Zacks: Brokerages Expect Pinnacle Financial Partners (PNFP) Will Post Quarterly Sales of $219.83 Million

Analysts predict that Pinnacle Financial Partners (NASDAQ:PNFP) will post $219.83 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Pinnacle Financial Partners’ earnings, with estimates ranging from $218.40 million to $220.40 million. Pinnacle Financial Partners posted sales of $119.15 million during the same quarter last year, which suggests a positive year over year growth rate of 84.5%. The company is expected to report its next earnings results on Monday, April 16th.

According to Zacks, analysts expect that Pinnacle Financial Partners will report full-year sales of $219.83 million for the current year, with estimates ranging from $927.10 million to $932.68 million. For the next financial year, analysts expect that the firm will post sales of $1.02 billion per share, with estimates ranging from $1.01 billion to $1.04 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Pinnacle Financial Partners.

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Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. Pinnacle Financial Partners had a net margin of 22.27% and a return on equity of 7.24%. The firm had revenue of $211.20 million during the quarter, compared to analyst estimates of $224.62 million. During the same period in the previous year, the business posted $0.83 earnings per share. The business’s revenue for the quarter was down 2.3% on a year-over-year basis.

PNFP has been the subject of a number of research analyst reports. Sandler O’Neill set a $76.00 price target on shares of Pinnacle Financial Partners and gave the stock a “buy” rating in a research note on Thursday, January 18th. SunTrust Banks reduced their price target on shares of Pinnacle Financial Partners to $80.00 and set a “buy” rating for the company in a research note on Thursday, January 18th. Zacks Investment Research upgraded shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $76.00 price target for the company in a research note on Wednesday, December 20th. BidaskClub upgraded shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods upgraded shares of Pinnacle Financial Partners from a “market perform” rating to an “outperform” rating in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $73.13.

In other Pinnacle Financial Partners news, Vice Chairman Ronald L. Samuel sold 3,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $63.47, for a total transaction of $190,410.00. Following the transaction, the insider now owns 46,794 shares of the company’s stock, valued at $2,970,015.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO M Terry Turner sold 31,171 shares of Pinnacle Financial Partners stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $67.11, for a total transaction of $2,091,885.81. Following the transaction, the chief executive officer now directly owns 489,701 shares in the company, valued at approximately $32,863,834.11. The disclosure for this sale can be found here. Insiders have sold 133,882 shares of company stock valued at $9,000,201 over the last 90 days. 3.39% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of PNFP. Whittier Trust Co. purchased a new position in Pinnacle Financial Partners during the fourth quarter valued at approximately $119,000. Tower Research Capital LLC TRC lifted its holdings in Pinnacle Financial Partners by 252.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,929 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 1,381 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in Pinnacle Financial Partners by 130.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,300 shares of the financial services provider’s stock valued at $152,000 after purchasing an additional 1,300 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Pinnacle Financial Partners by 49.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,681 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 1,217 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its holdings in Pinnacle Financial Partners by 44.8% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,486 shares of the financial services provider’s stock valued at $300,000 after purchasing an additional 1,389 shares in the last quarter. 72.14% of the stock is currently owned by institutional investors and hedge funds.

Shares of PNFP stock traded down $1.55 during trading hours on Friday, reaching $63.80. The company had a trading volume of 506,508 shares, compared to its average volume of 578,950. Pinnacle Financial Partners has a one year low of $58.40 and a one year high of $70.30. The firm has a market capitalization of $5,062.66, a PE ratio of 17.87, a P/E/G ratio of 0.98 and a beta of 1.04. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.48.

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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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Earnings History and Estimates for Pinnacle Financial Partners (NASDAQ:PNFP)

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