Brokerages Expect Pinnacle Financial Partners (PNFP) Will Post Quarterly Sales of $219.83 Million
Wall Street analysts expect Pinnacle Financial Partners (NASDAQ:PNFP) to announce $219.83 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Pinnacle Financial Partners’ earnings, with estimates ranging from $218.40 million to $220.40 million. Pinnacle Financial Partners posted sales of $119.15 million in the same quarter last year, which suggests a positive year-over-year growth rate of 84.5%. The firm is expected to issue its next quarterly earnings results on Monday, April 16th.
According to Zacks, analysts expect that Pinnacle Financial Partners will report full year sales of $219.83 million for the current financial year, with estimates ranging from $927.10 million to $932.68 million. For the next financial year, analysts expect that the business will post sales of $1.02 billion per share, with estimates ranging from $1.01 billion to $1.04 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Pinnacle Financial Partners.
Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $211.20 million during the quarter, compared to the consensus estimate of $224.62 million. During the same quarter in the prior year, the firm earned $0.83 EPS. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year.
Shares of Pinnacle Financial Partners (NASDAQ:PNFP) traded up $0.60 during trading hours on Friday, hitting $60.80. 1,016,800 shares of the company were exchanged, compared to its average volume of 605,611. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.48. Pinnacle Financial Partners has a twelve month low of $58.40 and a twelve month high of $71.55. The company has a market cap of $4,726.57, a P/E ratio of 21.71, a PEG ratio of 0.92 and a beta of 1.13.
The company 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 yield of 0.92%. The ex-dividend date of this dividend is Thursday, February 1st. Pinnacle Financial Partners’s payout ratio is 20.00%.
In other news, Director Ed C. Loughry, Jr. sold 1,873 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $64.30, for a total value of $120,433.90. Following the completion of the sale, the director now directly owns 95,109 shares of the company’s stock, valued at approximately $6,115,508.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $67.20, for a total transaction of $201,600.00. 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 over the last three months. 5.41% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of PNFP. Whittier Trust Co. acquired a new stake in shares of Pinnacle Financial Partners in the 4th quarter worth approximately $119,000. Tower Research Capital LLC TRC lifted its stake in shares of Pinnacle Financial Partners by 252.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,929 shares of the financial services provider’s stock worth $128,000 after acquiring an additional 1,381 shares during the period. Advisor Group Inc. lifted its stake in shares of Pinnacle Financial Partners by 14.5% in the 2nd quarter. Advisor Group Inc. now owns 2,294 shares of the financial services provider’s stock worth $144,000 after acquiring an additional 291 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Pinnacle Financial Partners by 130.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,300 shares of the financial services provider’s stock worth $152,000 after acquiring an additional 1,300 shares during the period. Finally, Aldebaran Financial Inc. acquired a new stake in shares of Pinnacle Financial Partners in the 2nd quarter worth approximately $231,000. 72.60% of the stock is owned by institutional investors.
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Pinnacle Financial Partners Company Profile
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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