$246.00 Million in Sales Expected for Pinnacle Financial Partners (PNFP) This Quarter

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Wall Street brokerages forecast that Pinnacle Financial Partners (NASDAQ:PNFP) will announce sales of $246.00 million for the current quarter, Zacks reports. Five analysts have issued estimates for Pinnacle Financial Partners’ earnings, with the highest sales estimate coming in at $250.12 million and the lowest estimate coming in at $243.20 million. Pinnacle Financial Partners posted sales of $211.22 million in the same quarter last year, which suggests a positive year-over-year growth rate of 16.5%. The firm is expected to report its next earnings report on Tuesday, January 15th.

According to Zacks, analysts expect that Pinnacle Financial Partners will report full year sales of $935.70 million for the current financial year, with estimates ranging from $932.90 million to $939.81 million. For the next fiscal year, analysts expect that the company will post sales of $1.02 billion, with estimates ranging from $1.01 billion to $1.04 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Pinnacle Financial Partners.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings data on Tuesday, October 16th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.02. The company had revenue of $240.90 million for the quarter, compared to analyst estimates of $236.67 million. Pinnacle Financial Partners had a net margin of 26.97% and a return on equity of 9.09%. During the same period last year, the company posted $0.90 earnings per share.

Several brokerages have weighed in on PNFP. BidaskClub downgraded shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research note on Saturday, September 29th. Zacks Investment Research downgraded shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, September 19th. Stephens restated a “buy” rating and issued a $74.00 target price on shares of Pinnacle Financial Partners in a research note on Wednesday, October 3rd. ValuEngine downgraded shares of Pinnacle Financial Partners from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 17th. Finally, Raymond James lowered their target price on shares of Pinnacle Financial Partners from $72.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, October 18th. Three analysts have rated the stock with a sell rating and eleven have issued a buy rating to the company’s stock. Pinnacle Financial Partners has an average rating of “Buy” and an average price target of $70.67.

PNFP stock traded up $0.38 during trading on Thursday, hitting $52.68. 414,900 shares of the company’s stock traded hands, compared to its average volume of 545,299. The firm has a market cap of $4.03 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 0.69 and a beta of 1.02. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.51. Pinnacle Financial Partners has a 1 year low of $49.92 and a 1 year high of $69.95.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Friday, November 2nd will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.21%. This is an increase from Pinnacle Financial Partners’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Thursday, November 1st. Pinnacle Financial Partners’s dividend payout ratio (DPR) is 15.69%.

In other Pinnacle Financial Partners news, Vice Chairman Ronald L. Samuel sold 1,600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $64.21, for a total value of $102,736.00. Following the completion of the sale, the insider now directly owns 29,575 shares in the company, valued at $1,899,010.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.39% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of PNFP. Qube Research & Technologies Ltd acquired a new stake in shares of Pinnacle Financial Partners during the second quarter worth $133,000. Paloma Partners Management Co acquired a new position in Pinnacle Financial Partners during the second quarter valued at $209,000. IFP Advisors Inc lifted its position in Pinnacle Financial Partners by 72.3% during the third quarter. IFP Advisors Inc now owns 5,159 shares of the financial services provider’s stock valued at $310,000 after purchasing an additional 2,164 shares during the period. Brown Advisory Inc. acquired a new position in Pinnacle Financial Partners during the first quarter valued at $345,000. Finally, Signition LP acquired a new position in Pinnacle Financial Partners during the second quarter valued at $351,000. Institutional investors and hedge funds own 77.92% of the company’s stock.

Pinnacle Financial Partners Company Profile

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 and Estimates for Pinnacle Financial Partners (NASDAQ:PNFP)

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