Pinnacle Financial Partners, Inc. (PNFP) to Issue Quarterly Dividend of $0.24 on November 28th

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) declared a quarterly dividend on Tuesday, October 21st. Investors of record on Friday, November 7th will be paid a dividend of 0.24 per share by the financial services provider on Friday, November 28th. This represents a c) dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, November 7th.

Pinnacle Financial Partners has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 1 years. Pinnacle Financial Partners has a dividend payout ratio of 11.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Pinnacle Financial Partners to earn $8.99 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 10.7%.

Pinnacle Financial Partners Price Performance

Shares of NASDAQ PNFP opened at $85.71 on Wednesday. Pinnacle Financial Partners has a twelve month low of $81.57 and a twelve month high of $131.91. The firm has a fifty day simple moving average of $92.55 and a 200 day simple moving average of $100.05. The company has a market capitalization of $6.65 billion, a PE ratio of 10.89 and a beta of 1.02. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.33.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its earnings results on Wednesday, October 15th. The financial services provider reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.22. Pinnacle Financial Partners had a net margin of 19.17% and a return on equity of 9.91%. The business had revenue of $544.80 million during the quarter, compared to the consensus estimate of $526.40 million. During the same quarter last year, the firm earned $1.86 earnings per share. On average, sell-side analysts forecast that Pinnacle Financial Partners will post 7.85 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PNFP shares. Wells Fargo & Company reduced their price objective on shares of Pinnacle Financial Partners from $110.00 to $100.00 and set an “equal weight” rating for the company in a report on Friday, October 17th. Stephens cut their price target on shares of Pinnacle Financial Partners from $104.00 to $97.00 and set an “equal weight” rating for the company in a research note on Friday, October 17th. Wall Street Zen raised shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Citigroup lowered their price target on shares of Pinnacle Financial Partners from $140.00 to $120.00 and set a “buy” rating for the company in a report on Friday, July 25th. Finally, UBS Group decreased their price objective on shares of Pinnacle Financial Partners from $121.00 to $108.00 and set a “neutral” rating for the company in a report on Tuesday, September 2nd. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $110.27.

About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.