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

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

Renasant has raised its dividend payment by an average of 0.0%per year 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 Up 1.2%

RNST stock opened at $43.86 on Friday. Renasant has a 1-year low of $33.04 and a 1-year high of $44.54. The business’s 50 day simple moving average is $42.84 and its 200 day simple moving average is $40.26. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $4.01 billion, a PE ratio of 13.13 and a beta of 0.98.

Renasant (NYSE:RNST) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.03. Renasant had a return on equity of 8.67% and a net margin of 19.94%.The business had revenue of $573.62 million during the quarter, compared to the consensus estimate of $280.71 million. During the same quarter last year, the firm posted $0.01 EPS. As a group, research analysts anticipate that Renasant will post 3.79 EPS for the current year.

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.