FIG Partners Equities Analysts Increase Earnings Estimates for Pinnacle Financial Partners, Inc. (PNFP)
Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) – Stock analysts at FIG Partners raised their Q3 2017 EPS estimates for Pinnacle Financial Partners in a research note issued on Monday. FIG Partners analyst B. Martin now forecasts that the financial services provider will earn $0.90 per share for the quarter, up from their prior forecast of $0.84.
Several other research firms have also weighed in on PNFP. BidaskClub upgraded Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Stephens reiterated a “hold” rating and issued a $71.00 price objective on shares of Pinnacle Financial Partners in a research note on Thursday, July 20th. Hilliard Lyons reiterated a “neutral” rating and issued a $69.00 price objective (down from $71.00) on shares of Pinnacle Financial Partners in a research note on Saturday, April 22nd. Finally, Zacks Investment Research lowered Pinnacle Financial Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, April 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $65.20.
Pinnacle Financial Partners (PNFP) opened at 66.175 on Wednesday. Pinnacle Financial Partners has a 52-week low of $49.40 and a 52-week high of $71.85. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 21.258 and a beta of 1.28. The company’s 50-day moving average price is $64.15 and its 200-day moving average price is $65.15.
Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.04. Pinnacle Financial Partners had a return on equity of 7.67% and a net margin of 27.36%. The business had revenue of $141.70 million during the quarter, compared to analyst estimates of $130.23 million. During the same quarter in the previous year, the firm posted $0.75 EPS. The business’s revenue for the quarter was up 31.4% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, August 4th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $0.56 annualized dividend and a dividend yield of 0.85%. Pinnacle Financial Partners’s dividend payout ratio is currently 18.01%.
In related news, Director Joseph C. Galante acquired 1,000 shares of the stock in a transaction dated Wednesday, May 31st. The shares were bought at an average cost of $59.73 per share, for a total transaction of $59,730.00. Following the purchase, the director now owns 18,511 shares in the company, valued at approximately $1,105,662.03. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO M Terry Turner sold 101,480 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $64.82, for a total value of $6,577,933.60. Following the sale, 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. Over the last quarter, insiders bought 1,425 shares of company stock worth $86,180. Corporate insiders own 5.41% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Creative Planning acquired a new stake in Pinnacle Financial Partners during the first quarter worth approximately $107,000. Glen Harbor Capital Management LLC raised its stake in Pinnacle Financial Partners by 6.8% in the first quarter. Glen Harbor Capital Management LLC now owns 1,716 shares of the financial services provider’s stock worth $114,000 after buying an additional 110 shares during the period. Founders Capital Management acquired a new stake in Pinnacle Financial Partners during the first quarter worth approximately $135,000. Elkfork Partners LLC raised its stake in Pinnacle Financial Partners by 6.8% in the first quarter. Elkfork Partners LLC now owns 2,184 shares of the financial services provider’s stock worth $145,000 after buying an additional 140 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Pinnacle Financial Partners during the first quarter worth approximately $151,000. Institutional investors and hedge funds own 77.71% 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.
Receive News & Ratings for Pinnacle Financial Partners Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle Financial Partners Inc. and related companies with MarketBeat.com's FREE daily email newsletter.