Equities research analysts expect Pinnacle Financial Partners (NASDAQ:PNFP) to announce $266.83 million in sales for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Pinnacle Financial Partners’ earnings. The highest sales estimate is $271.60 million and the lowest is $258.60 million. Pinnacle Financial Partners reported sales of $240.90 million in the same quarter last year, which indicates a positive year over year growth rate of 10.8%. The business is expected to report its next quarterly earnings report after the market closes on Tuesday, October 15th.
On average, analysts expect that Pinnacle Financial Partners will report full-year sales of $1.04 billion for the current financial year, with estimates ranging from $1.03 billion to $1.06 billion. For the next year, analysts anticipate that the company will report sales of $1.11 billion, with estimates ranging from $1.08 billion to $1.14 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Pinnacle Financial Partners.
Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $1.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.14. The firm had revenue of $259.60 million for the quarter, compared to analyst estimates of $252.44 million. Pinnacle Financial Partners had a return on equity of 9.82% and a net margin of 30.46%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.15 EPS.
Several research analysts have weighed in on PNFP shares. Zacks Investment Research lowered Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research report on Tuesday. JPMorgan Chase & Co. started coverage on Pinnacle Financial Partners in a research note on Wednesday, September 18th. They set a “neutral” rating and a $62.00 target price for the company. BidaskClub upgraded Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, September 10th. Finally, Stephens reiterated a “hold” rating and set a $63.00 target price on shares of Pinnacle Financial Partners in a research note on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. Pinnacle Financial Partners has a consensus rating of “Hold” and a consensus target price of $61.43.
Shares of NASDAQ:PNFP traded up $1.14 during trading on Friday, hitting $56.49. 10,463 shares of the company were exchanged, compared to its average volume of 388,521. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of 11.91, a P/E/G ratio of 0.65 and a beta of 1.44. Pinnacle Financial Partners has a fifty-two week low of $43.23 and a fifty-two week high of $61.60. The firm has a fifty day moving average price of $54.62 and a two-hundred day moving average price of $55.98. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.58.
In other news, Vice Chairman Ronald L. Samuel sold 500 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $60.48, for a total value of $30,240.00. Following the completion of the transaction, the insider now directly owns 22,175 shares of the company’s stock, valued at $1,341,144. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas R. Sloan sold 6,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $56.42, for a total value of $338,520.00. Following the completion of the transaction, the director now directly owns 104,425 shares of the company’s stock, valued at $5,891,658.50. The disclosure for this sale can be found here. Insiders sold a total of 64,475 shares of company stock valued at $3,674,281 over the last 90 days. 2.97% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of PNFP. Laurion Capital Management LP bought a new stake in Pinnacle Financial Partners during the second quarter valued at $991,000. Aperio Group LLC boosted its stake in Pinnacle Financial Partners by 8.1% during the second quarter. Aperio Group LLC now owns 16,002 shares of the financial services provider’s stock valued at $920,000 after buying an additional 1,201 shares during the period. Strs Ohio boosted its stake in Pinnacle Financial Partners by 0.7% during the second quarter. Strs Ohio now owns 66,112 shares of the financial services provider’s stock valued at $3,800,000 after buying an additional 444 shares during the period. State of Wisconsin Investment Board boosted its stake in Pinnacle Financial Partners by 26.2% during the first quarter. State of Wisconsin Investment Board now owns 169,586 shares of the financial services provider’s stock valued at $9,276,000 after buying an additional 35,190 shares during the period. Finally, Landmark Financial Advisors LLC bought a new stake in Pinnacle Financial Partners during the second quarter valued at $203,000. 79.68% of the stock is owned by hedge funds and other institutional investors.
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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