Research Analysts Issue Forecasts for Pinnacle Financial Partners’ Q1 2019 Earnings (PNFP)

Pinnacle Financial Partners (NASDAQ:PNFP) – Analysts at SunTrust Banks issued their Q1 2019 earnings per share (EPS) estimates for shares of Pinnacle Financial Partners in a research report issued to clients and investors on Monday, April 16th. SunTrust Banks analyst J. Demba anticipates that the financial services provider will post earnings of $1.23 per share for the quarter. SunTrust Banks currently has a “Positive” rating and a $73.00 target price on the stock. SunTrust Banks also issued estimates for Pinnacle Financial Partners’ Q2 2019 earnings at $1.28 EPS, Q3 2019 earnings at $1.37 EPS and Q4 2019 earnings at $1.42 EPS.

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A number of other brokerages have also commented on PNFP. FIG Partners upgraded Pinnacle Financial Partners from a “market perform” rating to an “outperform” rating in a research note on Wednesday. Wells Fargo started coverage on Pinnacle Financial Partners in a research note on Thursday, December 21st. They issued an “outperform” rating and a $80.00 target price for the company. BidaskClub upgraded Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Zacks Investment Research upgraded Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a research note on Wednesday, December 20th. Finally, Hovde Group upgraded Pinnacle Financial Partners from a “market perform” rating to an “outperform” rating and set a $72.00 target price for the company in a research note on Wednesday. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $72.22.

PNFP opened at $61.80 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.00 and a quick ratio of 0.99. The company has a market capitalization of $4,980.88, a PE ratio of 17.31, a price-to-earnings-growth ratio of 0.97 and a beta of 1.04. Pinnacle Financial Partners has a 1-year low of $58.40 and a 1-year high of $70.30.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Monday, April 16th. The financial services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.03. Pinnacle Financial Partners had a net margin of 24.09% and a return on equity of 7.56%. The business had revenue of $218.60 million during the quarter, compared to the consensus estimate of $220.48 million. During the same quarter in the prior year, the company posted $0.83 earnings per share. The company’s quarterly revenue was up 83.5% compared to the same quarter last year.

In other news, CFO Harold R. Carpenter sold 11,835 shares of the firm’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $68.44, for a total transaction of $809,987.40. Following the sale, the chief financial officer now owns 99,021 shares of the company’s stock, valued at $6,776,997.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, March 27th. The stock was sold at an average price of $63.03, for a total value of $189,090.00. Following the sale, the insider now directly owns 40,375 shares in the company, valued at approximately $2,544,836.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 102,711 shares of company stock worth $6,908,315. Company insiders own 3.39% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Pinnacle Financial Partners by 1.0% during the fourth quarter. BlackRock Inc. now owns 6,050,010 shares of the financial services provider’s stock worth $401,116,000 after purchasing an additional 59,719 shares during the period. Jennison Associates LLC increased its position in shares of Pinnacle Financial Partners by 51.7% during the 4th quarter. Jennison Associates LLC now owns 2,861,331 shares of the financial services provider’s stock worth $189,706,000 after purchasing an additional 974,772 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Pinnacle Financial Partners by 0.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,725,348 shares of the financial services provider’s stock worth $114,390,000 after purchasing an additional 7,720 shares during the last quarter. Pinnacle Financial Partners Inc. increased its position in shares of Pinnacle Financial Partners by 2.3% during the 4th quarter. Pinnacle Financial Partners Inc. now owns 1,138,053 shares of the financial services provider’s stock worth $75,453,000 after purchasing an additional 25,306 shares during the last quarter. Finally, Virtus Fund Advisers LLC increased its position in shares of Pinnacle Financial Partners by 31.0% during the 4th quarter. Virtus Fund Advisers LLC now owns 851,450 shares of the financial services provider’s stock worth $56,451,000 after purchasing an additional 201,325 shares during the last quarter. 72.17% of the stock is currently owned by institutional investors.

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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.

Earnings History and Estimates for Pinnacle Financial Partners (NASDAQ:PNFP)

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