Zacks: Analysts Anticipate Pinnacle Financial Partners, Inc. (PNFP) Will Announce Earnings of $0.97 Per Share
Equities analysts forecast that Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) will announce earnings of $0.97 per share for the current quarter, Zacks reports. Three analysts have provided estimates for Pinnacle Financial Partners’ earnings. The highest EPS estimate is $0.98 and the lowest is $0.94. Pinnacle Financial Partners posted earnings of $0.83 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 16.9%. The company is scheduled to report its next earnings report on Tuesday, January 16th.
According to Zacks, analysts expect that Pinnacle Financial Partners will report full-year earnings of $3.53 per share for the current fiscal year, with EPS estimates ranging from $3.37 to $3.60. For the next financial year, analysts forecast that the company will post earnings of $4.26 per share, with EPS estimates ranging from $4.10 to $4.55. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for Pinnacle Financial Partners.
Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly 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. Pinnacle Financial Partners had a net margin of 27.41% and a return on equity of 7.36%. The business had revenue of $216.20 million for the quarter, compared to analysts’ expectations of $217.13 million. During the same period last year, the business earned $0.78 earnings per share. The business’s quarterly revenue was up 102.8% on a year-over-year basis.
A number of research analysts have commented on PNFP shares. Zacks Investment Research cut shares of Pinnacle Financial Partners from a “buy” rating to a “sell” rating in a research report on Wednesday, October 11th. Piper Jaffray Companies reiterated a “buy” rating and set a $74.00 price target on shares of Pinnacle Financial Partners in a research report on Thursday, October 19th. Hilliard Lyons cut shares of Pinnacle Financial Partners from a “buy” rating to a “neutral” rating and set a $74.00 price target on the stock. in a research report on Friday, October 20th. SunTrust Banks, Inc. reiterated a “buy” rating and set a $73.00 price target on shares of Pinnacle Financial Partners in a research report on Wednesday, October 4th. Finally, Stephens reiterated a “hold” rating and set a $71.00 price target on shares of Pinnacle Financial Partners in a research report on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $73.25.
Shares of Pinnacle Financial Partners (NASDAQ PNFP) traded up $0.55 during midday trading on Friday, reaching $65.50. 287,635 shares of the company’s stock were exchanged, compared to its average volume of 473,811. Pinnacle Financial Partners has a twelve month low of $58.40 and a twelve month high of $71.85. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.99 and a quick ratio of 0.98. The company has a market capitalization of $5,032.56, a PE ratio of 19.04, a P/E/G ratio of 1.52 and a beta of 1.32.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Friday, November 3rd will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Thursday, November 2nd. Pinnacle Financial Partners’s dividend payout ratio is 17.34%.
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In other news, CFO Harold R. Carpenter sold 17,711 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 107,090 shares in the company, valued at $7,223,220.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph C. Galante bought 1,000 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was purchased at an average price of $59.40 per share, for a total transaction of $59,400.00. Following the acquisition, the director now directly owns 19,011 shares of the company’s stock, valued at approximately $1,129,253.40. The disclosure for this purchase can be found here. Insiders sold 66,711 shares of company stock worth $4,466,727 in the last 90 days. Company insiders own 5.41% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Neuberger Berman Group LLC lifted its stake in Pinnacle Financial Partners by 27.7% in the third quarter. Neuberger Berman Group LLC now owns 19,381 shares of the financial services provider’s stock worth $1,298,000 after acquiring an additional 4,200 shares during the period. Walthausen & Co. LLC lifted its stake in Pinnacle Financial Partners by 11.2% in the third quarter. Walthausen & Co. LLC now owns 179,687 shares of the financial services provider’s stock worth $12,030,000 after acquiring an additional 18,149 shares during the period. California Public Employees Retirement System lifted its stake in Pinnacle Financial Partners by 1.2% in the third quarter. California Public Employees Retirement System now owns 263,388 shares of the financial services provider’s stock worth $17,634,000 after acquiring an additional 3,057 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its stake in Pinnacle Financial Partners by 44.8% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,486 shares of the financial services provider’s stock worth $300,000 after acquiring an additional 1,389 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in Pinnacle Financial Partners by 6.5% in the third quarter. Janus Henderson Group PLC now owns 578,335 shares of the financial services provider’s stock worth $38,720,000 after acquiring an additional 35,069 shares during the period. 70.35% of the stock is owned by institutional investors.
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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