Brokerages expect Pinnacle Financial Partners (NASDAQ:PNFP) to announce earnings of $1.33 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Pinnacle Financial Partners’ earnings. The lowest EPS estimate is $1.30 and the highest is $1.35. Pinnacle Financial Partners posted earnings per share of $1.21 in the same quarter last year, which would indicate a positive year over year growth rate of 9.9%. The company is scheduled to issue its next quarterly earnings results on Tuesday, October 15th.
According to Zacks, analysts expect that Pinnacle Financial Partners will report full-year earnings of $5.26 per share for the current year, with EPS estimates ranging from $4.96 to $5.38. For the next fiscal year, analysts anticipate that the business will post earnings of $5.49 per share, with EPS estimates ranging from $5.37 to $5.64. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Pinnacle Financial Partners.
Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.14. Pinnacle Financial Partners had a return on equity of 9.82% and a net margin of 30.46%. The company had revenue of $259.60 million during the quarter, compared to the consensus estimate of $252.44 million. During the same period last year, the company earned $1.15 earnings per share. The firm’s revenue was up 12.8% compared to the same quarter last year.
In related news, Vice Chairman Ronald L. Samuel sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $60.48, for a total transaction of $30,240.00. Following the completion of the sale, the insider now owns 22,175 shares of the company’s stock, valued at $1,341,144. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles E. Brock sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $56.05, for a total value of $112,100.00. Following the sale, the director now directly owns 36,304 shares of the company’s stock, valued at approximately $2,034,839.20. The disclosure for this sale can be found here. Insiders have sold 3,000 shares of company stock valued at $170,645 in the last ninety days. 2.97% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PNFP. Commonwealth Equity Services LLC grew its stake in Pinnacle Financial Partners by 17.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 9,263 shares of the financial services provider’s stock worth $427,000 after purchasing an additional 1,388 shares during the period. Advisor Group Inc. grew its stake in Pinnacle Financial Partners by 12.8% during the fourth quarter. Advisor Group Inc. now owns 3,852 shares of the financial services provider’s stock worth $178,000 after purchasing an additional 437 shares during the period. Dimensional Fund Advisors LP grew its stake in Pinnacle Financial Partners by 5.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,586,418 shares of the financial services provider’s stock worth $73,135,000 after purchasing an additional 82,699 shares during the period. Bank of America Corp DE grew its stake in Pinnacle Financial Partners by 6.9% during the fourth quarter. Bank of America Corp DE now owns 345,782 shares of the financial services provider’s stock worth $15,940,000 after purchasing an additional 22,325 shares during the period. Finally, Squarepoint Ops LLC grew its stake in Pinnacle Financial Partners by 133.8% in the fourth quarter. Squarepoint Ops LLC now owns 50,621 shares of the financial services provider’s stock valued at $2,334,000 after acquiring an additional 28,973 shares during the period. 80.55% of the stock is owned by institutional investors and hedge funds.
Shares of PNFP traded down $0.86 during mid-day trading on Friday, reaching $56.71. 334,562 shares of the company were exchanged, compared to its average volume of 514,055. Pinnacle Financial Partners has a 52 week low of $43.23 and a 52 week high of $66.54. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $4.67 billion, a PE ratio of 11.96, a PEG ratio of 0.83 and a beta of 1.35. The stock has a 50 day simple moving average of $57.67.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 2nd will be paid a dividend of $0.16 per share. The ex-dividend date is Thursday, August 1st. This represents a $0.64 annualized dividend and a yield of 1.13%. Pinnacle Financial Partners’s dividend payout ratio is currently 13.50%.
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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