California State Teachers Retirement System Has $3.96 Million Stake in Renasant Corp $RNST

California State Teachers Retirement System grew its position in Renasant Corp (NYSE:RNST) by 21.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 109,738 shares of the company’s stock after purchasing an additional 19,083 shares during the period. California State Teachers Retirement System’s holdings in Renasant were worth $3,965,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. First Horizon Corp grew its holdings in shares of Renasant by 56.3% during the fourth quarter. First Horizon Corp now owns 1,080 shares of the company’s stock worth $38,000 after buying an additional 389 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Renasant by 42.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,152 shares of the company’s stock worth $42,000 after acquiring an additional 345 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Renasant by 241.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,226 shares of the company’s stock worth $43,000 after acquiring an additional 867 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Renasant during the 4th quarter worth approximately $60,000. Finally, State of Wyoming grew its stake in shares of Renasant by 31.8% during the 4th quarter. State of Wyoming now owns 1,832 shares of the company’s stock worth $65,000 after acquiring an additional 442 shares in the last quarter. 77.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Renasant news, Director Albert J. Dale III sold 1,650 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $39.80, for a total value of $65,670.00. Following the completion of the sale, the director owned 40,075 shares in the company, valued at $1,594,985. This trade represents a 3.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Edward Robinson Mcgraw sold 35,000 shares of Renasant stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $43.88, for a total transaction of $1,535,800.00. Following the completion of the transaction, the director directly owned 211,458 shares of the company’s stock, valued at approximately $9,278,777.04. This trade represents a 14.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 50,611 shares of company stock valued at $2,154,689 in the last ninety days. Corporate insiders own 2.07% of the company’s stock.

Renasant Stock Down 1.3%

RNST stock opened at $42.73 on Friday. The company has a market cap of $3.94 billion, a price-to-earnings ratio of 12.79 and a beta of 0.98. Renasant Corp has a twelve month low of $33.04 and a twelve month high of $44.54. The business has a 50 day moving average price of $42.59 and a two-hundred day moving average price of $40.08. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.21.

Renasant (NYSE:RNST) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. The company had revenue of $573.62 million for the quarter, compared to analysts’ expectations of $280.71 million. Renasant had a return on equity of 8.67% and a net margin of 19.94%.During the same quarter in the prior year, the business posted $0.01 EPS. Analysts anticipate that Renasant Corp will post 3.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Hovde Group boosted their price objective on shares of Renasant from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Piper Sandler raised their target price on shares of Renasant from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. TD Cowen lifted their price target on shares of Renasant from $48.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Renasant in a research report on Friday, June 5th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $47.67.

Renasant 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. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and equipment leasing services, as well as safe deposit and night depository facilities. It also provides commercial, financial, and agricultural loans; equipment financing and leasing; real estate?1-4 family mortgage; real estate?commercial mortgage; real estate?construction loans for the construction of single family residential properties, multi-family properties, and commercial projects; installment loans to individuals; and interim construction loans, as well as automated teller machine (ATM), online and mobile banking, call center, and treasury management services.