Pinnacle Financial Partners, Inc. (PNFP) to Issue Quarterly Dividend of $0.50 on November 27th

Pinnacle Financial Partners, Inc. (NYSE:PNFP) declared a quarterly dividend on Monday, October 26th. Stockholders of record on Friday, November 6th will be given a dividend of $0.50 per share on Friday, November 27th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, November 6th.

Pinnacle Financial Partners has increased its dividend payment by an average of 0.1% annually over the last three years and has increased its dividend every year for the last 1 years. Pinnacle Financial Partners has a dividend payout ratio of 23.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Pinnacle Financial Partners to earn $11.56 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 17.3%.

Pinnacle Financial Partners Price Performance

Shares of Pinnacle Financial Partners stock opened at $102.98 on Wednesday. The firm has a market cap of $7.99 billion, a P/E ratio of 10.62, a price-to-earnings-growth ratio of 0.40 and a beta of 1.04. The firm’s 50-day simple moving average is $97.60 and its 200-day simple moving average is $96.88. Pinnacle Financial Partners has a twelve month low of $81.08 and a twelve month high of $110.33. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.85 and a current ratio of 0.85.

Pinnacle Financial Partners (NYSE:PNFP) last posted its quarterly earnings results on Wednesday, October 21st. The company reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.07. Pinnacle Financial Partners had a net margin of 15.97% and a return on equity of 11.33%. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.28 billion. As a group, research analysts expect that Pinnacle Financial Partners will post 10.25 EPS for the current fiscal year.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc is a bank holding company headquartered in Nashville, Tennessee. Through its primary subsidiary, Pinnacle Bank, the company provides banking and financial services to businesses, professionals, entrepreneurs and individuals.

Its offerings include commercial and consumer loans, deposit accounts, treasury and cash-management services, mortgage lending, investment and wealth-management services, trust services and insurance solutions. Pinnacle emphasizes relationship-based banking and serves clients through offices and financial professionals in Tennessee and selected markets in the Carolinas and Virginia.

Founded in 2000, Pinnacle has expanded from its Nashville base into a broader regional banking franchise through organic growth and acquisitions.