Pinnacle Financial Partners Inc. (PNFP) Set to Announce Quarterly Earnings on Tuesday
Pinnacle Financial Partners Inc. (NASDAQ:PNFP) is set to post its Q316 quarterly earnings results on Tuesday, October 18th. Analysts expect Pinnacle Financial Partners to post earnings of $0.78 per share and revenue of $22.11 million for the quarter.
Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.75. Pinnacle Financial Partners had a net margin of 26.36% and a return on equity of 9.58%. On average, analysts expect Pinnacle Financial Partners to post $3.06 EPS for the current fiscal year and $3.48 EPS for the next fiscal year.
Shares of Pinnacle Financial Partners Inc. (NASDAQ:PNFP) opened at 53.73 on Monday. Pinnacle Financial Partners Inc. has a 52 week low of $43.32 and a 52 week high of $57.99. The firm has a market cap of $2.23 billion, a P/E ratio of 19.97 and a beta of 1.54. The stock has a 50 day moving average of $55.29 and a 200 day moving average of $51.62.
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Several research firms have recently weighed in on PNFP. Zacks Investment Research upgraded Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a report on Tuesday, October 11th. Sandler O’Neill cut Pinnacle Financial Partners from a “buy” rating to a “hold” rating and set a $60.00 price objective on the stock. in a report on Tuesday, September 13th. SunTrust Banks Inc. boosted their target price on Pinnacle Financial Partners from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, July 15th. Finally, Piper Jaffray Cos. upgraded Pinnacle Financial Partners from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $51.00 to $60.00 in a research note on Tuesday, July 12th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $57.00.
In other news, Director William H. Iv Huddleston sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $53.96, for a total transaction of $539,600.00. Following the sale, the director now owns 55,863 shares in the company, valued at approximately $3,014,367.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 6.30% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Advisor Group Inc. bought a new stake in shares of Pinnacle Financial Partners during the second quarter worth about $111,000. Profund Advisors LLC raised its position in Pinnacle Financial Partners by 2.3% in the second quarter. Profund Advisors LLC now owns 5,289 shares of the financial services provider’s stock worth $258,000 after buying an additional 119 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in Pinnacle Financial Partners during the second quarter worth $295,000. Barclays PLC raised its position in Pinnacle Financial Partners by 657.9% in the second quarter. Barclays PLC now owns 6,200 shares of the financial services provider’s stock worth $303,000 after buying an additional 5,382 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in Pinnacle Financial Partners by 5.2% in the second quarter. ProShare Advisors LLC now owns 6,277 shares of the financial services provider’s stock worth $307,000 after buying an additional 312 shares during the last quarter. Institutional investors own 63.99% of the company’s stock.
About Pinnacle Financial Partners
Pinnacle Financial Partners, Inc (Pinnacle) is a bank holding company. Pinnacle operates through its subsidiary, Pinnacle Bank. The Company operates as a community bank primarily in the urban markets of Nashville and Knoxville, Tennessee. As an urban community bank, Pinnacle provides the personalized service associated with small community banks, while seeking to offer the products and services, such as investments and treasury management, offered by large regional and national banks.
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