Equities research analysts expect Pinnacle Financial Partners (NASDAQ:PNFP) to announce sales of $236.67 million for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Pinnacle Financial Partners’ earnings. The lowest sales estimate is $234.00 million and the highest is $239.65 million. Pinnacle Financial Partners posted sales of $216.16 million during the same quarter last year, which would indicate a positive year over year growth rate of 9.5%. The business is scheduled to report its next earnings report on Tuesday, October 16th.
According to Zacks, analysts expect that Pinnacle Financial Partners will report full year sales of $929.11 million for the current financial year, with estimates ranging from $924.00 million to $936.25 million. For the next fiscal year, analysts forecast that the firm will report sales of $1.03 billion per share, with estimates ranging from $1.01 billion to $1.04 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Pinnacle Financial Partners.
Pinnacle Financial Partners (NASDAQ:PNFP) last released its earnings results on Tuesday, July 17th. The financial services provider reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.01. Pinnacle Financial Partners had a net margin of 25.54% and a return on equity of 8.59%. The company had revenue of $230.20 million during the quarter, compared to the consensus estimate of $229.16 million. During the same quarter in the prior year, the firm earned $0.84 EPS. The company’s revenue was up 62.5% compared to the same quarter last year.
A number of equities research analysts have issued reports on PNFP shares. Hovde Group reiterated an “outperform” rating and issued a $75.00 target price (up previously from $72.00) on shares of Pinnacle Financial Partners in a research report on Friday, June 8th. ValuEngine downgraded shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research report on Friday, June 15th. Finally, BidaskClub upgraded shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating in a research report on Tuesday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company. Pinnacle Financial Partners has an average rating of “Buy” and a consensus target price of $72.75.
In other Pinnacle Financial Partners news, Vice Chairman Ronald L. Samuel sold 1,600 shares of the stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $64.21, for a total value of $102,736.00. Following the completion of the sale, the insider now owns 29,575 shares in the company, valued at approximately $1,899,010.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 4,800 shares of company stock valued at $304,704. Insiders own 3.39% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Amalgamated Bank increased its stake in shares of Pinnacle Financial Partners by 11.2% during the 2nd quarter. Amalgamated Bank now owns 16,394 shares of the financial services provider’s stock worth $1,006,000 after purchasing an additional 1,655 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Pinnacle Financial Partners during the 2nd quarter worth $1,225,000. Gradient Investments LLC increased its stake in shares of Pinnacle Financial Partners by 32.7% during the 2nd quarter. Gradient Investments LLC now owns 12,464 shares of the financial services provider’s stock worth $765,000 after purchasing an additional 3,073 shares during the last quarter. Suntrust Banks Inc. increased its stake in shares of Pinnacle Financial Partners by 10.2% during the 1st quarter. Suntrust Banks Inc. now owns 40,691 shares of the financial services provider’s stock worth $2,611,000 after purchasing an additional 3,782 shares during the last quarter. Finally, Hennessy Advisors Inc. acquired a new position in shares of Pinnacle Financial Partners during the 1st quarter worth $966,000. Institutional investors own 77.89% of the company’s stock.
PNFP stock traded up $0.05 during midday trading on Tuesday, reaching $64.55. The company had a trading volume of 304,500 shares, compared to its average volume of 520,933. Pinnacle Financial Partners has a 1 year low of $58.40 and a 1 year high of $69.95. 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 company has a market cap of $5.07 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 0.99 and a beta of 1.02.
The business also recently announced a quarterly dividend, which was paid on Friday, August 31st. Shareholders of record on Friday, August 3rd were given a $0.14 dividend. The ex-dividend date was Thursday, August 2nd. This represents a $0.56 dividend on an annualized basis and a yield of 0.87%. Pinnacle Financial Partners’s payout ratio is 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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