Brokerages expect Pinnacle Financial Partners (NASDAQ:PNFP) to report $1.20 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Pinnacle Financial Partners’ earnings. The lowest EPS estimate is $1.19 and the highest is $1.22. Pinnacle Financial Partners posted earnings of $0.90 per share during the same quarter last year, which indicates a positive year over year growth rate of 33.3%. The firm is scheduled to report its next earnings report on Tuesday, October 16th.
On average, analysts expect that Pinnacle Financial Partners will report full-year earnings of $4.71 per share for the current fiscal year, with EPS estimates ranging from $4.65 to $4.76. For the next year, analysts anticipate that the company will report earnings of $5.18 per share, with EPS estimates ranging from $5.10 to $5.25. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Pinnacle Financial Partners.
Pinnacle Financial Partners (NASDAQ:PNFP) last posted its earnings results on Tuesday, July 17th. The financial services provider reported $1.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.01. The company had revenue of $230.20 million during the quarter, compared to analyst estimates of $229.16 million. Pinnacle Financial Partners had a net margin of 25.54% and a return on equity of 8.59%. Pinnacle Financial Partners’s revenue for the quarter was up 62.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 earnings per share.
A number of analysts have recently weighed in on the stock. BidaskClub upgraded shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating in a report on Saturday. ValuEngine lowered shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a report on Friday, June 29th. Finally, Hovde Group restated an “outperform” rating on shares of Pinnacle Financial Partners in a report on Thursday, July 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company. Pinnacle Financial Partners currently has an average rating of “Buy” and an average price target of $72.75.
In other Pinnacle Financial Partners news, Vice Chairman Ronald L. Samuel sold 1,600 shares of the firm’s stock in a transaction dated Tuesday, July 24th. The shares were sold at an average price of $62.90, for a total value of $100,640.00. Following the completion of the sale, the insider now directly owns 31,175 shares in the company, valued at $1,960,907.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary L. Scott sold 900 shares of the firm’s stock in a transaction dated Tuesday, May 22nd. The stock was sold at an average price of $68.39, for a total transaction of $61,551.00. Following the completion of the sale, the director now owns 42,419 shares of the company’s stock, valued at $2,901,035.41. The disclosure for this sale can be found here. Insiders sold 7,100 shares of company stock valued at $462,719 over the last 90 days. 3.39% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of PNFP. BlackRock Inc. increased its stake in shares of Pinnacle Financial Partners by 4.4% during the second quarter. BlackRock Inc. now owns 6,485,908 shares of the financial services provider’s stock valued at $397,909,000 after purchasing an additional 273,386 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Pinnacle Financial Partners by 7.1% during the second quarter. Jennison Associates LLC now owns 3,501,820 shares of the financial services provider’s stock valued at $214,837,000 after purchasing an additional 233,210 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Pinnacle Financial Partners by 13.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,489,261 shares of the financial services provider’s stock valued at $91,369,000 after purchasing an additional 177,866 shares in the last quarter. Ceredex Value Advisors LLC bought a new position in shares of Pinnacle Financial Partners during the first quarter valued at approximately $90,692,000. Finally, Victory Capital Management Inc. increased its stake in shares of Pinnacle Financial Partners by 0.5% during the second quarter. Victory Capital Management Inc. now owns 1,248,891 shares of the financial services provider’s stock valued at $76,620,000 after purchasing an additional 6,673 shares in the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.
Pinnacle Financial Partners stock opened at $65.15 on Thursday. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. The stock has a market cap of $4.90 billion, a PE ratio of 18.25, a PEG ratio of 0.95 and a beta of 1.02. Pinnacle Financial Partners has a 1-year low of $58.40 and a 1-year high of $69.95.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 31st. Shareholders of record on Friday, August 3rd will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, August 2nd. This represents a $0.56 annualized dividend and a yield of 0.86%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 15.69%.
Pinnacle Financial Partners Company Profile
Pinnacle Financial Partners, Inc operates as a bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The company accepts various deposits, including savings, checking, interest-bearing checking, money market, and certificate of deposit accounts.
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