Renasant Corp. (NASDAQ:RNST) announced a quarterly dividend on Monday, March 11th, RTT News reports. Investors of record on Thursday, March 21st will be paid a dividend of 0.21 per share by the financial services provider on Friday, March 29th. This represents a $0.84 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Wednesday, March 20th.
Renasant has raised its dividend payment by an average of 4.7% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Renasant has a payout ratio of 28.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Renasant to earn $3.36 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 25.0%.
RNST opened at $37.80 on Friday. Renasant has a twelve month low of $28.02 and a twelve month high of $49.78. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.95 and a quick ratio of 0.91. The company has a market capitalization of $2.19 billion, a P/E ratio of 12.60 and a beta of 1.24.
Renasant (NASDAQ:RNST) last posted its earnings results on Tuesday, January 22nd. The financial services provider reported $0.78 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.78. Renasant had a return on equity of 8.85% and a net margin of 24.19%. The firm had revenue of $151.83 million during the quarter, compared to analyst estimates of $152.15 million. During the same period in the previous year, the company earned $0.33 EPS. Equities analysts expect that Renasant will post 3.21 earnings per share for the current year.
Several equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Renasant from a “sell” rating to a “hold” rating in a report on Wednesday, January 9th. Stephens restated a “hold” rating and issued a $36.00 target price on shares of Renasant in a report on Wednesday, December 19th. BidaskClub upgraded Renasant from a “strong sell” rating to a “sell” rating in a report on Monday, January 21st. Finally, Hovde Group restated a “market perform” rating and issued a $38.00 target price (up from $34.00) on shares of Renasant in a report on Monday, January 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $41.00.
In other news, EVP James W. Gray sold 2,504 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 58,072 shares in the company, valued at $2,225,899.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.41% of the stock is owned by insiders.
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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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