Renasant (NASDAQ:RNST – Get Free Report) announced its earnings results on Tuesday. The financial services provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02, Briefing.com reports. The business had revenue of $254.56 million during the quarter, compared to the consensus estimate of $159.60 million. Renasant had a net margin of 15.94% and a return on equity of 7.98%. During the same quarter last year, the firm earned $0.82 earnings per share.
Renasant Stock Performance
Shares of Renasant stock traded down $1.49 during trading on Wednesday, hitting $29.02. 15,278 shares of the company’s stock were exchanged, compared to its average volume of 234,365. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.90 and a current ratio of 0.91. The business has a 50-day simple moving average of $30.37 and a 200-day simple moving average of $29.87. Renasant has a 52-week low of $22.99 and a 52-week high of $34.85. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 11.40 and a beta of 1.03.
Renasant Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.22 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.03%. Renasant’s dividend payout ratio is currently 34.11%.
Wall Street Analyst Weigh In
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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.
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