Pinnacle Financial Partners (PNFP) Earning Somewhat Favorable Press Coverage, Study Finds
Headlines about Pinnacle Financial Partners (NASDAQ:PNFP) have been trending somewhat positive on Friday, according to Accern Sentiment Analysis. Accern identifies negative and positive media coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Pinnacle Financial Partners earned a news impact score of 0.11 on Accern’s scale. Accern also assigned media coverage about the financial services provider an impact score of 45.8100080660812 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
Shares of Pinnacle Financial Partners (PNFP) opened at 62.83 on Friday. The company has a market cap of $4.83 billion, a P/E ratio of 20.18 and a beta of 1.29. Pinnacle Financial Partners has a 52 week low of $49.40 and a 52 week high of $71.85. The firm’s 50-day moving average price is $62.01 and its 200 day moving average price is $63.76.
Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.04. The firm had revenue of $141.70 million for the quarter, compared to analyst estimates of $130.23 million. Pinnacle Financial Partners had a return on equity of 7.67% and a net margin of 27.36%. The business’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same period last year, the company earned $0.75 EPS. On average, equities analysts predict that Pinnacle Financial Partners will post $3.47 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 4th were given a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $0.56 dividend on an annualized basis and a yield of 0.89%. Pinnacle Financial Partners’s payout ratio is 18.01%.
Several analysts have weighed in on the company. BidaskClub downgraded Pinnacle Financial Partners from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Hilliard Lyons raised Pinnacle Financial Partners from a “neutral” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Wednesday, August 23rd. Finally, Stephens reaffirmed a “hold” rating and set a $71.00 target price on shares of Pinnacle Financial Partners in a research note on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Pinnacle Financial Partners currently has an average rating of “Hold” and an average price target of $67.00.
In other Pinnacle Financial Partners news, Vice Chairman Ronald L. Samuel sold 3,000 shares of the stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $66.02, for a total value of $198,060.00. Following the transaction, the insider now directly owns 64,794 shares in the company, valued at approximately $4,277,699.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO M Terry Turner sold 101,480 shares of the stock in a transaction on Monday, July 24th. The shares were sold at an average price of $64.82, for a total value of $6,577,933.60. Following the completion of the transaction, the chief executive officer now owns 538,441 shares in the company, valued at $34,901,745.62. The disclosure for this sale can be found here. Insiders sold a total of 110,480 shares of company stock worth $7,143,584 over the last quarter. Corporate insiders own 5.41% of the company’s stock.
Pinnacle Financial Partners Company Profile
Pinnacle Financial Partners, Inc is a bank holding company. The Company operates through its subsidiary, Pinnacle Bank. The Company operates as a community bank primarily in the urban markets of Nashville, Knoxville, Memphis and Chattanooga, Tennessee and other counties. It provides the personalized service associated with small community banks, while seeking to offer the products and services, such as investments and treasury management.
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