Pinnacle Financial Partners (PNFP) to Release Quarterly Earnings on Monday

Pinnacle Financial Partners (NASDAQ:PNFP) is projected to release its earnings data after the market closes on Monday, April 14th. Analysts expect Pinnacle Financial Partners to post earnings of $1.82 per share and revenue of $478.11 million for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.10. The business had revenue of $475.34 million for the quarter, compared to analyst estimates of $470.33 million. Pinnacle Financial Partners had a return on equity of 9.04% and a net margin of 15.48%. The company’s revenue was up 19.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.68 earnings per share. On average, analysts expect Pinnacle Financial Partners to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Pinnacle Financial Partners Price Performance

Shares of NASDAQ PNFP opened at $90.04 on Friday. Pinnacle Financial Partners has a 52 week low of $73.62 and a 52 week high of $131.91. The business’s 50 day moving average price is $107.69 and its 200 day moving average price is $111.93. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.37. The firm has a market cap of $6.97 billion, a P/E ratio of 15.06 and a beta of 0.94.

Pinnacle Financial Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 7th were paid a $0.24 dividend. The ex-dividend date was Friday, February 7th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.07%. This is a positive change from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. Pinnacle Financial Partners’s dividend payout ratio is presently 16.05%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. UBS Group initiated coverage on shares of Pinnacle Financial Partners in a report on Tuesday, December 17th. They issued a “neutral” rating and a $133.00 price target on the stock. Wells Fargo & Company reduced their price target on Pinnacle Financial Partners from $125.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday. Citigroup raised their price objective on shares of Pinnacle Financial Partners from $123.00 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, December 31st. Hovde Group lowered their price target on shares of Pinnacle Financial Partners from $135.00 to $120.00 and set a “market perform” rating on the stock in a report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $124.70.

Insiders Place Their Bets

In other Pinnacle Financial Partners news, Chairman Robert A. Mccabe, Jr. sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $113.81, for a total value of $4,552,400.00. Following the sale, the chairman now owns 83,000 shares of the company’s stock, valued at $9,446,230. The trade was a 32.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David B. Ingram sold 10,309 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $126.00, for a total value of $1,298,934.00. Following the completion of the sale, the director now owns 82,256 shares in the company, valued at $10,364,256. This represents a 11.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 95,350 shares of company stock valued at $11,421,320 in the last three months. 1.46% of the stock is currently owned by insiders.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.