Pinnacle Financial Partners (PNFP) Expected to Announce Earnings of $1.20 Per Share
Equities analysts forecast that Pinnacle Financial Partners (NASDAQ:PNFP) will announce earnings of $1.20 per share for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Pinnacle Financial Partners’ earnings, with the lowest EPS estimate coming in at $1.19 and the highest estimate coming in at $1.22. Pinnacle Financial Partners posted earnings of $0.90 per share during the same quarter last year, which indicates a positive year over year growth rate of 33.3%. The business is expected to announce its next quarterly earnings report on Tuesday, October 16th.
According to Zacks, analysts expect that Pinnacle Financial Partners will report full year earnings of $4.71 per share for the current financial year, with EPS estimates ranging from $4.65 to $4.76. For the next year, analysts anticipate that the company will post earnings of $5.18 per share, with EPS estimates ranging from $5.10 to $5.25. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover Pinnacle Financial Partners.
Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings results on Tuesday, July 17th. The financial services provider reported $1.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.01. Pinnacle Financial Partners had a return on equity of 8.59% and a net margin of 25.54%. The company had revenue of $230.20 million for the quarter, compared to analysts’ expectations of $229.16 million. During the same period last year, the firm earned $0.84 earnings per share. Pinnacle Financial Partners’s quarterly revenue was up 62.5% on a year-over-year basis.
In other Pinnacle Financial Partners news, Vice Chairman Ronald L. Samuel sold 1,600 shares of the firm’s stock in a transaction on Tuesday, July 24th. The stock was sold at an average price of $62.90, for a total value of $100,640.00. Following the sale, the insider now directly owns 31,175 shares in the company, valued at $1,960,907.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 4,800 shares of company stock worth $304,704. 3.39% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Highlander Capital Management LLC acquired a new stake in shares of Pinnacle Financial Partners during the first quarter worth about $124,000. Qube Research & Technologies Ltd acquired a new stake in shares of Pinnacle Financial Partners during the second quarter worth about $133,000. ING Groep NV acquired a new stake in shares of Pinnacle Financial Partners during the first quarter worth about $203,000. Paloma Partners Management Co acquired a new stake in shares of Pinnacle Financial Partners during the second quarter worth about $209,000. Finally, Brown Advisory Inc. acquired a new stake in shares of Pinnacle Financial Partners during the first quarter worth about $345,000. Institutional investors and hedge funds own 77.89% of the company’s stock.
Pinnacle Financial Partners stock traded up $0.05 during midday trading on Friday, reaching $64.55. The company’s stock had a trading volume of 304,500 shares, compared to its average volume of 520,933. Pinnacle Financial Partners has a fifty-two week low of $58.40 and a fifty-two week high of $69.95. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.98. The stock has a market cap of $5.07 billion, a PE ratio of 18.00, a P/E/G ratio of 0.99 and a beta of 1.02.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 31st. Shareholders of record on Friday, August 3rd were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Thursday, August 2nd. Pinnacle Financial Partners’s dividend payout ratio is presently 15.69%.
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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