Wall Street brokerages expect Pinnacle Financial Partners (NASDAQ:PNFP) to post earnings per share of $1.34 for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Pinnacle Financial Partners’ earnings, with the highest EPS estimate coming in at $1.41 and the lowest estimate coming in at $1.28. Pinnacle Financial Partners reported earnings of $1.21 per share in the same quarter last year, which would indicate a positive year over year growth rate of 10.7%. The firm is expected to report its next quarterly earnings report after the market closes on Tuesday, October 15th.
According to Zacks, analysts expect that Pinnacle Financial Partners will report full year earnings of $5.27 per share for the current financial year, with EPS estimates ranging from $5.17 to $5.38. For the next financial year, analysts anticipate that the company will post earnings of $5.41 per share, with EPS estimates ranging from $5.23 to $5.64. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Pinnacle Financial Partners.
Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $1.42 EPS for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.14. The company had revenue of $259.60 million for the quarter, compared to analyst estimates of $252.44 million. Pinnacle Financial Partners had a net margin of 30.46% and a return on equity of 9.82%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.15 earnings per share.
PNFP has been the topic of several recent analyst reports. Stephens restated a “hold” rating and issued a $63.00 target price on shares of Pinnacle Financial Partners in a research note on Monday, September 16th. Zacks Investment Research downgraded shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research note on Tuesday. BidaskClub upgraded shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, September 10th. Finally, JPMorgan Chase & Co. started coverage on Pinnacle Financial Partners in a report on Wednesday, September 18th. They issued a “neutral” rating and a $62.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $61.43.
In other Pinnacle Financial Partners news, Director Thomas R. Sloan sold 6,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $56.42, for a total transaction of $338,520.00. Following the completion of the sale, the director now directly owns 104,425 shares of the company’s stock, valued at approximately $5,891,658.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronald L. Samuel sold 500 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $56.38, for a total value of $28,190.00. Following the sale, the director now directly owns 21,675 shares of the company’s stock, valued at $1,222,036.50. The disclosure for this sale can be found here. Insiders sold 64,475 shares of company stock valued at $3,674,281 over the last ninety days. 2.97% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in PNFP. Wiley BROS. Aintree Capital LLC increased its stake in shares of Pinnacle Financial Partners by 6.1% in the 3rd quarter. Wiley BROS. Aintree Capital LLC now owns 17,488 shares of the financial services provider’s stock valued at $992,000 after acquiring an additional 1,000 shares during the last quarter. Cerebellum GP LLC acquired a new position in shares of Pinnacle Financial Partners in the 3rd quarter valued at approximately $29,000. State of Alaska Department of Revenue grew its position in shares of Pinnacle Financial Partners by 53.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 12,866 shares of the financial services provider’s stock valued at $730,000 after purchasing an additional 4,466 shares during the period. Atria Investments LLC grew its position in shares of Pinnacle Financial Partners by 147.3% in the 2nd quarter. Atria Investments LLC now owns 19,607 shares of the financial services provider’s stock valued at $1,066,000 after purchasing an additional 11,679 shares during the period. Finally, Treasurer of the State of North Carolina grew its position in shares of Pinnacle Financial Partners by 8.8% in the 2nd quarter. Treasurer of the State of North Carolina now owns 36,873 shares of the financial services provider’s stock valued at $2,119,000 after purchasing an additional 2,970 shares during the period. 79.68% of the stock is owned by hedge funds and other institutional investors.
Shares of Pinnacle Financial Partners stock traded up $1.14 during midday trading on Friday, hitting $56.49. The company had a trading volume of 10,463 shares, compared to its average volume of 388,521. Pinnacle Financial Partners has a 1-year low of $43.23 and a 1-year high of $61.60. 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 business’s 50 day simple moving average is $54.62 and its two-hundred day simple moving average is $55.98. The stock has a market cap of $4.20 billion, a PE ratio of 11.91, a P/E/G ratio of 0.65 and a beta of 1.44.
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: Mutual Funds
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Pinnacle Financial Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle Financial Partners and related companies with MarketBeat.com's FREE daily email newsletter.