Renasant Corp. (NASDAQ:RNST) Announces $0.22 Quarterly Dividend
Renasant Corp. (NASDAQ:RNST) announced a quarterly dividend on Tuesday, August 27th, NASDAQ reports. Stockholders of record on Monday, September 16th will be given a dividend of 0.22 per share by the financial services provider on Monday, September 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Friday, September 13th.
Renasant has increased its dividend by an average of 4.7% per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Renasant has a payout ratio of 29.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Renasant to earn $3.07 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 28.7%.
RNST opened at $35.35 on Thursday. The stock has a fifty day moving average of $33.50 and a 200-day moving average of $35.01. The firm has a market capitalization of $1.99 billion, a P/E ratio of 11.78 and a beta of 1.23. Renasant has a 12-month low of $28.02 and a 12-month high of $45.18. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.12.
Several brokerages recently issued reports on RNST. BidaskClub upgraded Renasant from a “strong sell” rating to a “sell” rating in a report on Thursday. SunTrust Banks cut their price objective on Renasant from $37.00 to $36.00 and set a “hold” rating for the company in a report on Tuesday, August 27th. DA Davidson began coverage on Renasant in a report on Tuesday, August 20th. They set a “neutral” rating and a $37.00 price objective for the company. Finally, Zacks Investment Research lowered Renasant from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. Three analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The stock has an average rating of “Hold” and an average price target of $36.75.
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.
See Also: FAANG Stocks
Receive News & Ratings for Renasant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Renasant and related companies with MarketBeat.com's FREE daily email newsletter.