Renasant Co. (RNST) Increases Dividend to $0.20 Per Share

Renasant Co. (NASDAQ:RNST) declared a quarterly dividend on Wednesday, April 25th, Wall Street Journal reports. Shareholders of record on Saturday, June 16th will be given a dividend of 0.20 per share by the financial services provider on Saturday, June 30th. This represents a $0.80 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Thursday, June 14th. This is an increase from Renasant’s previous quarterly dividend of $0.19.

Shares of NASDAQ:RNST traded up $0.05 during trading on Wednesday, hitting $46.49. The company’s stock had a trading volume of 141,338 shares, compared to its average volume of 159,025. The company has a market cap of $2,263.68, a price-to-earnings ratio of 19.16 and a beta of 1.00. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.14. Renasant has a fifty-two week low of $37.68 and a fifty-two week high of $46.95.

Renasant (NASDAQ:RNST) last posted its quarterly earnings results on Tuesday, April 24th. The financial services provider reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.02. The business had revenue of $124.76 million during the quarter, compared to the consensus estimate of $124.21 million. Renasant had a net margin of 18.19% and a return on equity of 8.19%. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 earnings per share. analysts expect that Renasant will post 3 EPS for the current year.

Several equities research analysts have recently issued reports on the stock. BidaskClub raised shares of Renasant from a “hold” rating to a “buy” rating in a research report on Friday, March 9th. ValuEngine raised shares of Renasant from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Hilliard Lyons raised shares of Renasant from a “neutral” rating to a “buy” rating in a research report on Friday, February 9th. Zacks Investment Research raised shares of Renasant from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Wednesday, January 10th. Finally, Sandler O’Neill raised shares of Renasant from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Renasant has a consensus rating of “Buy” and an average target price of $46.00.

In related news, Director J Niles Mcneel sold 8,948 shares of the business’s stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $44.36, for a total value of $396,933.28. Following the completion of the sale, the director now directly owns 14,831 shares of the company’s stock, valued at $657,903.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP R Rick Hart sold 10,000 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $43.17, for a total transaction of $431,700.00. Following the completion of the sale, the executive vice president now directly owns 83,450 shares of the company’s stock, valued at $3,602,536.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,948 shares of company stock valued at $1,048,833. Corporate insiders own 3.41% of the company’s stock.

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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.

Dividend History for Renasant (NASDAQ:RNST)

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