Renasant Co. (RNST) To Go Ex-Dividend on March 17th

Renasant Co. (NASDAQ:RNST) announced a quarterly dividend on Thursday, February 20th, RTT News reports. Stockholders of record on Monday, March 17th will be given a dividend of 0.22 per share by the financial services provider on Monday, March 31st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Monday, March 17th.

Renasant has a payout ratio of 26.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Renasant to earn $3.53 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 24.9%.

Renasant Trading Up 3.6 %

RNST opened at $34.48 on Friday. The firm has a market capitalization of $2.19 billion, a P/E ratio of 10.54 and a beta of 1.02. The firm’s 50 day moving average is $36.51 and its 200-day moving average is $35.39. Renasant has a 52-week low of $27.98 and a 52-week high of $39.63. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.16.

Wall Street Analysts Forecast Growth

RNST has been the topic of a number of analyst reports. Raymond James reiterated an “outperform” rating and set a $44.00 price objective (up previously from $40.00) on shares of Renasant in a research note on Thursday, January 30th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $46.00 price objective (up previously from $45.00) on shares of Renasant in a research note on Thursday, January 30th. StockNews.com lowered shares of Renasant from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Stephens raised their price target on shares of Renasant from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Finally, Piper Sandler raised their price target on shares of Renasant from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $42.83.

Insiders Place Their Bets

In other Renasant news, CAO Kelly Hutcheson sold 1,310 shares of Renasant stock in a transaction on Friday, February 21st. The shares were sold at an average price of $36.72, for a total value of $48,103.20. Following the completion of the transaction, the chief accounting officer now owns 17,586 shares of the company’s stock, valued at $645,757.92. The trade was a 6.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.82% of the stock is currently owned by corporate insiders.

About Renasant

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. The company operates through Community Banks, Insurance, and Wealth Management segments. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and factoring equipment leasing services, as well as safe deposit and night depository facilities.