Hilliard Lyons analyst Andrew Stapp upgraded Renasant to Buy and increased its price target to $38 from $35.

The Board of Directors of Renasant Corporation implemented the next step of the company's management succession plan, designating Kevin D. Chapman to become Chief Executive Officer of the Company and Renasant Bank effective May 2025. Chapman will retain his current title and duties of President of both the Company and Bank. Over the next year, current Renasant CEO, C. Mitchell Waycaster will work with Chapman on the leadership transition; in May 2025, while stepping down from the CEO position, Waycaster will continue in his role as Executive Vice Chairman of the Company and the Bank. Chapman has been President and Chief Operating Officer for the Company since May 2023. From October 2011 until he assumed the Chief Operating Officer role, he was the Chief Financial Officer of the Company and the Bank. Prior to that, Chapman served in various capacities since joining the Bank in 2005, including the Chief Strategy Officer and Corporate Accounting Officer. Chapman has also been a director of the Bank since 2018.

Reports book value per share and tangible book value per share increased 0.8% and 1.7%, respectively, on a linked quarter basis...The Company has a $100M stock repurchase program that is in effect through October; there was no buyback activity during the first quarter of 2024..Net income for the first quarter of 2024 was $39.4 M..Net interest income for the first quarter of 2024 was $125.9M down $2.7 M on a linked quarter basis..For the first quarter of 2024, net interest margin was 3.30%, down 3 basis points on a linked quarter basis..."The quarter's results reflect solid performance across the company, including good loan and deposit growth," remarked C. Mitchell Waycaster, Chief Executive Officer of the Company. "We continue to build balance sheet strength and believe this will keep Renasant well positioned for additional growth."