Wall Street analysts expect that Pinnacle Financial Partners (NASDAQ:PNFP) will report earnings of $1.20 per share for the current quarter, according to Zacks. Five analysts have provided estimates for Pinnacle Financial Partners’ earnings. The lowest EPS estimate is $1.19 and the highest is $1.22. Pinnacle Financial Partners reported earnings of $0.90 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 33.3%. The business is scheduled to announce its next quarterly earnings report on Tuesday, October 16th.
On average, analysts expect that Pinnacle Financial Partners will report full-year earnings of $4.71 per share for the current financial year, with EPS estimates ranging from $4.65 to $4.75. For the next financial year, analysts expect that the firm will post earnings of $5.15 per share, with EPS estimates ranging from $5.10 to $5.25. Zacks Investment Research’s EPS calculations are an 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 Tuesday, July 17th. The financial services provider reported $1.15 EPS for the quarter, beating the consensus estimate of $1.14 by $0.01. Pinnacle Financial Partners had a return on equity of 8.59% and a net margin of 25.54%. The firm had revenue of $230.20 million during the quarter, compared to analysts’ expectations of $229.16 million. During the same period in the prior year, the firm posted $0.84 earnings per share. The business’s quarterly revenue was up 62.5% compared to the same quarter last year.
PNFP has been the subject of several recent research reports. Wells Fargo & Co set a $72.00 price target on Pinnacle Financial Partners and gave the company a “buy” rating in a research report on Tuesday, October 2nd. BidaskClub raised Pinnacle Financial Partners from a “hold” rating to a “buy” rating in a research report on Saturday, August 18th. Stephens reaffirmed a “buy” rating and issued a $74.00 price objective on shares of Pinnacle Financial Partners in a research report on Wednesday, October 3rd. ValuEngine raised Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Thursday, June 21st. Finally, Hovde Group reaffirmed an “outperform” rating on shares of Pinnacle Financial Partners in a research report on Thursday, July 5th. Three investment analysts have rated the stock with a sell rating and eleven have issued a buy rating to the company. Pinnacle Financial Partners currently has a consensus rating of “Buy” and an average target price of $72.00.
Shares of NASDAQ PNFP opened at $60.37 on Friday. Pinnacle Financial Partners has a 52 week low of $58.46 and a 52 week 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 $4.68 billion, a P/E ratio of 16.91, a P/E/G ratio of 0.91 and a beta of 1.02.
In other news, Vice Chairman Ronald L. Samuel sold 1,600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 28th. The stock was 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 directly owns 29,575 shares of the company’s stock, valued at $1,899,010.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 4,800 shares of company stock valued at $304,960. Insiders own 3.39% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Highlander Capital Management LLC acquired a new stake in Pinnacle Financial Partners during the 1st quarter worth approximately $124,000. Qube Research & Technologies Ltd acquired a new stake in Pinnacle Financial Partners during the 2nd quarter worth approximately $133,000. Paloma Partners Management Co acquired a new stake in Pinnacle Financial Partners during the 2nd quarter worth approximately $209,000. Brown Advisory Inc. acquired a new stake in Pinnacle Financial Partners during the 1st quarter worth approximately $345,000. Finally, Quantitative Systematic Strategies LLC lifted its holdings in Pinnacle Financial Partners by 25.2% during the 2nd quarter. Quantitative Systematic Strategies LLC now owns 5,716 shares of the financial services provider’s stock worth $351,000 after purchasing an additional 1,150 shares during the last quarter. 77.77% of the stock is owned by institutional investors and hedge funds.
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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