Renasant Co. (NASDAQ:RNST) to Issue Quarterly Dividend of $0.22

Renasant Co. (NASDAQ:RNST) announced a quarterly dividend on Thursday, February 20th, RTT News reports. Investors 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 annualized dividend and a dividend yield of 2.36%.

Renasant has a payout ratio of 26.3% indicating that its dividend is sufficiently covered by earnings. Equities 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 Down 0.7 %

Shares of RNST opened at $37.34 on Friday. The stock’s 50-day moving average price is $36.75 and its 200 day moving average price is $35.12. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 13.57 and a beta of 1.03. Renasant has a 12-month low of $27.98 and a 12-month high of $39.63.

Analyst Upgrades and Downgrades

RNST has been the subject of a number of recent research reports. Raymond James restated an “outperform” rating and issued a $44.00 target price (up from $40.00) on shares of Renasant in a research note on Thursday, January 30th. StockNews.com cut shares of Renasant from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Stephens lifted their target price on shares of Renasant from $44.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Piper Sandler upped their target price on shares of Renasant from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, Hovde Group cut shares of Renasant from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 13th. 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, Renasant has a consensus rating of “Hold” and a consensus target price of $42.83.

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. 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.