Pinnacle Financial Partners (PNFP) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Pinnacle Financial Partners (NASDAQ:PNFP) issued its quarterly earnings data on Monday. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.03, Briefing.com reports. The business had revenue of $238.30 million during the quarter, compared to analysts’ expectations of $246.03 million. Pinnacle Financial Partners had a return on equity of 9.63% and a net margin of 30.80%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.13 EPS.

NASDAQ PNFP opened at $57.27 on Wednesday. The stock has a market capitalization of $4.30 billion, a P/E ratio of 12.08, a price-to-earnings-growth ratio of 0.78 and a beta of 1.39. Pinnacle Financial Partners has a twelve month low of $43.23 and a twelve month high of $68.70. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.49.

Several equities analysts have recently issued reports on PNFP shares. TheStreet raised Pinnacle Financial Partners from a “c+” rating to a “b-” rating in a report on Wednesday, February 13th. Wells Fargo & Co set a $62.00 price objective on Pinnacle Financial Partners and gave the company a “buy” rating in a report on Wednesday, January 16th. Stephens reissued a “buy” rating and issued a $60.00 price objective on shares of Pinnacle Financial Partners in a report on Wednesday, December 19th. BidaskClub raised Pinnacle Financial Partners from a “hold” rating to a “buy” rating in a report on Saturday, February 23rd. Finally, Zacks Investment Research raised Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a report on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $64.14.

In related news, Vice Chairman Ronald L. Samuel sold 1,600 shares of the company’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $58.55, for a total value of $93,680.00. Following the completion of the transaction, the insider now owns 24,775 shares of the company’s stock, valued at approximately $1,450,576.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Richard D. Callicutt II sold 15,000 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $58.56, for a total value of $878,400.00. The disclosure for this sale can be found here. Insiders sold a total of 42,588 shares of company stock valued at $2,479,247 in the last ninety days. 2.97% of the stock is currently owned by insiders.

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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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Earnings History for Pinnacle Financial Partners (NASDAQ:PNFP)

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