Wall Street brokerages predict that Pinnacle Financial Partners, Inc. (NASDAQ:PNFP – Get Rating) will announce $363.48 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Pinnacle Financial Partners’ earnings, with the lowest sales estimate coming in at $357.00 million and the highest estimate coming in at $373.30 million. Pinnacle Financial Partners posted sales of $331.43 million during the same quarter last year, which suggests a positive year-over-year growth rate of 9.7%. The company is expected to announce its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that Pinnacle Financial Partners will report full year sales of $1.48 billion for the current fiscal year, with estimates ranging from $1.46 billion to $1.52 billion. For the next financial year, analysts forecast that the business will report sales of $1.67 billion, with estimates ranging from $1.64 billion to $1.73 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Pinnacle Financial Partners.
Pinnacle Financial Partners (NASDAQ:PNFP – Get Rating) last announced its quarterly earnings results on Monday, April 18th. The financial services provider reported $1.65 EPS for the quarter, beating the consensus estimate of $1.60 by $0.05. The company had revenue of $342.97 million for the quarter, compared to analyst estimates of $347.34 million. Pinnacle Financial Partners had a net margin of 36.76% and a return on equity of 10.59%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.61 earnings per share.
Shares of PNFP opened at $81.42 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.26. The firm has a market cap of $6.22 billion, a PE ratio of 11.97 and a beta of 1.20. The company’s 50 day simple moving average is $83.12 and its 200-day simple moving average is $93.20. Pinnacle Financial Partners has a 12-month low of $73.60 and a 12-month high of $111.31.
The business also recently declared a quarterly dividend, which was paid on Friday, May 27th. Investors of record on Friday, May 6th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Thursday, May 5th. Pinnacle Financial Partners’s dividend payout ratio is presently 12.94%.
In other Pinnacle Financial Partners news, CAO Hugh M. Queener sold 8,064 shares of the firm’s stock in a transaction on Monday, March 14th. The stock was sold at an average price of $95.20, for a total value of $767,692.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Sawtooth Solutions LLC acquired a new position in shares of Pinnacle Financial Partners during the 1st quarter worth $458,000. BNP Paribas Arbitrage SA raised its stake in shares of Pinnacle Financial Partners by 290.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 72,962 shares of the financial services provider’s stock worth $6,718,000 after buying an additional 54,266 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of Pinnacle Financial Partners by 4.9% during the 1st quarter. Advisors Asset Management Inc. now owns 8,987 shares of the financial services provider’s stock worth $828,000 after buying an additional 422 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of Pinnacle Financial Partners by 135.5% during the 1st quarter. Quantbot Technologies LP now owns 3,759 shares of the financial services provider’s stock worth $346,000 after buying an additional 2,163 shares during the last quarter. Finally, Earnest Partners LLC raised its stake in shares of Pinnacle Financial Partners by 3.9% during the 1st quarter. Earnest Partners LLC now owns 228,015 shares of the financial services provider’s stock worth $20,996,000 after buying an additional 8,569 shares during the last quarter. 80.41% of the stock is owned by institutional investors.
Pinnacle Financial Partners Company Profile (Get Rating)
Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the 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, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts.
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