Pinnacle Financial Partners (PNFP) Set to Announce Earnings on Monday

Pinnacle Financial Partners (NASDAQ:PNFP) is scheduled to be releasing its earnings data after the market closes on Monday, April 15th. Analysts expect Pinnacle Financial Partners to post earnings of $1.53 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its earnings results on Wednesday, January 17th. The financial services provider reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.01. The business had revenue of $396.34 million for the quarter, compared to analysts’ expectations of $416.97 million. Pinnacle Financial Partners had a return on equity of 9.78% and a net margin of 20.17%. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the firm posted $1.76 earnings per share. On average, analysts expect Pinnacle Financial Partners to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Pinnacle Financial Partners Trading Down 0.6 %

Shares of NASDAQ:PNFP opened at $79.95 on Friday. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 11.14 and a beta of 1.08. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.90 and a current ratio of 0.90. The stock’s 50-day simple moving average is $82.56 and its two-hundred day simple moving average is $78.28. Pinnacle Financial Partners has a 52-week low of $43.31 and a 52-week high of $92.33.

Pinnacle Financial Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 2nd were given a $0.22 dividend. The ex-dividend date was Thursday, February 1st. This represents a $0.88 annualized dividend and a yield of 1.10%. Pinnacle Financial Partners’s payout ratio is 12.26%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PNFP. Truist Financial lifted their price objective on Pinnacle Financial Partners from $93.00 to $99.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Jefferies Financial Group lowered their price objective on Pinnacle Financial Partners from $88.00 to $85.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. Stephens reissued an “overweight” rating and issued a $108.00 price target on shares of Pinnacle Financial Partners in a report on Wednesday, January 17th. Barclays began coverage on Pinnacle Financial Partners in a report on Friday, March 8th. They issued an “equal weight” rating and a $93.00 price target on the stock. Finally, UBS Group lowered their price target on Pinnacle Financial Partners from $91.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $92.57.

Insiders Place Their Bets

In other news, CEO M Terry Turner sold 24,057 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $82.22, for a total transaction of $1,977,966.54. Following the transaction, the chief executive officer now owns 294,790 shares of the company’s stock, valued at approximately $24,237,633.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Pinnacle Financial Partners news, CFO Harold R. Carpenter sold 6,306 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $82.22, for a total value of $518,479.32. Following the transaction, the chief financial officer now owns 63,856 shares of the company’s stock, valued at approximately $5,250,240.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO M Terry Turner sold 24,057 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total value of $1,977,966.54. Following the completion of the transaction, the chief executive officer now directly owns 294,790 shares in the company, valued at approximately $24,237,633.80. The disclosure for this sale can be found here. Insiders have sold a total of 54,175 shares of company stock valued at $4,487,253 in the last quarter. 1.87% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pinnacle Financial Partners

Hedge funds have recently bought and sold shares of the business. ICA Group Wealth Management LLC bought a new position in Pinnacle Financial Partners in the 4th quarter valued at $37,000. Coppell Advisory Solutions Corp. bought a new stake in Pinnacle Financial Partners during the fourth quarter valued at about $44,000. Quarry LP boosted its position in Pinnacle Financial Partners by 196.6% during the first quarter. Quarry LP now owns 967 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 641 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Pinnacle Financial Partners in the first quarter worth about $75,000. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Pinnacle Financial Partners in the first quarter worth about $101,000. Institutional investors own 87.40% of the company’s stock.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.