Renasant Stock Price, News & Analysis

Renasant Corporation (NASDAQ: RNST) reported strong third-quarter 2022 earnings, with net income of $46.6 million and diluted EPS of $0.83, reflecting a notable increase from $39.7 million and $0.71 in the prior quarter. The net interest margin rose to 3.54%, contributing to a net interest income of $132.4 million, up $17.1 million sequentially. However, total deposits decreased by $331.8 million, primarily due to a reduction in interest-bearing deposits. Credit quality remains stable, with nonperforming loans at 0.5% of total loans, while the company’s capital ratios reflect solid positions.

Renasant Corporation (NASDAQ: RNST) will announce its third quarter results on October 25, 2022, after NASDAQ's close. A conference call is scheduled for October 26, 2022, at 10:00 AM ET, accessible via the company's investor relations website or by phone. Renasant Corporation, with assets of approximately $16.6 billion, operates 195 locations across multiple states. Investors should consider potential risks, including interest rate fluctuations and economic recession, which could impact future performance.

The board of directors of Renasant Corporation (NASDAQ: RNST) has declared a quarterly cash dividend of $0.22 per share, set to be paid on September 30, 2022. Shareholders on record as of September 16, 2022 will receive this dividend, reflecting the company's ongoing commitment to returning value to its investors. Renasant Corporation, with approximately $16.6 billion in assets, operates 195 offices across several states, providing a range of financial services.

Renasant Corporation announces key organizational changes within its Mortgage Lending Division. David Mays, with nearly 20 years of leadership, transitions to Chairman, focusing on strategic advisory. Mark Harmon takes over as Senior Vice President and President, managing daily operations after joining Renasant in 2014. Additionally, Micah Stringer becomes Senior Vice President and Mortgage Retail Director, emphasizing growth and staffing in the retail sector. These leadership changes aim to enhance efficiency and continue long-term investments in mortgage banking.

Renasant Corporation (NASDAQ: RNST) reported a net income of $39.7 million for Q2 2022, slightly down from $40.9 million in Q2 2021. Earnings per share (EPS) were $0.71, a decrease from $0.73 year-over-year. The net interest income rose to $115.3 million, reflecting a $13.9 million increase from the previous quarter. The net interest margin improved to 3.11%, up 35 basis points. However, noninterest expense grew by $4.1 million, primarily due to salary increases and a restructuring charge. Despite a decline in total deposits, loans grew by $290.3 million, or 11.3% annualized.

Renasant Corporation (NASDAQ: RNST) will release its 2022 second quarter results on July 26, 2022, after NASDAQ closing. The quarterly conference call for analysts is scheduled for July 27, 2022, at 10:00 AM Eastern Time. Interested investors can join through Renasant's investor relations website or by phone. The call will be archived for future access. Renasant Corporation, with approximately $16.9 billion in assets, operates 199 banking and financial service locations across multiple states in the southeastern U.S.

Renasant Bank has appointed Walker Zimmerman, a prominent center-back for the Nashville Soccer Club and US Men's National Team, as its new Brand Ambassador. This partnership aims to enhance Renasant's marketing efforts through digital and social media promotion, alongside business development initiatives. Zimmerman, recognized as MLS Defender of the Year, expresses excitement about contributing to Renasant's success. The bank, with assets of approximately $16.9 billion, operates across multiple states, continuing to strengthen its brand presence in the South.

Renasant Corporation (NASDAQ: RNST) announced plans to eliminate consumer non-sufficient funds (NSF) fees, certain overdraft fees, and transfer fees to linked checking accounts by year-end 2022. The changes aim to enhance customer financial well-being and will impact fees totaling $4.7 million in 2021 and $1.3 million in Q1 2022. Additional services will remain, including overdraft coverage options and mobile banking tools. Renasant, with approximately $16.9 billion in assets, operates numerous banking offices across several states.

Renasant Corporation (NASDAQ: RNST) reported Q1 2022 net income of $33.5 million, down from $57.9 million YoY. Earnings per share (EPS) were $0.60 compared to $1.03 last year. Key highlights include a net interest income of $101.4 million, a decrease from the previous quarter, and a net loan growth of $292.5 million. The company also completed the acquisition of Southeastern Commercial Finance, adding $28.1 million in loans. Noninterest expense decreased by $7.0 million, driven by cost savings from contract negotiations.