Pinnacle Financial Partners (NASDAQ:PNFP) Expected to Announce Earnings of $1.35 Per Share

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Wall Street analysts expect Pinnacle Financial Partners (NASDAQ:PNFP) to announce earnings of $1.35 per share for the current quarter, according to Zacks. Five analysts have issued estimates for Pinnacle Financial Partners’ earnings. The lowest EPS estimate is $1.30 and the highest is $1.41. Pinnacle Financial Partners posted earnings per share of $1.21 during the same quarter last year, which indicates a positive year over year growth rate of 11.6%. The business is expected to issue its next earnings report on Tuesday, October 15th.

On average, analysts expect that Pinnacle Financial Partners will report full-year earnings of $5.28 per share for the current year, with EPS estimates ranging from $5.17 to $5.38. For the next fiscal year, analysts expect that the business will report earnings of $5.45 per share, with EPS estimates ranging from $5.23 to $5.64. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Pinnacle Financial Partners.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.14. The firm had revenue of $259.60 million for the quarter, compared to analysts’ expectations of $252.44 million. Pinnacle Financial Partners had a return on equity of 9.82% and a net margin of 30.46%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.15 EPS.

Several research analysts have weighed in on the company. BidaskClub upgraded Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, September 10th. Zacks Investment Research cut Pinnacle Financial Partners from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Stephens reiterated a “hold” rating and set a $63.00 price objective on shares of Pinnacle Financial Partners in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. Pinnacle Financial Partners presently has an average rating of “Hold” and an average price target of $61.33.

PNFP stock opened at $57.95 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 0.77 and a beta of 1.43. The business’s fifty day moving average price is $54.92 and its two-hundred day moving average price is $56.20. Pinnacle Financial Partners has a fifty-two week low of $43.23 and a fifty-two week high of $64.85.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 2nd were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Thursday, August 1st. Pinnacle Financial Partners’s payout ratio is 13.50%.

In related news, Director David B. Ingram bought 20,000 shares of Pinnacle Financial Partners stock in a transaction dated Tuesday, August 6th. The shares were bought at an average cost of $54.28 per share, with a total value of $1,085,600.00. Following the acquisition, the director now owns 54,067 shares in the company, valued at approximately $2,934,756.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO M Terry Turner sold 47,174 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $56.96, for a total value of $2,687,031.04. Following the sale, the chief executive officer now directly owns 365,197 shares in the company, valued at $20,801,621.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,469 shares of company stock worth $3,500,349. 2.97% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC acquired a new stake in shares of Pinnacle Financial Partners during the 2nd quarter worth $33,000. CENTRAL TRUST Co grew its holdings in shares of Pinnacle Financial Partners by 376.7% during the 2nd quarter. CENTRAL TRUST Co now owns 715 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 565 shares in the last quarter. Prime Capital Investment Advisors LLC acquired a new stake in shares of Pinnacle Financial Partners during the 2nd quarter worth $68,000. Valeo Financial Advisors LLC grew its holdings in shares of Pinnacle Financial Partners by 66.7% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,197 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 479 shares in the last quarter. Finally, Gradient Investments LLC acquired a new stake in shares of Pinnacle Financial Partners during the 2nd quarter worth $79,000. 79.76% of the stock is currently owned by institutional investors.

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.

Further Reading: What does the Producer Price Index (PPI) tell investors?

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

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