Equities research analysts expect Pinnacle Financial Partners (NASDAQ:PNFP) to post $1.06 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Pinnacle Financial Partners’ earnings, with the highest EPS estimate coming in at $1.11 and the lowest estimate coming in at $0.98. Pinnacle Financial Partners reported earnings of $0.83 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 27.7%. The firm is scheduled to report its next quarterly earnings report on Monday, April 16th.
According to Zacks, analysts expect that Pinnacle Financial Partners will report full year earnings of $4.64 per share for the current financial year, with EPS estimates ranging from $4.26 to $4.80. For the next financial year, analysts anticipate that the firm will report earnings of $5.15 per share, with EPS estimates ranging from $4.72 to $5.30. Zacks’ EPS averages are an average based on a survey of research analysts that cover Pinnacle Financial Partners.
Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.03. The business had revenue of $211.20 million during the quarter, compared to analysts’ expectations of $224.62 million. Pinnacle Financial Partners had a return on equity of 7.24% and a net margin of 22.27%. The business’s revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.83 earnings per share.
A number of research firms have recently commented on PNFP. Piper Jaffray Companies set a $76.00 price objective on Pinnacle Financial Partners and gave the company a “buy” rating in a research report on Thursday, November 30th. Zacks Investment Research upgraded Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a research report on Wednesday, December 20th. BidaskClub upgraded Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, December 20th. Wells Fargo & Co began coverage on Pinnacle Financial Partners in a research report on Thursday, December 21st. They issued an “outperform” rating and a $80.00 price objective for the company. Finally, Hilliard Lyons cut Pinnacle Financial Partners from a “buy” rating to a “neutral” rating and set a $74.00 price objective for the company. in a research report on Friday, October 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $76.14.
Pinnacle Financial Partners (NASDAQ:PNFP) traded down $0.30 during trading on Friday, hitting $64.00. The stock had a trading volume of 812,548 shares, compared to its average volume of 406,502. The stock has a market capitalization of $4,975.36, a PE ratio of 22.86, a PEG ratio of 0.98 and a beta of 1.31. Pinnacle Financial Partners has a 1-year low of $58.40 and a 1-year high of $71.55. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.00 and a quick ratio of 0.98.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 2nd will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Thursday, February 1st. Pinnacle Financial Partners’s payout ratio is 20.00%.
In related news, CEO M Terry Turner sold 31,171 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $67.11, for a total transaction of $2,091,885.81. Following the completion of the sale, the chief executive officer now directly owns 489,701 shares in the company, valued at $32,863,834.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $67.28, for a total value of $201,840.00. Following the sale, the insider now owns 55,794 shares of the company’s stock, valued at $3,753,820.32. The disclosure for this sale can be found here. Insiders have sold 55,171 shares of company stock valued at $3,682,756 over the last quarter. 5.41% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Pinnacle Financial Partners by 42.6% during the second quarter. Vanguard Group Inc. now owns 5,840,702 shares of the financial services provider’s stock worth $366,796,000 after buying an additional 1,746,012 shares during the last quarter. BlackRock Inc. boosted its stake in Pinnacle Financial Partners by 2.8% during the second quarter. BlackRock Inc. now owns 5,788,167 shares of the financial services provider’s stock worth $363,496,000 after buying an additional 155,620 shares during the last quarter. State Street Corp boosted its stake in Pinnacle Financial Partners by 42.8% during the second quarter. State Street Corp now owns 2,733,336 shares of the financial services provider’s stock worth $171,658,000 after buying an additional 819,858 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Pinnacle Financial Partners by 56.0% during the second quarter. Goldman Sachs Group Inc. now owns 2,128,192 shares of the financial services provider’s stock worth $133,651,000 after buying an additional 764,072 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in Pinnacle Financial Partners by 10.4% during the third quarter. Jennison Associates LLC now owns 1,886,559 shares of the financial services provider’s stock worth $126,305,000 after buying an additional 177,049 shares during the last quarter. Hedge funds and other institutional investors own 71.77% of the company’s stock.
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Pinnacle Financial Partners Company Profile
Pinnacle Financial Partners, Inc is a bank holding company. The Company operates through its subsidiary, Pinnacle Bank. The Company operates as a community bank primarily in the urban markets of Nashville, Knoxville, Memphis and Chattanooga, Tennessee and other counties. It provides the personalized service associated with small community banks, while seeking to offer the products and services, such as investments and treasury management.
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