Pinnacle Financial Partners, Inc. (PNFP) Expected to Announce Earnings of $0.97 Per Share

Wall Street analysts expect Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) to post $0.97 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Pinnacle Financial Partners’ earnings, with the highest EPS estimate coming in at $0.98 and the lowest estimate coming in at $0.94. Pinnacle Financial Partners reported earnings of $0.83 per share during the same quarter last year, which would suggest a positive year over year growth rate of 16.9%. The business is scheduled to issue its next earnings results after the market closes on Tuesday, January 16th.

On average, analysts expect that Pinnacle Financial Partners will report full year earnings of $3.56 per share for the current financial year, with EPS estimates ranging from $3.51 to $3.60. For the next financial year, analysts forecast that the firm will report earnings of $4.36 per share, with EPS estimates ranging from $4.18 to $4.72. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Pinnacle Financial Partners.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its earnings results on Tuesday, October 17th. The financial services provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The business had revenue of $216.20 million for the quarter, compared to analysts’ expectations of $217.13 million. Pinnacle Financial Partners had a net margin of 27.41% and a return on equity of 7.36%. The company’s quarterly revenue was up 102.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 EPS.

Several equities analysts have issued reports on PNFP shares. SunTrust Banks reissued a “buy” rating and issued a $74.00 price objective on shares of Pinnacle Financial Partners in a research note on Friday, October 20th. Zacks Investment Research raised shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research note on Wednesday, December 20th. BidaskClub cut shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Piper Jaffray Companies restated an “overweight” rating and set a $72.00 target price on shares of Pinnacle Financial Partners in a research report on Thursday, October 5th. Finally, Hilliard Lyons upgraded shares of Pinnacle Financial Partners from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. Pinnacle Financial Partners has a consensus rating of “Buy” and an average price target of $75.17.

In related news, CFO Harold R. Carpenter sold 17,711 shares of the business’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $67.45, for a total value of $1,194,606.95. Following the completion of the transaction, the chief financial officer now owns 107,090 shares of the company’s stock, valued at approximately $7,223,220.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard D. Callicutt II sold 30,000 shares of the business’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $67.44, for a total transaction of $2,023,200.00. Following the completion of the transaction, the chairman now directly owns 168,241 shares of the company’s stock, valued at approximately $11,346,173.04. The disclosure for this sale can be found here. Insiders sold a total of 81,711 shares of company stock worth $5,481,177 over the last quarter. Insiders own 5.41% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. M&T Bank Corp raised its stake in Pinnacle Financial Partners by 5.3% in the 2nd quarter. M&T Bank Corp now owns 3,799 shares of the financial services provider’s stock valued at $238,000 after purchasing an additional 191 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in Pinnacle Financial Partners by 2.7% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 7,854 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 209 shares during the last quarter. HighTower Advisors LLC raised its stake in Pinnacle Financial Partners by 3.9% in the 2nd quarter. HighTower Advisors LLC now owns 5,820 shares of the financial services provider’s stock valued at $366,000 after purchasing an additional 220 shares during the last quarter. Advisor Group Inc. increased its stake in shares of Pinnacle Financial Partners by 14.5% during the 2nd quarter. Advisor Group Inc. now owns 2,294 shares of the financial services provider’s stock valued at $144,000 after acquiring an additional 291 shares during the last quarter. Finally, Dana Investment Advisors Inc. increased its stake in shares of Pinnacle Financial Partners by 2.0% during the 2nd quarter. Dana Investment Advisors Inc. now owns 44,338 shares of the financial services provider’s stock valued at $2,784,000 after acquiring an additional 874 shares during the last quarter. 71.75% of the stock is owned by hedge funds and other institutional investors.

Shares of Pinnacle Financial Partners (PNFP) traded up $0.45 on Thursday, reaching $67.00. 384,609 shares of the company’s stock traded hands, compared to its average volume of 395,997. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.57. The firm has a market cap of $5,200.00, a PE ratio of 20.68, a P/E/G ratio of 1.09 and a beta of 1.31. Pinnacle Financial Partners has a 12 month low of $58.40 and a 12 month high of $71.55.

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Pinnacle Financial Partners Company Profile

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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