Brokerages expect that Pinnacle Financial Partners (NASDAQ:PNFP) will announce $1.28 earnings per share for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Pinnacle Financial Partners’ earnings, with estimates ranging from $1.25 to $1.30. Pinnacle Financial Partners reported earnings of $1.15 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.3%. The firm is expected to announce its next earnings results on Tuesday, July 16th.
According to Zacks, analysts expect that Pinnacle Financial Partners will report full-year earnings of $5.08 per share for the current financial year, with EPS estimates ranging from $4.88 to $5.16. For the next fiscal year, analysts forecast that the business will report earnings of $5.41 per share, with EPS estimates ranging from $5.15 to $5.61. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Pinnacle Financial Partners.
Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.03. Pinnacle Financial Partners had a net margin of 30.80% and a return on equity of 9.53%. The business had revenue of $238.30 million for the quarter, compared to analyst estimates of $246.03 million. During the same period in the previous year, the business posted $1.13 earnings per share. The business’s revenue was up 9.0% compared to the same quarter last year.
A number of research analysts have recently issued reports on PNFP shares. TheStreet upgraded shares of Pinnacle Financial Partners from a “c+” rating to a “b-” rating in a research note on Wednesday, February 13th. BidaskClub upgraded shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating in a research note on Saturday, February 23rd. Wells Fargo & Co set a $62.00 price target on shares of Pinnacle Financial Partners and gave the stock a “buy” rating in a research note on Wednesday, January 16th. Zacks Investment Research upgraded shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research note on Wednesday, March 20th. Finally, Raymond James set a $66.00 price target on shares of Pinnacle Financial Partners and gave the stock a “buy” rating in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Pinnacle Financial Partners presently has a consensus rating of “Hold” and a consensus price target of $64.14.
In related news, Chairman Richard D. Callicutt II sold 15,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $58.56, for a total transaction of $878,400.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Vice Chairman Ronald L. Samuel sold 1,600 shares of the business’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $58.55, for a total transaction of $93,680.00. Following the sale, the insider now directly owns 24,775 shares in the company, valued at approximately $1,450,576.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,188 shares of company stock worth $2,570,031. 2.97% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in PNFP. Enlightenment Research LLC purchased a new stake in Pinnacle Financial Partners during the fourth quarter worth about $28,000. Oregon Public Employees Retirement Fund boosted its holdings in Pinnacle Financial Partners by 4,510.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,351,790 shares of the financial services provider’s stock worth $29,000 after buying an additional 1,322,467 shares in the last quarter. Private Capital Group LLC boosted its holdings in Pinnacle Financial Partners by 76.6% during the first quarter. Private Capital Group LLC now owns 544 shares of the financial services provider’s stock worth $30,000 after buying an additional 236 shares in the last quarter. Pearl River Capital LLC purchased a new stake in Pinnacle Financial Partners during the fourth quarter worth about $37,000. Finally, Valeo Financial Advisors LLC purchased a new stake in Pinnacle Financial Partners during the first quarter worth about $39,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Pinnacle Financial Partners stock traded up $0.90 on Friday, reaching $58.12. 329,500 shares of the stock were exchanged, compared to its average volume of 459,983. Pinnacle Financial Partners has a 1-year low of $43.23 and a 1-year high of $68.70. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The firm has a market cap of $4.46 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 0.81 and a beta of 1.39.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 3rd will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Thursday, May 2nd. Pinnacle Financial Partners’s dividend payout ratio is currently 13.50%.
About Pinnacle Financial Partners
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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