Pinnacle Financial Partners (NASDAQ:PNFP) – Investment analysts at Piper Jaffray Companies issued their FY2018 EPS estimates for Pinnacle Financial Partners in a research note issued to investors on Tuesday, October 30th. Piper Jaffray Companies analyst B. Rabatin expects that the financial services provider will post earnings of $4.68 per share for the year. Piper Jaffray Companies also issued estimates for Pinnacle Financial Partners’ Q4 2018 earnings at $1.26 EPS, Q1 2019 earnings at $1.22 EPS, Q2 2019 earnings at $1.27 EPS, Q3 2019 earnings at $1.30 EPS, Q4 2019 earnings at $1.33 EPS, FY2019 earnings at $5.12 EPS, Q1 2020 earnings at $1.35 EPS, Q2 2020 earnings at $1.37 EPS, Q3 2020 earnings at $1.43 EPS and FY2020 earnings at $5.61 EPS.
Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings data on Tuesday, October 16th. The financial services provider reported $1.21 EPS for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.02. Pinnacle Financial Partners had a net margin of 26.97% and a return on equity of 9.09%. The company had revenue of $240.90 million for the quarter, compared to the consensus estimate of $236.67 million. During the same period in the prior year, the firm posted $0.90 EPS.
A number of other equities research analysts also recently commented on PNFP. Hovde Group reissued an “outperform” rating on shares of Pinnacle Financial Partners in a research report on Thursday, July 5th. BidaskClub downgraded shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, July 17th. Zacks Investment Research downgraded shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. Wells Fargo & Co set a $72.00 price objective on shares of Pinnacle Financial Partners and gave the company a “buy” rating in a research report on Tuesday, October 2nd. Finally, Stephens reissued a “buy” rating and issued a $74.00 price objective on shares of Pinnacle Financial Partners in a research report on Wednesday, October 3rd. Three equities research analysts have rated the stock with a sell rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $70.67.
Shares of NASDAQ:PNFP opened at $52.30 on Thursday. Pinnacle Financial Partners has a 52 week low of $49.92 and a 52 week high of $69.95. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 0.69 and a beta of 1.02.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 2nd will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.22%. This is an increase from Pinnacle Financial Partners’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, November 1st. Pinnacle Financial Partners’s dividend payout ratio (DPR) is 15.69%.
In related news, Vice Chairman Ronald L. Samuel sold 1,600 shares of the stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $64.21, for a total value of $102,736.00. Following the transaction, the insider now directly owns 29,575 shares of the company’s stock, valued at approximately $1,899,010.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.39% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Carroll Financial Associates Inc. grew its position in shares of Pinnacle Financial Partners by 14.9% in the 2nd quarter. Carroll Financial Associates Inc. now owns 6,365 shares of the financial services provider’s stock valued at $390,000 after buying an additional 823 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Pinnacle Financial Partners by 3.0% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 28,958 shares of the financial services provider’s stock worth $1,777,000 after purchasing an additional 832 shares during the period. Envestnet Asset Management Inc. boosted its stake in Pinnacle Financial Partners by 17.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 5,758 shares of the financial services provider’s stock worth $353,000 after purchasing an additional 875 shares during the period. Xact Kapitalforvaltning AB boosted its stake in Pinnacle Financial Partners by 9.9% during the 3rd quarter. Xact Kapitalforvaltning AB now owns 11,095 shares of the financial services provider’s stock worth $667,000 after purchasing an additional 1,000 shares during the period. Finally, Bank of Montreal Can boosted its stake in Pinnacle Financial Partners by 15.2% during the 2nd quarter. Bank of Montreal Can now owns 7,856 shares of the financial services provider’s stock worth $482,000 after purchasing an additional 1,037 shares during the period. 77.92% of the stock is currently owned by hedge funds and other institutional investors.
Pinnacle Financial Partners Company Profile
Pinnacle Financial Partners, Inc operates as a bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The company accepts various deposits, including savings, checking, interest-bearing checking, money market, and certificate of deposit accounts.
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