Pinnacle Financial Partners (NASDAQ:PNFP) – Investment analysts at SunTrust Banks issued their Q1 2019 earnings per share (EPS) estimates for shares of Pinnacle Financial Partners in a research note issued on Monday, April 16th. SunTrust Banks analyst J. Demba forecasts that the financial services provider will post earnings per share of $1.23 for the quarter. SunTrust Banks has a “Positive” rating and a $73.00 price objective on the stock. SunTrust Banks also issued estimates for Pinnacle Financial Partners’ Q2 2019 earnings at $1.28 EPS, Q3 2019 earnings at $1.37 EPS and Q4 2019 earnings at $1.42 EPS.
Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings results on Monday, April 16th. The financial services provider reported $1.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.03. Pinnacle Financial Partners had a return on equity of 7.56% and a net margin of 24.09%. The business had revenue of $218.60 million for the quarter, compared to the consensus estimate of $220.48 million. During the same quarter in the previous year, the business earned $0.83 EPS. The company’s quarterly revenue was up 83.5% compared to the same quarter last year.
Other equities analysts have also recently issued research reports about the company. BidaskClub cut Pinnacle Financial Partners from a “buy” rating to a “hold” rating in a report on Wednesday. FIG Partners raised Pinnacle Financial Partners from a “market perform” rating to an “outperform” rating in a report on Wednesday. Hovde Group raised Pinnacle Financial Partners from a “market perform” rating to an “outperform” rating and set a $72.00 price target for the company in a report on Wednesday. Zacks Investment Research cut Pinnacle Financial Partners from a “buy” rating to a “hold” rating in a report on Thursday, March 29th. Finally, Sandler O’Neill set a $76.00 price target on Pinnacle Financial Partners and gave the stock a “buy” rating in a report on Thursday, January 18th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $72.22.
Shares of PNFP opened at $62.05 on Wednesday. Pinnacle Financial Partners has a 52 week low of $58.40 and a 52 week high of $70.30. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $4,980.88, a PE ratio of 17.38, a P/E/G ratio of 0.97 and a beta of 1.04.
Several institutional investors have recently made changes to their positions in PNFP. Jennison Associates LLC raised its holdings in shares of Pinnacle Financial Partners by 51.7% during the fourth quarter. Jennison Associates LLC now owns 2,861,331 shares of the financial services provider’s stock valued at $189,706,000 after acquiring an additional 974,772 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Pinnacle Financial Partners by 232.0% in the fourth quarter. Alliancebernstein L.P. now owns 540,977 shares of the financial services provider’s stock valued at $35,867,000 after purchasing an additional 378,050 shares during the last quarter. Virtus Fund Advisers LLC increased its holdings in shares of Pinnacle Financial Partners by 31.0% in the fourth quarter. Virtus Fund Advisers LLC now owns 851,450 shares of the financial services provider’s stock valued at $56,451,000 after purchasing an additional 201,325 shares during the last quarter. Systematic Financial Management LP acquired a new stake in shares of Pinnacle Financial Partners in the fourth quarter valued at approximately $12,106,000. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Pinnacle Financial Partners by 56.0% in the third quarter. Schwab Charles Investment Management Inc. now owns 299,970 shares of the financial services provider’s stock valued at $20,083,000 after purchasing an additional 107,717 shares during the last quarter. 72.17% of the stock is owned by institutional investors and hedge funds.
In other Pinnacle Financial Partners news, CFO Harold R. Carpenter sold 11,835 shares of the stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $68.44, for a total transaction of $809,987.40. Following the completion of the transaction, the chief financial officer now owns 99,021 shares of the company’s stock, valued at $6,776,997.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of the stock in a transaction that occurred on Tuesday, March 27th. The shares were sold at an average price of $63.03, for a total value of $189,090.00. Following the transaction, the insider now directly owns 40,375 shares of the company’s stock, valued at approximately $2,544,836.25. The disclosure for this sale can be found here. Insiders have sold 102,711 shares of company stock valued at $6,908,315 in the last three months. Insiders own 3.39% of the company’s stock.
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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