Pinnacle Financial Partners (PNFP) Expected to Announce Earnings of $1.20 Per Share
Equities analysts expect that Pinnacle Financial Partners (NASDAQ:PNFP) will report $1.20 earnings per share for the current quarter, according to Zacks. Five analysts have made estimates for Pinnacle Financial Partners’ earnings, with the highest EPS estimate coming in at $1.22 and the lowest estimate coming in at $1.19. Pinnacle Financial Partners posted earnings of $0.90 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 33.3%. The firm is expected to announce its next quarterly earnings report after the market closes on Tuesday, October 16th.
On average, analysts expect that Pinnacle Financial Partners will report full year earnings of $4.71 per share for the current year, with EPS estimates ranging from $4.65 to $4.75. For the next fiscal year, analysts expect that the business will post earnings of $5.15 per share, with EPS estimates ranging from $5.10 to $5.25. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that cover Pinnacle Financial Partners.
Pinnacle Financial Partners (NASDAQ:PNFP) last released its earnings results on Tuesday, July 17th. The financial services provider reported $1.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.01. Pinnacle Financial Partners had a net margin of 25.54% and a return on equity of 8.59%. The firm had revenue of $230.20 million during the quarter, compared to analyst estimates of $229.16 million. During the same period last year, the business earned $0.84 earnings per share. The business’s revenue was up 62.5% on a year-over-year basis.
Shares of PNFP stock traded down $0.88 during trading hours on Friday, hitting $56.00. 799,473 shares of the company’s stock traded hands, compared to its average volume of 522,056. Pinnacle Financial Partners has a 12-month low of $54.23 and a 12-month high of $69.95. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 0.91 and a beta of 1.02. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.98 and a current ratio of 0.99.
In related news, Vice Chairman Ronald L. Samuel sold 1,600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $64.21, for a total transaction of $102,736.00. Following the completion of the sale, the insider now owns 29,575 shares of the company’s stock, valued at $1,899,010.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 4,800 shares of company stock valued at $304,960 in the last three months. 3.39% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Highlander Capital Management LLC bought a new stake in shares of Pinnacle Financial Partners during the first quarter valued at approximately $124,000. Qube Research & Technologies Ltd bought a new stake in shares of Pinnacle Financial Partners during the second quarter valued at approximately $133,000. Paloma Partners Management Co bought a new stake in shares of Pinnacle Financial Partners during the second quarter valued at approximately $209,000. Brown Advisory Inc. bought a new stake in shares of Pinnacle Financial Partners during the first quarter valued at approximately $345,000. Finally, Signition LP bought a new stake in shares of Pinnacle Financial Partners during the second quarter valued at approximately $351,000. 77.77% of the stock is owned by institutional investors.
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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