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10 Profitable Banks With Dividend Yields Up to 7.7% (Update 1)

9. Renasant Corp.

Shares of Renasant Corp. (RNST) of Tupelo, Miss., closed at $14.46 Friday, declining 4% year-to-date, following a decline of 7% in 2011.

Based on a quarterly payout of 17 cents, the shares have a dividend yield of 4.70%.

The shares trade for 1.2 times tangible book value and 14 times the consensus 2012 EPS estimate of $1.02. The consensus 2013 EPS estimate is $1.13.

The company had $4.2 billion in total assets as of Dec. 30, and its quarterly ROA ranged from 0.54% to 0.63% during 2011, according to HighlineFI.

Wunderlich Securities analyst Kevin Reynolds rates Renasant a buy, with an $18 price target, saying in January after the company posted fourth-quarter earnings of 23 cents a share, saying the company "experienced slight loan growth, lower sequential expenses, and considerable improvements in nonperforming loans (current levels at a 13-quarter low) and past due loans."

Reynolds added that Renasant was "well positioned for long-term growth fueled by both continued organic growth as well as additional acquisitions."

Interested in more on Renasant Corp.? See TheStreet Ratings' report card for this stock.
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