FY2018 EPS Estimates for Pinnacle Financial Partners (PNFP) Lifted by SunTrust Banks

Pinnacle Financial Partners (NASDAQ:PNFP) – Analysts at SunTrust Banks upped their FY2018 earnings per share (EPS) estimates for shares of Pinnacle Financial Partners in a research note issued on Monday, according to Zacks Investment Research. SunTrust Banks analyst J. Demba now expects that the financial services provider will post earnings of $4.86 per share for the year, up from their prior forecast of $4.29. SunTrust Banks has a “Buy” rating and a $80.00 price objective on the stock. SunTrust Banks also issued estimates for Pinnacle Financial Partners’ FY2019 earnings at $5.26 EPS.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.03. Pinnacle Financial Partners had a net margin of 22.27% and a return on equity of 7.24%. The firm had revenue of $211.20 million for the quarter, compared to analyst estimates of $224.62 million. During the same quarter in the previous year, the business posted $0.83 earnings per share. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year.

A number of other equities analysts have also commented on PNFP. BidaskClub raised shares of Pinnacle Financial Partners from a “strong sell” rating to a “sell” rating in a research note on Saturday. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $74.00 price objective on shares of Pinnacle Financial Partners in a research note on Thursday, October 19th. Sandler O’Neill set a $76.00 price objective on shares of Pinnacle Financial Partners and gave the stock a “buy” rating in a research note on Thursday, January 18th. Hilliard Lyons raised shares of Pinnacle Financial Partners from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 8th. Finally, Zacks Investment Research raised shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Friday, October 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $76.14.

Pinnacle Financial Partners (PNFP) opened at $64.20 on Wednesday. Pinnacle Financial Partners has a 52 week low of $58.40 and a 52 week high of $71.55. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.00 and a quick ratio of 0.99. The company has a market cap of $4,990.00, a P/E ratio of 22.93, a P/E/G ratio of 0.96 and a beta of 1.13.

Several large investors have recently modified their holdings of the business. Neuberger Berman Group LLC acquired a new stake in shares of Pinnacle Financial Partners in the 2nd quarter valued at $953,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Pinnacle Financial Partners by 61.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,464 shares of the financial services provider’s stock valued at $155,000 after purchasing an additional 935 shares during the last quarter. Swiss National Bank lifted its stake in shares of Pinnacle Financial Partners by 59.4% in the 2nd quarter. Swiss National Bank now owns 123,061 shares of the financial services provider’s stock valued at $7,728,000 after purchasing an additional 45,861 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Pinnacle Financial Partners by 80.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,082 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 1,814 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Pinnacle Financial Partners by 5.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 167,053 shares of the financial services provider’s stock valued at $10,491,000 after purchasing an additional 8,194 shares during the last quarter. 71.57% of the stock is owned by institutional investors.

In other Pinnacle Financial Partners news, Director Thomas R. Sloan sold 15,000 shares of Pinnacle Financial Partners stock in a transaction on Friday, December 15th. The shares were sold at an average price of $65.97, for a total transaction of $989,550.00. Following the completion of the sale, the director now owns 108,257 shares of the company’s stock, valued at approximately $7,141,714.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of Pinnacle Financial Partners stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $65.96, for a total transaction of $197,880.00. Following the sale, the insider now directly owns 52,794 shares of the company’s stock, valued at approximately $3,482,292.24. The disclosure for this sale can be found here. Insiders have sold a total of 57,044 shares of company stock valued at $3,791,760 in the last three months. Company insiders own 5.41% of the company’s stock.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 2nd will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Thursday, February 1st. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 20.00%.

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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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Earnings History and Estimates for Pinnacle Financial Partners (NASDAQ:PNFP)

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