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TUPELO, Miss. - Renasant Corporation (RNST), a major financial services provider with a market capitalization of $2.04 billion, announced today the appointment of Kevin D. Chapman as the new Chief Executive Officer and President of the company and its subsidiary, Renasant Bank. Chapman, who has been with the company since May 2018, takes over from C. Mitchell Waycaster, who will remain as Executive Vice Chairman. According to InvestingPro data, four analysts have recently revised their earnings expectations upward for the upcoming period, suggesting confidence in the company’s direction.
In his new role, Chapman will oversee the company’s strategic planning, investor relations, and mergers and acquisitions. Waycaster, as Executive Vice Chairman, will continue to contribute to these areas, providing guidance and board level oversight.
Chapman’s promotion follows a planned succession strategy, with E. Robinson McGraw, Chairman of the Board, expressing confidence in Chapman’s ability to lead Renasant to further success. McGraw commended Chapman’s proven track record and vision for the company’s future.
Kevin D. Chapman has served as President since May 2023 and has a 25-year history in the financial services industry. His experience spans various roles, including Chief Operating Officer, Chief Financial Officer, and Chief Strategy Officer, among others. Before joining Renasant, Chapman worked as a Corporate Controller for a large regional bank and as an accountant with Ernst and Young. He holds an M.B.A. and a B.S. in Accounting from Troy University and is a licensed C.P.A. in Alabama.
Renasant Corporation, with assets of approximately $26.0 billion as of April 1, 2025, operates over 280 banking, lending, mortgage, and wealth management offices in the Southeast and provides factoring and asset-based lending nationwide. The company trades at an attractive P/E ratio of 8.94 and has maintained dividend payments for 33 consecutive years, currently offering a 2.74% yield. InvestingPro analysis indicates the stock is currently undervalued, with additional insights available in the comprehensive Pro Research Report, which provides deep-dive analysis of 1,400+ top US stocks.
This leadership transition is based on a press release statement from Renasant Corporation.
In other recent news, Renasant Corporation reported strong financial results for the first quarter of 2025, exceeding analysts’ expectations with an earnings per share (EPS) of $0.66, compared to the forecasted $0.52. Revenue also surpassed estimates, reaching $170.59 million against an anticipated $170.14 million. The company’s successful integration of First Bank shares has further solidified its market position, contributing to increased deposits and growth in interest income. In addition, Raymond James upgraded Renasant’s stock rating to Strong Buy, citing robust quarterly performance and the completion of the acquisition of The First Bancshares ahead of schedule.
The company’s annual meeting of shareholders saw the approval of key proposals, including amendments to the Articles of Incorporation and executive compensation. Shareholders also ratified the appointment of HORNE LLP as independent registered public accountants for 2025. Renasant announced a quarterly dividend of $0.22 per share, payable on June 30, 2025, reflecting its commitment to providing value to investors. These developments indicate continued confidence in Renasant’s strategic direction and financial health.
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