Pinnacle Financial Partners (NASDAQ:PNFP) – Equities research analysts at SunTrust Banks increased their Q1 2018 earnings per share estimates for Pinnacle Financial Partners in a research note issued to investors on Wednesday. SunTrust Banks analyst J. Demba now forecasts that the financial services provider will earn $1.10 per share for the quarter, up from their prior estimate of $1.08. SunTrust Banks currently has a “Buy” rating and a $80.00 target price on the stock. SunTrust Banks also issued estimates for Pinnacle Financial Partners’ FY2019 earnings at $5.30 EPS.
Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.03. The firm had revenue of $211.20 million for the quarter, compared to analysts’ expectations of $224.62 million. Pinnacle Financial Partners had a return on equity of 7.24% and a net margin of 22.27%. The company’s revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.83 earnings per share.
Pinnacle Financial Partners (NASDAQ PNFP) traded down $0.75 during mid-day trading on Friday, hitting $64.30. 779,600 shares of the company traded hands, compared to its average volume of 563,050. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.98 and a current ratio of 1.00. The company has a market capitalization of $5,055.87, a PE ratio of 22.96, a price-to-earnings-growth ratio of 0.99 and a beta of 1.31. Pinnacle Financial Partners has a one year low of $58.40 and a one year high of $71.55.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 2nd will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Thursday, February 1st. Pinnacle Financial Partners’s dividend payout ratio is currently 20.00%.
In other Pinnacle Financial Partners news, Director Thomas R. Sloan sold 15,000 shares of the company’s stock in a transaction that occurred on 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 sale, the director now owns 108,257 shares of the company’s stock, valued at $7,141,714.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $67.28, for a total value of $201,840.00. Following the completion of the sale, the insider now directly owns 55,794 shares of the company’s stock, valued at approximately $3,753,820.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,171 shares of company stock valued at $3,682,756. 5.41% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its stake in shares of Pinnacle Financial Partners by 7.8% during the second quarter. Wells Fargo & Company MN now owns 307,772 shares of the financial services provider’s stock valued at $19,329,000 after purchasing an additional 22,181 shares during the period. Suntrust Banks Inc. purchased a new stake in shares of Pinnacle Financial Partners during the second quarter valued at approximately $556,000. ETRADE Capital Management LLC boosted its stake in shares of Pinnacle Financial Partners by 49.9% during the third quarter. ETRADE Capital Management LLC now owns 23,048 shares of the financial services provider’s stock valued at $1,543,000 after purchasing an additional 7,668 shares during the period. Maple Capital Management Inc. purchased a new stake in Pinnacle Financial Partners in the third quarter worth $624,000. Finally, Pacer Advisors Inc. purchased a new stake in Pinnacle Financial Partners in the third quarter worth $829,000. 71.77% of the stock is owned by hedge funds and other institutional investors.
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About Pinnacle Financial Partners
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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