Wall Street analysts forecast that Pinnacle Financial Partners (NASDAQ:PNFP) will announce earnings of $1.34 per share for the current quarter, Zacks reports. Six analysts have made estimates for Pinnacle Financial Partners’ earnings, with the lowest EPS estimate coming in at $1.28 and the highest estimate coming in at $1.41. Pinnacle Financial Partners posted earnings of $1.21 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 10.7%. The company is scheduled to announce its next quarterly earnings results after the market closes on Tuesday, October 15th.
According to Zacks, analysts expect that Pinnacle Financial Partners will report full year earnings of $5.27 per share for the current year, with EPS estimates ranging from $5.17 to $5.38. For the next financial year, analysts forecast that the company will report earnings of $5.41 per share, with EPS estimates ranging from $5.23 to $5.64. Zacks’ EPS averages are an average based on a survey of research analysts that that provide coverage for Pinnacle Financial Partners.
Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.14. Pinnacle Financial Partners had a return on equity of 9.82% and a net margin of 30.46%. The firm had revenue of $259.60 million for the quarter, compared to the consensus estimate of $252.44 million. During the same period last year, the business posted $1.15 EPS. The company’s revenue for the quarter was up 12.8% on a year-over-year basis.
PNFP has been the topic of a number of recent research reports. Stephens reaffirmed a “hold” rating and issued a $63.00 target price on shares of Pinnacle Financial Partners in a report on Monday, September 16th. BidaskClub raised Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. began coverage on Pinnacle Financial Partners in a report on Wednesday, September 18th. They set a “neutral” rating and a $62.00 price target on the stock. Finally, Zacks Investment Research cut Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $61.43.
Pinnacle Financial Partners stock traded up $1.14 during trading on Friday, reaching $56.49. The company had a trading volume of 10,463 shares, compared to its average volume of 388,521. Pinnacle Financial Partners has a 52 week low of $43.23 and a 52 week high of $61.60. The firm’s 50-day simple moving average is $54.62 and its 200 day simple moving average is $55.98. The firm has a market capitalization of $4.20 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 0.65 and a beta of 1.44. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.58.
In other news, Director Thomas R. Sloan sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $56.42, for a total transaction of $338,520.00. Following the completion of the transaction, the director now owns 104,425 shares in the company, valued at $5,891,658.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Ronald L. Samuel sold 500 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $60.48, for a total value of $30,240.00. Following the transaction, the insider now owns 22,175 shares of the company’s stock, valued at approximately $1,341,144. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,475 shares of company stock worth $3,674,281. Insiders own 2.97% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Cerebellum GP LLC purchased a new position in shares of Pinnacle Financial Partners during the third quarter valued at about $29,000. Laurel Wealth Advisors LLC purchased a new position in Pinnacle Financial Partners in the second quarter worth about $33,000. CENTRAL TRUST Co grew its position in Pinnacle Financial Partners by 376.7% in the second quarter. CENTRAL TRUST Co now owns 715 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 565 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new position in Pinnacle Financial Partners in the second quarter worth about $68,000. Finally, Valeo Financial Advisors LLC grew its position in Pinnacle Financial Partners by 66.7% in the second quarter. Valeo Financial Advisors LLC now owns 1,197 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 479 shares in the last quarter. Hedge funds and other institutional investors own 79.68% of the company’s stock.
About Pinnacle Financial Partners
Pinnacle Financial Partners, Inc operates as a bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The company accepts various deposits, including savings, checking, interest-bearing checking, money market, and certificate of deposit accounts.
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