Brighton Jones LLC Invests $335,000 in Renasant Corp. (RNST)

Brighton Jones LLC bought a new stake in shares of Renasant Corp. (NASDAQ:RNST) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 9,887 shares of the financial services provider’s stock, valued at approximately $335,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY grew its stake in shares of Renasant by 356.5% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 15,648 shares of the financial services provider’s stock valued at $472,000 after buying an additional 12,220 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in Renasant by 38.2% during the 4th quarter. Great West Life Assurance Co. Can now owns 6,697 shares of the financial services provider’s stock valued at $194,000 after acquiring an additional 1,850 shares in the last quarter. BancorpSouth Bank boosted its position in Renasant by 133.6% during the 4th quarter. BancorpSouth Bank now owns 120,815 shares of the financial services provider’s stock valued at $3,646,000 after acquiring an additional 69,091 shares in the last quarter. Vanguard Group Inc. boosted its position in Renasant by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,098,733 shares of the financial services provider’s stock valued at $168,909,000 after acquiring an additional 54,183 shares in the last quarter. Finally, MetLife Investment Advisors LLC boosted its position in Renasant by 55.2% during the 3rd quarter. MetLife Investment Advisors LLC now owns 34,380 shares of the financial services provider’s stock valued at $1,417,000 after acquiring an additional 12,222 shares in the last quarter. 61.07% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP James W. Gray sold 2,504 shares of the stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $38.33, for a total transaction of $95,978.32. Following the completion of the sale, the executive vice president now owns 58,072 shares in the company, valued at approximately $2,225,899.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.64% of the company’s stock.

NASDAQ RNST traded up $0.37 during midday trading on Friday, hitting $35.46. 2,707 shares of the company traded hands, compared to its average volume of 203,487. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $2.02 billion, a PE ratio of 11.71 and a beta of 1.22. Renasant Corp. has a 52 week low of $28.02 and a 52 week high of $49.78.

Renasant (NASDAQ:RNST) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.77. Renasant had a return on equity of 9.02% and a net margin of 24.55%. The business had revenue of $150.50 million for the quarter, compared to analysts’ expectations of $150.40 million. During the same quarter last year, the firm earned $0.70 EPS. The business’s revenue for the quarter was up 20.6% on a year-over-year basis. On average, equities analysts predict that Renasant Corp. will post 3.2 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Thursday, June 13th. This is a positive change from Renasant’s previous quarterly dividend of $0.21. Renasant’s dividend payout ratio is currently 28.00%.

RNST has been the topic of several recent research reports. BidaskClub raised Renasant from a “strong sell” rating to a “sell” rating in a research report on Monday, January 21st. Zacks Investment Research cut Renasant from a “hold” rating to a “sell” rating in a research report on Tuesday, February 19th. Finally, Stephens set a $36.00 target price on Renasant and gave the company a “hold” rating in a research report on Tuesday, January 22nd. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company has an average rating of “Hold” and a consensus price target of $37.00.

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Renasant Company Profile

Renasant Corporation operates as a bank holding company for Renasant Bank, which 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, money market, individual retirement, and health savings accounts, as well as safe deposit and night depository facilities.

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Institutional Ownership by Quarter for Renasant (NASDAQ:RNST)

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