Pinnacle Financial Partners (PNFP) Posts Earnings Results, Beats Estimates By $0.03 EPS
Pinnacle Financial Partners (NASDAQ:PNFP) issued its earnings results on Tuesday. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03, Briefing.com reports. The company had revenue of $211.20 million for the quarter, compared to the consensus estimate of $224.62 million. Pinnacle Financial Partners had a return on equity of 7.36% and a net margin of 27.41%. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 EPS.
Shares of Pinnacle Financial Partners (PNFP) traded down $0.70 during midday trading on Wednesday, hitting $67.85. The company had a trading volume of 699,700 shares, compared to its average volume of 459,120. The company has a market cap of $5,060.00, a PE ratio of 20.94, a price-to-earnings-growth ratio of 1.04 and a beta of 1.31. Pinnacle Financial Partners has a 1-year low of $58.40 and a 1-year high of $71.55. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.57.
A number of equities analysts have recently weighed in on the company. BidaskClub downgraded Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. Hilliard Lyons upgraded Pinnacle Financial Partners from a “neutral” rating to a “buy” rating in a report on Wednesday, November 8th. SunTrust Banks reiterated a “buy” rating and issued a $74.00 target price on shares of Pinnacle Financial Partners in a report on Friday, October 20th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $72.00 target price on shares of Pinnacle Financial Partners in a report on Thursday, October 5th. Finally, Zacks Investment Research upgraded Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a report on Friday, October 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $75.17.
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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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