Pinnacle Financial Partners (NASDAQ:PNFP) – Investment analysts at Piper Jaffray Companies issued their FY2018 earnings estimates for shares of Pinnacle Financial Partners in a note issued to investors on Tuesday, October 30th. Piper Jaffray Companies analyst B. Rabatin forecasts that the financial services provider will post earnings per share of $4.68 for the year. Piper Jaffray Companies also issued estimates for Pinnacle Financial Partners’ Q4 2018 earnings at $1.26 EPS, Q1 2019 earnings at $1.22 EPS, Q2 2019 earnings at $1.27 EPS, Q3 2019 earnings at $1.30 EPS, Q4 2019 earnings at $1.33 EPS, FY2019 earnings at $5.12 EPS, Q1 2020 earnings at $1.35 EPS, Q2 2020 earnings at $1.37 EPS, Q3 2020 earnings at $1.43 EPS and FY2020 earnings at $5.61 EPS.
A number of other equities research analysts have also issued reports on the stock. BidaskClub lowered shares of Pinnacle Financial Partners from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 24th. SunTrust Banks reduced their target price on shares of Pinnacle Financial Partners to $65.00 and set a “buy” rating on the stock in a report on Thursday, October 18th. Raymond James reduced their target price on shares of Pinnacle Financial Partners from $72.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, October 18th. ValuEngine lowered shares of Pinnacle Financial Partners from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 17th. Finally, Zacks Investment Research lowered shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a report on Saturday, October 6th. Three analysts have rated the stock with a sell rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $70.67.
Pinnacle Financial Partners (NASDAQ:PNFP) last released its earnings results on Tuesday, October 16th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping the Zacks’ 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 in the prior year, the business earned $0.90 EPS.
Large investors have recently made changes to their positions in the business. Qube Research & Technologies Ltd purchased a new stake in shares of Pinnacle Financial Partners in the 2nd quarter valued at approximately $133,000. Paloma Partners Management Co purchased a new stake in shares of Pinnacle Financial Partners in the 2nd quarter valued at approximately $209,000. IFP Advisors Inc increased its position in shares of Pinnacle Financial Partners by 72.3% in the 3rd 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 last quarter. Brown Advisory Inc. purchased a new stake in shares of Pinnacle Financial Partners in the 1st quarter valued at approximately $345,000. Finally, Quantitative Systematic Strategies LLC increased its position in shares of Pinnacle Financial Partners by 25.2% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 5,716 shares of the financial services provider’s stock valued at $351,000 after purchasing an additional 1,150 shares during the last quarter. 77.92% of the stock is currently owned by institutional investors.
In other Pinnacle Financial Partners news, Vice Chairman Ronald L. Samuel sold 1,600 shares of the stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $63.49, for a total value of $101,584.00. Following the sale, the insider now directly owns 27,975 shares of the company’s stock, valued at approximately $1,776,132.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 3.39% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Friday, November 2nd will be given a $0.16 dividend. The ex-dividend date is Thursday, November 1st. This is an increase from Pinnacle Financial Partners’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.22%. Pinnacle Financial Partners’s dividend payout ratio is currently 15.69%.
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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