Analysts Anticipate Pinnacle Financial Partners, Inc. (PNFP) Will Announce Quarterly Sales of $221.93 Million

Wall Street analysts expect that Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) will report sales of $221.93 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Pinnacle Financial Partners’ earnings, with the lowest sales estimate coming in at $220.70 million and the highest estimate coming in at $223.00 million. Pinnacle Financial Partners reported sales of $120.16 million during the same quarter last year, which indicates a positive year over year growth rate of 84.7%. The firm is scheduled to issue its next earnings results on Tuesday, January 16th.

According to Zacks, analysts expect that Pinnacle Financial Partners will report full-year sales of $221.93 million for the current fiscal year, with estimates ranging from $697.70 million to $700.00 million. For the next fiscal year, analysts anticipate that the business will report sales of $930.53 million per share, with estimates ranging from $925.90 million to $935.50 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Pinnacle Financial Partners.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its earnings results on Tuesday, October 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.01. Pinnacle Financial Partners had a return on equity of 7.36% and a net margin of 27.41%. The business had revenue of $216.20 million during the quarter, compared to analysts’ expectations of $217.13 million. During the same quarter last year, the business posted $0.78 earnings per share. The company’s quarterly revenue was up 102.8% on a year-over-year basis.

Several research analysts recently weighed in on PNFP shares. SunTrust Banks reaffirmed a “buy” rating and set a $74.00 target price on shares of Pinnacle Financial Partners in a research note on Friday, October 20th. Hilliard Lyons raised Pinnacle Financial Partners from a “neutral” rating to a “buy” rating and set a $71.00 target price for the company in a research note on Wednesday, August 23rd. 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. BidaskClub cut Pinnacle Financial Partners from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Finally, Zacks Investment Research raised Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Friday, October 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Pinnacle Financial Partners currently has an average rating of “Hold” and a consensus target price of $73.75.

Pinnacle Financial Partners (PNFP) opened at $68.25 on Friday. Pinnacle Financial Partners has a 52 week low of $58.40 and a 52 week high of $71.85. The firm has a market capitalization of $5,304.59, a PE ratio of 20.07, a P/E/G ratio of 1.60 and a beta of 1.31. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.57.

The business also recently announced a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Friday, November 3rd were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend was Thursday, November 2nd. Pinnacle Financial Partners’s dividend payout ratio is 17.34%.

In other news, Vice Chairman Ronald L. Samuel sold 3,000 shares of the company’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $64.41, for a total transaction of $193,230.00. Following the completion of the sale, the insider now directly owns 58,794 shares of the company’s stock, valued at $3,786,921.54. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph C. Galante bought 1,000 shares of Pinnacle Financial Partners stock in a transaction dated Thursday, September 7th. The shares were bought at an average cost of $59.40 per share, with a total value of $59,400.00. Following the completion of 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. Over the last ninety days, insiders have sold 66,711 shares of company stock valued at $4,483,257. 5.41% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. lifted its stake in Pinnacle Financial Partners by 14.5% in the 2nd quarter. Advisor Group Inc. now owns 2,294 shares of the financial services provider’s stock worth $144,000 after acquiring an additional 291 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Pinnacle Financial Partners by 61.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,464 shares of the financial services provider’s stock worth $155,000 after acquiring an additional 935 shares in the last quarter. Creative Planning lifted its stake in Pinnacle Financial Partners by 100.2% in the 2nd quarter. Creative Planning now owns 3,218 shares of the financial services provider’s stock worth $202,000 after acquiring an additional 1,611 shares in the last quarter. Riverhead Capital Management LLC lifted its stake in Pinnacle Financial Partners by 149.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,496 shares of the financial services provider’s stock worth $220,000 after acquiring an additional 2,096 shares in the last quarter. Finally, South State Corp purchased a new stake in Pinnacle Financial Partners in the 2nd quarter worth about $223,000. 71.80% of the stock is owned by hedge funds and other institutional investors.

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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.

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Earnings History and Estimates for Pinnacle Financial Partners (NASDAQ:PNFP)

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