Renasant Corp (RNST) to Issue Quarterly Dividend of $0.24 on June 30th

Renasant Corp (NYSE:RNST) announced a quarterly dividend on Tuesday, April 28th. Stockholders of record on Tuesday, June 16th will be paid a dividend of 0.24 per share on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, June 16th. This is a 4.3% increase from Renasant’s previous quarterly dividend of $0.23.

Renasant has raised its dividend by an average of 0.0%per year over the last three years. Renasant has a dividend payout ratio of 28.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Renasant to earn $4.00 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 24.0%.

Renasant Trading Up 1.2%

Shares of Renasant stock opened at $42.77 on Friday. Renasant has a 12-month low of $33.04 and a 12-month high of $43.13. The stock has a market cap of $3.95 billion, a P/E ratio of 17.75 and a beta of 0.97. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $40.02 and its 200-day moving average is $38.17.

Renasant (NYSE:RNST) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.09. Renasant had a return on equity of 8.17% and a net margin of 14.47%.The company had revenue of $278.49 million for the quarter, compared to analysts’ expectations of $275.71 million. During the same quarter in the prior year, the business posted $0.65 EPS. Equities research analysts predict that Renasant will post 3.73 earnings per share for the current fiscal 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.