Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) issued its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.01, Bloomberg Earnings reports. The business had revenue of $216.20 million during the quarter, compared to analysts’ expectations of $217.13 million. Pinnacle Financial Partners had a return on equity of 7.36% and a net margin of 27.41%. The company’s revenue for the quarter was up 102.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 EPS.
Shares of Pinnacle Financial Partners (PNFP) opened at 67.25 on Friday. The firm’s 50-day moving average price is $65.06 and its 200 day moving average price is $63.64. Pinnacle Financial Partners has a 1-year low of $49.40 and a 1-year high of $71.85. The stock has a market capitalization of $5.22 billion, a price-to-earnings ratio of 20.68 and a beta of 1.31.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Friday, November 3rd will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $0.56 annualized dividend and a yield of 0.83%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 17.34%.
In other Pinnacle Financial Partners news, Vice Chairman Ronald L. Samuel sold 3,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $67.28, for a total value of $201,840.00. Following the completion of the sale, the insider now directly owns 55,794 shares of the company’s stock, valued at approximately $3,753,820.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph C. Galante bought 1,000 shares of the stock in a transaction on Thursday, September 7th. The stock was purchased at an average cost of $59.40 per share, with a total value of $59,400.00. Following the completion of the purchase, the director now directly owns 19,011 shares in the company, valued at approximately $1,129,253.40. The disclosure for this purchase can be found here. Insiders sold a total of 66,711 shares of company stock valued at $4,466,727 over the last ninety days. 5.41% of the stock is owned by corporate insiders.
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A number of equities analysts recently weighed in on the company. Zacks Investment Research cut Pinnacle Financial Partners from a “buy” rating to a “sell” rating in a report on Wednesday, October 11th. Hilliard Lyons cut Pinnacle Financial Partners from a “buy” rating to a “neutral” rating and set a $74.00 price target for the company. in a report on Friday, October 20th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $74.00 price target on shares of Pinnacle Financial Partners in a report on Friday, October 20th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $74.00 price target on shares of Pinnacle Financial Partners in a report on Thursday, October 19th. Finally, Stephens reaffirmed a “hold” rating and issued a $71.00 price target on shares of Pinnacle Financial Partners in a report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Pinnacle Financial Partners has a consensus rating of “Hold” and an average target price of $73.25.
About Pinnacle Financial Partners
Pinnacle Financial Partners, Inc is a bank holding company. The Company operates through its subsidiary, Pinnacle Bank. The Company operates as a community bank primarily in the urban markets of Nashville, Knoxville, Memphis and Chattanooga, Tennessee and other counties. It provides the personalized service associated with small community banks, while seeking to offer the products and services, such as investments and treasury management.
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