Brokers Offer Predictions for Pinnacle Financial Partners, Inc.’s FY2017 Earnings (PNFP)
Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) – Investment analysts at FIG Partners increased their FY2017 earnings per share (EPS) estimates for shares of Pinnacle Financial Partners in a report issued on Thursday. FIG Partners analyst B. Martin now expects that the financial services provider will post earnings per share of $3.51 for the year, up from their previous forecast of $3.50. FIG Partners also issued estimates for Pinnacle Financial Partners’ Q4 2017 earnings at $0.94 EPS, Q1 2018 earnings at $1.01 EPS, Q3 2018 earnings at $1.07 EPS and Q4 2018 earnings at $1.10 EPS.
A number of other research analysts have also recently commented on the company. Stephens reaffirmed a “hold” rating and set a $71.00 target price on shares of Pinnacle Financial Partners in a research note on Thursday, July 20th. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $73.00 target price on shares of Pinnacle Financial Partners in a research note on Wednesday, October 4th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $72.00 target price on shares of Pinnacle Financial Partners in a research note on Thursday, October 5th. Zacks Investment Research cut Pinnacle Financial Partners from a “buy” rating to a “sell” rating in a research note on Wednesday, October 11th. Finally, Hilliard Lyons raised Pinnacle Financial Partners from a “neutral” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $73.25.
COPYRIGHT VIOLATION NOTICE: This piece was published by American Banking News and is the sole property of of American Banking News. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of United States & international copyright law. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/23/brokers-offer-predictions-for-pinnacle-financial-partners-inc-s-fy2017-earnings-pnfp.html.
Pinnacle Financial Partners (PNFP) opened at 67.45 on Monday. Pinnacle Financial Partners has a 52-week low of $49.40 and a 52-week high of $71.85. The company has a market cap of $5.24 billion, a PE ratio of 20.74 and a beta of 1.31. The firm’s 50-day moving average price is $64.73 and its 200 day moving average price is $63.56.
Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01. The firm had revenue of $216.20 million for the quarter, compared to analysts’ expectations of $217.13 million. Pinnacle Financial Partners had a return on equity of 7.36% and a net margin of 27.41%. The company’s quarterly revenue was up 102.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.78 EPS.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Friday, November 3rd will be issued a $0.14 dividend. The ex-dividend date is Thursday, November 2nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.83%. Pinnacle Financial Partners’s payout ratio is 17.34%.
In other Pinnacle Financial Partners news, Vice Chairman Ronald L. Samuel sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $60.45, for a total transaction of $181,350.00. Following the completion of the sale, the insider now owns 61,794 shares in the company, valued at $3,735,447.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Joseph C. Galante bought 1,000 shares of the stock in a transaction on Thursday, September 7th. The shares were bought at an average price of $59.40 per share, with a total value of $59,400.00. Following the acquisition, the director now owns 19,011 shares of the company’s stock, valued at $1,129,253.40. The disclosure for this purchase can be found here. Insiders sold 9,000 shares of company stock valued at $572,640 in the last quarter. 5.41% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of PNFP. Advisor Group Inc. lifted its holdings in Pinnacle Financial Partners by 14.5% during the second quarter. Advisor Group Inc. now owns 2,294 shares of the financial services provider’s stock worth $144,000 after buying an additional 291 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in Pinnacle Financial Partners during the first quarter worth $151,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Pinnacle Financial Partners by 61.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,464 shares of the financial services provider’s stock worth $155,000 after buying an additional 935 shares during the period. Sei Investments Co. lifted its holdings in Pinnacle Financial Partners by 270.5% during the first quarter. Sei Investments Co. now owns 2,638 shares of the financial services provider’s stock worth $176,000 after buying an additional 1,926 shares during the period. Finally, Creative Planning lifted its holdings in Pinnacle Financial Partners by 100.2% during the second quarter. Creative Planning now owns 3,218 shares of the financial services provider’s stock worth $202,000 after buying an additional 1,611 shares during the period. Institutional investors own 69.29% 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.