently made updates regarding Renasant's stock. Keefe, Bruyette & Woods maintained an "outperform" rating and increased their price target from $45.00 to $46.00 on January 30th. Meanwhile, Hovde Group lowered their rating from "outperform" to "market perform" in a report dated November 13th. Piper Sandler has raised their target price from $41.00 to $44.00 and assigned an "overweight" rating. On the other hand, StockNews.com dropped Renasant's rating from "hold" to "sell." Additionally, Raymond James reaffirmed an "outperform" rating with a new price objective of $44.00, up from $40.00. In summary, one analyst has issued a sell rating, two have designated a hold rating, and four analysts recommend buying the stock. According to data from MarketBeat, Renasant currently holds a consensus rating of "Hold" with an average price target of $42.83.

Institutional Trading Activity

Recently, various institutional investors have adjusted their positions in Renasant. For instance, Mutual of America Capital Management LLC increased its holdings by 3.2% in the third quarter, currently owning 9,560 shares worth around $311,000 after purchasing 300 additional shares. HighTower Advisors LLC boosted its position by 3.4% in the fourth quarter for a total of 11,503 shares valued at $411,000. Similarly, Bank of Montreal Can raised its stake by 4.1% to a total of 9,619 shares worth $344,000. Arizona State Retirement System increased its shares by 2.4% to now own 18,445 shares valued at $659,000. Lastly, Sheets Smith Wealth Management expanded its share count by 3.6%, holding 12,471 shares valued at $446,000. Presently, approximately 77.31% of Renasant's stock is owned by institutional investors and hedge funds.

About Renasant Co.

Renasant Corporation operates as a bank holding company for Renasant Bank, providing a variety of financial services, wealth management, fiduciary services, and insurance offerings to both retail and commercial customers. The company operates in three primary segments: Community Banks, Insurance, and Wealth Management. Within the Community Banks segment, Renasant offers services such as checking and savings accounts, business and personal loans, asset-based lending, factoring, equipment leasing, and safe deposit box facilities.

Renasant, Stock, Sale, Dividend, Trading