Pinnacle Financial Partners (NYSE:PNFP) Posts Earnings Results

Pinnacle Financial Partners (NYSE:PNFP) released its quarterly earnings results on Wednesday. The company reported $2.69 EPS for the quarter, beating the consensus estimate of $2.62 by $0.07, FiscalAI reports. Pinnacle Financial Partners had a net margin of 15.40% and a return on equity of 10.93%. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.28 billion.

Pinnacle Financial Partners Stock Performance

Shares of NYSE PNFP opened at $98.09 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.93 and a current ratio of 0.94. The company has a market cap of $7.61 billion, a P/E ratio of 13.47, a P/E/G ratio of 0.39 and a beta of 1.03. The firm’s fifty day moving average is $98.09 and its two-hundred day moving average is $98.17. Pinnacle Financial Partners has a 52-week low of $81.08 and a 52-week high of $110.33.

Pinnacle Financial Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 7th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, August 7th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 27.47%.

Insider Activity at Pinnacle Financial Partners

In other news, CEO Kevin S. Blair bought 2,565 shares of Pinnacle Financial Partners stock in a transaction dated Tuesday, September 1st. The shares were purchased at an average cost of $97.48 per share, with a total value of $250,036.20. Following the completion of the acquisition, the chief executive officer owned 152,397 shares of the company’s stock, valued at $14,855,659.56. This trade represents a 1.71% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory G. Montana bought 500 shares of Pinnacle Financial Partners stock in a transaction dated Thursday, September 10th. The stock was purchased at an average cost of $98.61 per share, for a total transaction of $49,305.00. Following the completion of the acquisition, the director directly owned 4,959 shares of the company’s stock, valued at approximately $489,006.99. The trade was a 11.21% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have acquired 13,078 shares of company stock worth $1,299,640 and have sold 177,228 shares worth $19,153,713. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PNFP. TD Cowen dropped their price objective on shares of Pinnacle Financial Partners from $119.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, October 5th. Truist Financial reduced their target price on shares of Pinnacle Financial Partners from $118.00 to $112.00 and set a “buy” rating for the company in a report on Friday, October 9th. Benchmark increased their price target on shares of Pinnacle Financial Partners from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Evercore set a $108.00 price target on shares of Pinnacle Financial Partners in a research report on Thursday, October 1st. Finally, Weiss Ratings upgraded shares of Pinnacle Financial Partners from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $118.47.

More Pinnacle Financial Partners News

Here are the key news stories impacting Pinnacle Financial Partners this week:

• Positive Sentiment: Third-quarter earnings were $2.69 per diluted share, exceeding consensus estimates of approximately $2.61–$2.62 and rising from $2.27 a year earlier. Pinnacle Financial surpasses Q3 earnings and revenue estimates
• Positive Sentiment: Quarterly revenue reached approximately $1.31 billion to $1.32 billion, ahead of the $1.28 billion FactSet and analyst estimate, indicating stronger-than-expected operating performance. Pinnacle Financial Q3 revenue earnings flash
• Positive Sentiment: The bank reported a 15.40% net margin and 10.93% return on equity, supporting the view that profitability remained solid during the quarter. Pinnacle Financial Partners quarterly results
• Neutral Sentiment: Trading in PNFP was temporarily halted while the earnings news was pending, highlighting the market’s immediate focus on the quarterly release. Pinnacle Financial Partners announces third-quarter earnings

About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc is a bank holding company headquartered in Nashville, Tennessee. Through its primary subsidiary, Pinnacle Bank, the company provides banking and financial services to businesses, professionals, entrepreneurs and individuals.

Its offerings include commercial and consumer loans, deposit accounts, treasury and cash-management services, mortgage lending, investment and wealth-management services, trust services and insurance solutions. Pinnacle emphasizes relationship-based banking and serves clients through offices and financial professionals in Tennessee and selected markets in the Carolinas and Virginia.

Founded in 2000, Pinnacle has expanded from its Nashville base into a broader regional banking franchise through organic growth and acquisitions.