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

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

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

RNST stock opened at $37.34 on Friday. The firm has a market cap of $2.37 billion, a PE ratio of 13.57 and a beta of 1.03. Renasant has a 1 year low of $27.98 and a 1 year high of $39.63. The company has a fifty day simple moving average of $36.75 and a 200 day simple moving average of $35.12. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on RNST shares. StockNews.com downgraded Renasant from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Piper Sandler upped their target price on Renasant from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Raymond James reiterated an “outperform” rating and set a $44.00 price target (up previously from $40.00) on shares of Renasant in a report on Thursday, January 30th. Stephens boosted their price objective on shares of Renasant from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Finally, Hovde Group lowered shares of Renasant from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.