Brokerages expect Pinnacle Financial Partners (NASDAQ:PNFP) to announce earnings of $1.28 per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Pinnacle Financial Partners’ earnings, with the lowest EPS estimate coming in at $1.23 and the highest estimate coming in at $1.31. Pinnacle Financial Partners reported earnings of $1.25 per share in the same quarter last year, which indicates a positive year over year growth rate of 2.4%. The business is scheduled to issue its next earnings results on Tuesday, January 21st.
According to Zacks, analysts expect that Pinnacle Financial Partners will report full-year earnings of $5.33 per share for the current financial year, with EPS estimates ranging from $5.31 to $5.35. For the next year, analysts forecast that the company will post earnings of $5.40 per share, with EPS estimates ranging from $5.26 to $5.56. Zacks’ EPS averages are an average based on a survey of analysts that cover Pinnacle Financial Partners.
Pinnacle Financial Partners (NASDAQ:PNFP) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $1.45 EPS for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.10. Pinnacle Financial Partners had a net margin of 30.38% and a return on equity of 9.99%. The business had revenue of $278.43 million for the quarter, compared to the consensus estimate of $267.58 million. During the same quarter last year, the firm posted $1.21 EPS. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year.
Shares of PNFP stock traded down $0.46 during mid-day trading on Thursday, reaching $62.87. The company’s stock had a trading volume of 162,746 shares, compared to its average volume of 234,211. The company’s 50 day simple moving average is $62.84 and its 200-day simple moving average is $58.27. Pinnacle Financial Partners has a 12-month low of $48.81 and a 12-month high of $65.00. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $4.87 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 0.74 and a beta of 1.46.
In related news, Director Gary L. Scott sold 7,000 shares of Pinnacle Financial Partners stock in a transaction on Friday, October 25th. The shares were sold at an average price of $59.75, for a total transaction of $418,250.00. Following the sale, the director now owns 37,587 shares of the company’s stock, valued at approximately $2,245,823.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronald L. Samuel sold 500 shares of Pinnacle Financial Partners stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $58.76, for a total transaction of $29,380.00. Following the sale, the director now directly owns 21,205 shares in the company, valued at approximately $1,246,005.80. The disclosure for this sale can be found here. Insiders have sold a total of 43,601 shares of company stock worth $2,632,194 in the last ninety days. 2.97% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PNFP. Cerebellum GP LLC bought a new stake in shares of Pinnacle Financial Partners in the 3rd quarter worth about $29,000. Synovus Financial Corp increased its position in shares of Pinnacle Financial Partners by 529.1% in the 3rd quarter. Synovus Financial Corp now owns 1,189 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 1,000 shares during the last quarter. Valeo Financial Advisors LLC increased its position in shares of Pinnacle Financial Partners by 43.6% in the 3rd quarter. Valeo Financial Advisors LLC now owns 1,719 shares of the financial services provider’s stock worth $98,000 after purchasing an additional 522 shares during the last quarter. Ellington Management Group LLC bought a new stake in shares of Pinnacle Financial Partners in the 2nd quarter worth about $201,000. Finally, Gibson Capital LLC bought a new stake in shares of Pinnacle Financial Partners in the 3rd quarter worth about $204,000. 78.52% of the stock is owned by institutional investors.
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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