Microvast Holdings announces departure of chief financial officer
In a recent transaction disclosed in an SEC filing, Kelly Hutcheson, Executive Vice President and Chief Accounting Officer at Renasant Corp (NASDAQ:NYSE:RNST), sold 1,310 shares of common stock. The $2.34 billion regional bank has maintained dividend payments for 33 consecutive years and currently offers a 2.4% dividend yield. The shares were sold at a price of $36.72 each, totaling approximately $48,103. Following this transaction, Hutcheson retains ownership of 17,586 shares in the company. The transaction was carried out on February 21, 2025, and the filing was made public on February 24, 2025. According to InvestingPro analysis, Renasant appears undervalued at current levels, with 5 analysts recently revising their earnings estimates upward for the upcoming period.
In other recent news, Renasant Corporation reported a robust fourth quarter for 2024, with earnings per share (EPS) of $0.73, significantly surpassing the forecast of $0.57. However, the company’s revenue slightly missed expectations, coming in at $167.1 million compared to the projected $167.42 million. Despite this, Renasant’s strategic focus on loan growth and disciplined pricing contributed to its strong performance. The company is also preparing for a merger with First Bancshares, anticipated to occur in early 2025, which is expected to enhance its market position. Additionally, Renasant declared a quarterly cash dividend of $0.22 per share, scheduled for payment on March 31 to shareholders on record as of March 17. This dividend declaration aligns with the company’s pattern of providing returns to its shareholders. Furthermore, analysts from firms such as Raymond (NSE:RYMD) James and Piper Sandler have shown interest in Renasant’s loan growth strategy and expense management, with discussions highlighting the company’s ability to maintain disciplined pricing and control operational costs. These developments reflect Renasant’s ongoing commitment to financial health and strategic growth initiatives.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.