Allen Mooney & Barnes Investment Advisors LLC Buys Shares of 10,103 Renasant Co. $RNST

by · The Cerbat Gem

Allen Mooney & Barnes Investment Advisors LLC bought a new stake in shares of Renasant Co. (NASDAQ:RNST – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,103 shares of the financial services provider’s stock, valued at approximately $363,000.

Several other large investors have also modified their holdings of the business. Corebridge Financial Inc. boosted its position in shares of Renasant by 0.8% during the first quarter. Corebridge Financial Inc. now owns 33,583 shares of the financial services provider’s stock valued at $1,139,000 after buying an additional 281 shares during the period. HighTower Advisors LLC boosted its position in shares of Renasant by 2.8% during the first quarter. HighTower Advisors LLC now owns 11,825 shares of the financial services provider’s stock valued at $401,000 after buying an additional 322 shares during the period. CWM LLC boosted its position in shares of Renasant by 42.7% during the first quarter. CWM LLC now owns 1,330 shares of the financial services provider’s stock valued at $45,000 after buying an additional 398 shares during the period. Sheets Smith Wealth Management boosted its position in shares of Renasant by 4.9% during the first quarter. Sheets Smith Wealth Management now owns 13,081 shares of the financial services provider’s stock valued at $444,000 after buying an additional 610 shares during the period. Finally, Resolute Wealth Strategies LLC boosted its position in shares of Renasant by 0.9% during the first quarter. Resolute Wealth Strategies LLC now owns 77,181 shares of the financial services provider’s stock valued at $2,619,000 after buying an additional 653 shares during the period. Hedge funds and other institutional investors own 77.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RNST. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Renasant in a research note on Wednesday, July 23rd. Hovde Group lifted their price target on shares of Renasant from $35.00 to $39.00 and gave the company a “market perform” rating in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Renasant currently has an average rating of “Moderate Buy” and a consensus target price of $41.67.

Check Out Our Latest Analysis on Renasant

Renasant Stock Performance

Shares of NASDAQ:RNST opened at $38.73 on Monday. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 11.84 and a beta of 0.93. Renasant Co. has a 52 week low of $26.97 and a 52 week high of $40.40. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average of $37.92 and a 200 day moving average of $35.20.

Renasant Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a yield of 2.3%. Renasant’s payout ratio is 34.65%.

Renasant Company Profile

(Free Report)

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.

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