Zacks: Brokerages Anticipate Pinnacle Financial Partners, Inc. (PNFP) Will Announce Quarterly Sales of $223.10 Million

Brokerages expect Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) to report sales of $223.10 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Pinnacle Financial Partners’ earnings, with estimates ranging from $220.70 million to $226.60 million. Pinnacle Financial Partners posted sales of $120.16 million during the same quarter last year, which suggests a positive year-over-year growth rate of 85.7%. The company is scheduled to report its next earnings report after the market closes on Tuesday, January 16th.

On average, analysts expect that Pinnacle Financial Partners will report full-year sales of $223.10 million for the current fiscal year, with estimates ranging from $697.70 million to $703.59 million. For the next financial year, analysts expect that the company will post sales of $935.56 million per share, with estimates ranging from $925.90 million to $948.43 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Pinnacle Financial Partners.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its earnings results on Tuesday, October 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $216.20 million for the quarter, compared to analysts’ expectations of $217.13 million. During the same period in the previous year, the firm posted $0.78 earnings per share. The business’s revenue was up 102.8% compared to the same quarter last year.

PNFP has been the topic of several research reports. Wells Fargo & Co initiated coverage on Pinnacle Financial Partners in a report on Thursday, December 21st. They issued an “outperform” rating and a $80.00 target price on the stock. BidaskClub raised Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. Zacks Investment Research raised Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a report on Wednesday, December 20th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $74.00 target price on shares of Pinnacle Financial Partners in a report on Thursday, October 19th. Finally, Hilliard Lyons cut Pinnacle Financial Partners from a “buy” rating to a “neutral” rating and set a $74.00 target price on the stock. in a report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $75.17.

In related news, Vice Chairman Ronald L. Samuel sold 3,000 shares of Pinnacle Financial Partners stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $67.20, for a total value of $201,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas R. Sloan sold 15,000 shares of Pinnacle Financial Partners stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $65.97, for a total value of $989,550.00. Following the completion of the transaction, the director now owns 108,257 shares of the company’s stock, valued at approximately $7,141,714.29. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,711 shares of company stock valued at $5,481,177. 5.41% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP purchased a new position in shares of Pinnacle Financial Partners during the third quarter valued at approximately $1,309,000. Neuberger Berman Group LLC boosted its position in shares of Pinnacle Financial Partners by 27.7% during the third quarter. Neuberger Berman Group LLC now owns 19,381 shares of the financial services provider’s stock valued at $1,298,000 after buying an additional 4,200 shares during the period. Walthausen & Co. LLC boosted its position in shares of Pinnacle Financial Partners by 11.2% during the third quarter. Walthausen & Co. LLC now owns 179,687 shares of the financial services provider’s stock valued at $12,030,000 after buying an additional 18,149 shares during the period. California Public Employees Retirement System boosted its position in shares of Pinnacle Financial Partners by 1.2% during the third quarter. California Public Employees Retirement System now owns 263,388 shares of the financial services provider’s stock valued at $17,634,000 after buying an additional 3,057 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Pinnacle Financial Partners by 44.8% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,486 shares of the financial services provider’s stock valued at $300,000 after buying an additional 1,389 shares during the period. Institutional investors own 71.75% of the company’s stock.

Shares of Pinnacle Financial Partners (NASDAQ PNFP) opened at $67.05 on Friday. Pinnacle Financial Partners has a twelve month low of $58.40 and a twelve month high of $71.55. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.99 and a quick ratio of 0.98. The stock has a market capitalization of $5,172.46, a PE ratio of 20.76, a PEG ratio of 1.09 and a beta of 1.31.

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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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