Equities analysts expect Pinnacle Financial Partners (NASDAQ:PNFP) to report sales of $219.83 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Pinnacle Financial Partners’ earnings. The highest sales estimate is $220.40 million and the lowest is $218.40 million. Pinnacle Financial Partners posted sales of $119.15 million in the same quarter last year, which indicates a positive year over year growth rate of 84.5%. The business is scheduled to announce its next quarterly earnings report on Monday, April 16th.
On average, analysts expect that Pinnacle Financial Partners will report full-year sales of $219.83 million for the current year, with estimates ranging from $927.10 million to $932.68 million. For the next fiscal year, analysts forecast that the firm will post sales of $1.02 billion per share, with estimates ranging from $1.01 billion to $1.04 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Pinnacle Financial Partners.
Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.03. Pinnacle Financial Partners had a net margin of 22.27% and a return on equity of 7.24%. The firm had revenue of $211.20 million for the quarter, compared to analyst estimates of $224.62 million. During the same period last year, the business earned $0.83 EPS. Pinnacle Financial Partners’s revenue for the quarter was down 2.3% compared to the same quarter last year.
Pinnacle Financial Partners (NASDAQ:PNFP) opened at $60.20 on Friday. Pinnacle Financial Partners has a 52-week low of $58.40 and a 52-week high of $71.55. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.99 and a current ratio of 1.00. The stock has a market cap of $4,750.00, a price-to-earnings ratio of 21.50, a price-to-earnings-growth ratio of 0.94 and a beta of 1.13.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 2nd will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Thursday, February 1st. Pinnacle Financial Partners’s payout ratio is currently 20.00%.
In other news, CEO M Terry Turner sold 31,171 shares of Pinnacle Financial Partners stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $67.11, for a total value of $2,091,885.81. Following the sale, the chief executive officer now owns 489,701 shares of the company’s stock, valued at $32,863,834.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of Pinnacle Financial Partners stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $65.96, for a total transaction of $197,880.00. Following the completion of the sale, the insider now directly owns 52,794 shares in the company, valued at approximately $3,482,292.24. The disclosure for this sale can be found here. Insiders have sold a total of 57,044 shares of company stock worth $3,791,760 over the last three months. 5.41% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. MUFG Americas Holdings Corp purchased a new stake in shares of Pinnacle Financial Partners in the fourth quarter valued at about $485,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Pinnacle Financial Partners by 7.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 510,952 shares of the financial services provider’s stock valued at $33,876,000 after acquiring an additional 33,834 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Pinnacle Financial Partners by 17.8% in the fourth quarter. First Trust Advisors LP now owns 447,725 shares of the financial services provider’s stock valued at $29,684,000 after acquiring an additional 67,794 shares in the last quarter. Pinnacle Financial Partners Inc. boosted its holdings in shares of Pinnacle Financial Partners by 2.3% in the fourth quarter. Pinnacle Financial Partners Inc. now owns 1,138,053 shares of the financial services provider’s stock valued at $75,453,000 after acquiring an additional 25,306 shares in the last quarter. Finally, New Mexico Educational Retirement Board purchased a new stake in shares of Pinnacle Financial Partners in the fourth quarter valued at about $1,213,000. 72.78% of the stock is currently owned by institutional investors and hedge funds.
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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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