Brokerages expect Pinnacle Financial Partners, Inc. (NASDAQ: PNFP) to report earnings per share (EPS) of $ 1.56 for the current quarter, Zacks investment research reports. Five analysts provided earnings estimates for Pinnacle Financial Partners. The lowest EPS estimate is $ 1.53 and the highest is $ 1.59. Pinnacle Financial Partners posted earnings of $ 1.58 per share in the same quarter last year, indicating a negative growth rate of 1.3% year-over-year. The company is expected to release its next earnings report on Tuesday, January 18.
On average, analysts expect Pinnacle Financial Partners to report annual earnings of $ 6.61 per share for the current year, with EPS estimates ranging from $ 6.58 to $ 6.64. For next year, analysts predict the company will report earnings of $ 6.19 per share, with EPS estimates ranging from $ 5.86 to $ 6.46. Zacks Investment Research earnings per share averages are an average based on a survey of research analysts who track Pinnacle Financial Partners.
Pinnacle Financial Partners (NASDAQ: PNFP) last released its quarterly earnings data on Tuesday, October 12. The financial services provider reported earnings per share of $ 1.75 for the quarter, beating the Zacks’ consensus estimate of $ 1.55 by $ 0.20. The company posted revenue of $ 341.64 million for the quarter, compared to analysts’ estimates of $ 328.81 million. Pinnacle Financial Partners generated a net margin of 35.58% and a return on equity of 10.62%. The company’s quarterly revenue is up 15.0% from the same quarter last year. In the same quarter of the previous year, the company achieved earnings per share of $ 1.45.
The PNFP has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised its price target on Pinnacle Financial Partners shares from $ 113.00 to $ 120.00 and rated the stock “overweight” in a research report released Thursday, October 14. . Truist Securities raised its target price on the shares of Pinnacle Financial Partners from $ 105 to $ 120.00 and gave the stock a “buy” rating in a research report released on Thursday, October 14. Zacks investment research upgraded Pinnacle Financial Partners shares from a “hold” rating to a “buy” rating and set a target price of $ 105 on the stock in a research report released Wednesday. Wells Fargo & Company raised its price target for shares of Pinnacle Financial Partners from $ 120.00 to $ 145.00 and assigned the company an “overweight” rating in a report released Thursday, November 11. Finally, Truist raised its price target on shares of Pinnacle Financial Partners from $ 105 to $ 120.00 and gave the company a “buy” rating in a research note on Thursday, October 14. They noted that the move was an appraisal call. One research analyst rated the stock with a conservation rating and nine issued a buy rating for the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $ 107.67.
Shares of PNFP opened at $ 95.79 on Friday. The company has a 50-day simple moving average of $ 98.87 and a 200-day simple moving average of $ 94.08. The company has a leverage ratio of 0.29, a current ratio of 0.90, and a quick ratio of 0.89. Pinnacle Financial Partners has a one-year minimum of $ 61.95 and a one-year maximum of $ 105.28. The stock has a market cap of $ 7.29 billion, a PE ratio of 14.81 and a beta of 1.28.
The company also recently declared a quarterly dividend, which was paid on Friday, November 26. Investors registered on Friday, November 5 received a dividend of $ 0.18. The ex-dividend date of this dividend was Thursday, November 4. This represents a dividend of $ 0.72 on an annualized basis and a dividend yield of 0.75%. Pinnacle Financial Partners’ dividend payout ratio (DPR) is 11.13%.
Meanwhile, CAO Hugh M. Queener sold 8,119 shares of the company in a transaction that took place on Friday, October 15. The stock was sold for an average price of $ 101.10, for a total value of $ 820,830.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAD Hugh M. Queener sold 26,527 shares of Pinnacle Financial Partners in a transaction that took place on Monday, October 18. The stock was sold for an average price of $ 100.94, for a total value of $ 2,677,635.38. Disclosure of this sale can be found here. Insiders have sold a total of 81,146 shares of the company valued at $ 8,160,046 in the past 90 days. Company insiders own 2.60% of the company’s shares.
Institutional investors recently bought and sold shares in the company. ProShare Advisors LLC increased its stake in Pinnacle Financial Partners by 0.9% in the second quarter. ProShare Advisors LLC now owns 12,243 shares of the financial services provider valued at $ 1,081,000 after purchasing 105 additional shares in the last quarter. HighTower Advisors LLC increased its position in shares of Pinnacle Financial Partners by 2.2% in the second quarter. HighTower Advisors LLC now owns 5,522 shares of the financial services provider valued at $ 486,000 after purchasing an additional 120 shares during the period. Panagora Asset Management Inc. strengthened its position in shares of Pinnacle Financial Partners by 9.0% during the second quarter. Panagora Asset Management Inc. now owns 1,460 shares of the financial services provider valued at $ 129,000 after purchasing an additional 120 shares during the period. Berman Capital Advisors LLC strengthened its position in Pinnacle Financial Partners by 37.6% during the third quarter. Berman Capital Advisors LLC now owns 534 shares of the financial services provider valued at $ 49,000 after purchasing 146 more shares in the last quarter. Finally, People’s United Financial Inc. strengthened its position in Pinnacle Financial Partners by 1.1% during the third quarter. People’s United Financial Inc. now owns 14,020 shares of the financial services provider valued at $ 1,319,000 after purchasing an additional 151 shares in the last quarter. 80.45% of the shares are currently held by institutional investors.
About Pinnacle Financial Partners
Pinnacle Financial Partners, Inc is a banking holding company providing financial solutions. It offers banking, investment, trust, mortgage and insurance products and services designed for businesses and individuals. The company was founded by Dale W. Polley, Mr. Terry Turner, Sue G.
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