Pinnacle Financial Partners (NASDAQ:PNFP) posted its earnings results on Tuesday. The financial services provider reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.03, Briefing.com reports. The firm had revenue of $211.20 million for the quarter, compared to analysts’ expectations of $224.62 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 down 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.83 EPS.
Pinnacle Financial Partners (PNFP) traded down $0.70 during trading on Wednesday, reaching $67.85. 699,700 shares of the company were exchanged, compared to its average volume of 459,120. Pinnacle Financial Partners has a fifty-two week low of $58.40 and a fifty-two week high of $71.55. The stock has a market cap of $5,050.00, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 1.04 and a beta of 1.31. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.99 and a quick ratio of 0.98.
A number of equities research analysts recently commented on the stock. BidaskClub cut shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. Wells Fargo & Co assumed coverage on shares of Pinnacle Financial Partners in a report on Thursday, December 21st. They issued an “outperform” rating and a $80.00 price target on the stock. Zacks Investment Research raised shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a report on Wednesday, December 20th. Piper Jaffray Companies set a $76.00 price target on shares of Pinnacle Financial Partners and gave the stock a “buy” rating in a report on Thursday, November 30th. Finally, Hilliard Lyons raised shares of Pinnacle Financial Partners from a “neutral” rating to a “buy” rating in a report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. Pinnacle Financial Partners presently has an average rating of “Buy” and an average target price of $75.17.
In related 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 transaction, the insider now directly owns 55,794 shares in the company, valued at approximately $3,753,820.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas R. Sloan sold 10,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $67.25, for a total transaction of $672,500.00. Following the completion of the transaction, the director now owns 128,257 shares of the company’s stock, valued at $8,625,283.25. The disclosure for this sale can be found here. Insiders sold a total of 112,882 shares of company stock valued at $7,573,063 over the last quarter. 5.41% of the stock is owned by company insiders.
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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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