Renasant (NASDAQ:RNST – Get Free Report) issued its quarterly earnings results on Tuesday. The financial services provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02, Briefing.com reports. The firm had revenue of $254.56 million during the quarter, compared to analysts’ expectations of $159.60 million. Renasant had a net margin of 15.94% and a return on equity of 7.98%. During the same quarter in the prior year, the business earned $0.82 EPS.
Renasant Price Performance
NASDAQ:RNST traded down $1.51 during trading hours on Wednesday, reaching $29.00. 42,889 shares of the company traded hands, compared to its average volume of 234,638. The firm’s 50-day moving average is $30.37 and its 200-day moving average is $29.87. The stock has a market cap of $1.63 billion, a P/E ratio of 11.40 and a beta of 1.03. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.91 and a quick ratio of 0.90. Renasant has a 1-year low of $22.99 and a 1-year high of $34.85.
Renasant Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Friday, June 14th. Renasant’s dividend payout ratio (DPR) is presently 34.11%.
Analyst Upgrades and Downgrades
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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.
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