Renasant Stock Price, News & Analysis

The board of directors of Renasant Corporation (NASDAQ: RNST) has declared a quarterly cash dividend of $0.22 per share, scheduled for payment on June 30, 2023. Shareholders on record as of June 16, 2023 will receive the dividend. With approximately $17.5 billion in assets, Renasant operates 196 offices across the Southeast, offering a range of financial services including banking, lending, and insurance. This dividend payment reflects the company's commitment to returning value to its investors while maintaining a robust financial position.

Renasant Corporation (RNST) announced the election of Rose Flenorl to its Board of Directors on April 25, 2023. Flenorl, who currently manages Global Citizenship initiatives at FedEx, brings over 30 years of experience in marketing and corporate social responsibility. Known for her leadership in Diversity, Equity, and Inclusion, she has successfully executed significant initiatives, including a $5 million commitment to HBCUs and the launch of an E-Commerce Learning Lab for women and minority entrepreneurs. Renasant's Executive Chairman, E. Robinson McGraw, expressed enthusiasm for Flenorl's contributions to the board, emphasizing her potential to add value. Renasant Corporation, a financial services institution with $17.5 billion in assets, operates 196 offices across the Southeast.

Renasant Corporation (NASDAQ: RNST) reported first quarter 2023 earnings with net income of $46.1 million and diluted EPS of $0.82. This reflects a slight decrease from $46.3 million and $0.83 in the previous quarter. The net interest income was $138.5 million, down $2 million quarter-over-quarter, with a net interest margin of 3.66%. Noninterest income rose by $3.9 million, driven by growth in mortgage banking income. Total loans increased by $188.1 million, marking 6.6% annualized growth, while total deposits expanded by $425.1 million. The company recorded a provision for credit losses of $8 million and net loan charge-offs of $4.7 million. Renasant maintains a $100 million stock repurchase program, but no buybacks occurred in this quarter.

The Renasant Corporation (NASDAQ: RNST) is set to announce its 2023 first quarter results on April 25, 2023, after the NASDAQ closes. A conference call and webcast for analysts will follow on April 26, 2023, at 10:00 AM ET, accessible via Renasant's investor relations site. Renasant Corporation, which has been operating for 119 years, boasts approximately $17.0 billion in assets and runs 198 banking and financial services offices across the Southeast. The company emphasizes the importance of reviewing their filings with the SEC and highlights that forward-looking statements may involve risks and uncertainties that could lead to actual results differing significantly from expectations.

Renasant Corporation (NASDAQ: RNST) announced the approval of a quarterly cash dividend of $0.22 per share, payable on March 31, 2023, to shareholders on record as of March 17, 2023. With approximately $17.0 billion in assets, Renasant operates 198 branches across the Southeast, offering a range of financial services including banking, lending, and wealth management. This dividend marks a continued commitment to returning value to shareholders amidst a stable operational landscape.

Renasant Corporation (RNST) reported its Q4 2022 earnings, revealing net income of $46.3 million and diluted EPS of $0.82, compared to $37.1 million and $0.66 in Q4 2021. Adjusted diluted EPS rose to $0.89 from $0.68 year-over-year. The bank completed the acquisition of Republic Business Credit, adding $77.5 million in loans. Net interest income increased to $140.6 million, with a net interest margin of 3.78%. Despite stable credit metrics, a provision for credit losses of $10.5 million was recorded due to loan growth. The bank's capital ratios remain robust, with a common equity tier 1 ratio of 10.21%.

Renasant Corporation (NASDAQ: RNST) will announce its 2022 fourth quarter results on January 24, 2023, after NASDAQ's closing. A conference call for analysts hosted by executive management will take place on January 25, 2023, at 10:00 AM ET. Investors can access the webcast through Renasant's investor relations website. The company, with approximately $16.5 billion in assets, operates 195 offices in multiple states. Forward-looking statements may be included in the announcement, with disclaimers regarding risks and uncertainties affecting future performance.

Renasant has announced PGA Tour golfer Trey Mullinax as their new Brand Ambassador. Mullinax, who won the Barbasol Championship in July 2022, brings a relatable background from Birmingham, Alabama. Renasant's Chief Marketing Officer, John Oxford, stated that Mullinax's professionalism and popularity will boost the brand's image and engagement. Mullinax aims to contribute through digital promotions and brand content, joining the roster of existing ambassadors like Kirk Herbstreit and Ally Ewing.