Renasant Corp (NYSE:RNST) Announces $0.24 Quarterly Dividend

Renasant Corp (NYSE:RNST) announced a quarterly dividend on Wednesday, August 12th. Shareholders of record on Wednesday, September 16th will be paid a dividend of 0.24 per share on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 16th.

Renasant has increased its dividend by an average of 0.0%annually over the last three years. Renasant has a payout ratio of 28.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Renasant to earn $3.94 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 24.4%.

Renasant Stock Performance

Shares of RNST opened at $43.86 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.91 and a quick ratio of 0.90. The firm’s 50 day moving average is $42.84 and its 200-day moving average is $40.26. Renasant has a 12-month low of $33.04 and a 12-month high of $44.54. The stock has a market capitalization of $4.01 billion, a P/E ratio of 13.13 and a beta of 0.98.

Renasant (NYSE:RNST) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.03. The company had revenue of $573.62 million during the quarter, compared to the consensus estimate 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 firm earned $0.01 EPS. Equities research analysts anticipate that Renasant will post 3.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Renasant Company 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.