Renasant Corporation (NASDAQ:RNST) announced a quarterly dividend on Friday, November 17th, Wall Street Journal reports. Investors of record on Friday, December 15th will be given a dividend of 0.19 per share by the financial services provider on Tuesday, January 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Thursday, December 14th. This is a positive change from Renasant Corporation’s previous quarterly dividend of $0.18.
Shares of Renasant Corporation (RNST) opened at $40.80 on Friday. Renasant Corporation has a 1-year low of $37.68 and a 1-year high of $45.31. The company has a current ratio of 0.93, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14. The stock has a market cap of $2,013.25, a P/E ratio of 17.22 and a beta of 1.00.
Renasant Corporation (NASDAQ:RNST) last released its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.08). Renasant Corporation had a net margin of 20.44% and a return on equity of 8.15%. The firm had revenue of $123.43 million for the quarter, compared to analyst estimates of $127.07 million. During the same quarter in the prior year, the firm earned $0.59 EPS. analysts forecast that Renasant Corporation will post 2.33 EPS for the current fiscal year.
A number of research firms have recently issued reports on RNST. Zacks Investment Research upgraded shares of Renasant Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. ValuEngine lowered shares of Renasant Corporation from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Keefe, Bruyette & Woods restated a “hold” rating and set a $43.00 price target on shares of Renasant Corporation in a report on Friday, September 29th. Finally, BidaskClub lowered shares of Renasant Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Renasant Corporation currently has an average rating of “Hold” and a consensus target price of $44.00.
In other Renasant Corporation news, Director J Niles Mcneel sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $42.39, for a total value of $423,900.00. Following the transaction, the director now owns 29,921 shares in the company, valued at approximately $1,268,351.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael D. Shmerling acquired 1,000 shares of the company’s stock in a transaction on Friday, November 10th. The stock was bought at an average price of $39.40 per share, for a total transaction of $39,400.00. Following the purchase, the director now owns 157,347 shares in the company, valued at approximately $6,199,471.80. The disclosure for this purchase can be found here. 3.86% of the stock is currently owned by corporate insiders.
Renasant Corporation Company Profile
Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance). The Company’s segments include Community Banks, which delivers a range of banking and financial services to individuals and small to medium-sized businesses, including checking and savings accounts, business and personal loans, equipment leasing, as well as safe deposit and night depository facilities; Insurance, which includes a full service insurance agency offering all lines of commercial and personal insurance through major carriers; Wealth Management, which offers a range of fiduciary services that includes the administration and management of trust accounts, including personal and corporate benefit accounts, and custodial accounts, and Other.
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