Pinnacle Financial Partners Announces Quarterly Dividend of $0.14 (PNFP)
Pinnacle Financial Partners (NASDAQ:PNFP) announced a quarterly dividend on Tuesday, January 16th, NASDAQ reports. Investors of record on Friday, February 2nd will be given a dividend of 0.14 per share by the financial services provider on Friday, February 23rd. This represents a $0.56 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Thursday, February 1st.
Shares of Pinnacle Financial Partners (NASDAQ PNFP) opened at $63.97 on Friday. The company has a market cap of $4,975.34, a P/E ratio of 18.08, a P/E/G ratio of 0.97 and a beta of 1.31. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.00 and a quick ratio of 0.99. Pinnacle Financial Partners has a 12 month low of $58.40 and a 12 month high of $71.55.
Pinnacle Financial Partners (NASDAQ:PNFP) last released its earnings results on Tuesday, January 16th. The financial services provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. The company had revenue of $211.20 million during the quarter, compared to analysts’ expectations of $224.62 million. Pinnacle Financial Partners had a net margin of 22.27% and a return on equity of 7.24%. Pinnacle Financial Partners’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the business earned $0.83 EPS. analysts anticipate that Pinnacle Financial Partners will post 4.71 earnings per share for the current fiscal year.
A number of research firms recently commented on PNFP. Sandler O’Neill set a $76.00 target price on shares of Pinnacle Financial Partners and gave the stock a “buy” rating in a research note on Thursday, January 18th. BidaskClub cut shares of Pinnacle Financial Partners from a “sell” rating to a “strong sell” rating in a research note on Friday. SunTrust Banks lowered their target price on shares of Pinnacle Financial Partners to $80.00 and set a “buy” rating for the company in a research note on Thursday, January 18th. Piper Jaffray Companies reissued a “buy” rating and set a $74.00 price target on shares of Pinnacle Financial Partners in a research report on Thursday, October 19th. Finally, Hilliard Lyons raised shares of Pinnacle Financial Partners from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $76.14.
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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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