Renasant Corporation (NASDAQ:RNST) announced a quarterly dividend on Friday, September 1st, Wall Street Journal reports. Shareholders of record on Friday, September 15th will be paid a dividend of 0.18 per share by the financial services provider on Friday, September 29th. This represents a $0.72 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Thursday, September 14th.
Shares of Renasant Corporation (NASDAQ RNST) traded up 0.37% during trading on Wednesday, hitting $40.39. 37,978 shares of the stock were exchanged. The stock’s 50 day moving average price is $40.07 and its 200 day moving average price is $41.35. Renasant Corporation has a 52 week low of $32.51 and a 52 week high of $45.32. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 18.22 and a beta of 1.06.
Renasant Corporation (NASDAQ:RNST) last issued its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.04. The firm had revenue of $113.87 million for the quarter, compared to analyst estimates of $112.43 million. Renasant Corporation had a net margin of 20.31% and a return on equity of 8.31%. During the same quarter in the prior year, the firm earned $0.59 EPS. On average, equities analysts predict that Renasant Corporation will post $2.35 earnings per share for the current year.
RNST has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods set a $43.00 price target on shares of Renasant Corporation and gave the stock a “hold” rating in a report on Saturday, May 27th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $44.00 price objective on shares of Renasant Corporation in a research note on Friday, June 9th. ValuEngine raised shares of Renasant Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Zacks Investment Research raised shares of Renasant Corporation from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Tuesday, July 4th. Finally, BidaskClub cut shares of Renasant Corporation from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $44.00.
In other news, Director Fred F. Sharpe purchased 2,000 shares of the company’s stock in a transaction on Friday, July 28th. The stock was acquired at an average price of $42.33 per share, with a total value of $84,660.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael D. Shmerling purchased 1,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were purchased at an average cost of $41.50 per share, with a total value of $41,500.00. Following the transaction, the director now directly owns 156,347 shares in the company, valued at $6,488,400.50. The disclosure for this purchase can be found here. Insiders bought a total of 9,023 shares of company stock valued at $375,621 in the last ninety days. 3.86% of the stock is 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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