Analysts Expect Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) to Post $1.45 EPS

Equities analysts expect that Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) will post $1.45 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Pinnacle Financial Partners’ earnings. The lowest EPS estimate is $1.39 and the highest is $1.53. Pinnacle Financial Partners also posted earnings per share of $1.45 during the same quarter last year. The business is expected to report its next quarterly earnings report on Tuesday, October 19th.

On average, analysts expect that Pinnacle Financial Partners will report full-year earnings of $5.87 per share for the current financial year, with EPS estimates ranging from $5.73 to $6.15. For the next year, analysts forecast that the company will report earnings of $5.71 per share, with EPS estimates ranging from $5.30 to $6.16. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that that provide coverage for Pinnacle Financial Partners.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings results on Monday, July 19th. The financial services provider reported $1.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.24. The company had revenue of $331.43 million during the quarter, compared to analyst estimates of $315.54 million. Pinnacle Financial Partners had a net margin of 34.35% and a return on equity of 10.47%. Pinnacle Financial Partners’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period last year, the business earned $1.28 EPS.

PNFP has been the subject of a number of analyst reports. Seaport Global Securities started coverage on shares of Pinnacle Financial Partners in a research note on Friday, May 21st. They set a “buy” rating and a $103.00 price objective for the company. Zacks Investment Research upgraded shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $101.00 price target for the company in a research note on Wednesday, June 30th. Wells Fargo & Company upgraded shares of Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and set a $105.00 price target for the company in a research note on Wednesday, April 21st. Seaport Res Ptn reissued a “buy” rating on shares of Pinnacle Financial Partners in a report on Friday, May 21st. Finally, Truist raised their price objective on shares of Pinnacle Financial Partners from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $93.00.

NASDAQ:PNFP traded down $2.47 on Thursday, reaching $87.18. 4,723 shares of the stock traded hands, compared to its average volume of 300,966. The firm has a market capitalization of $6.63 billion, a P/E ratio of 14.21 and a beta of 1.38. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.33. Pinnacle Financial Partners has a 12 month low of $32.80 and a 12 month high of $96.52. The stock’s fifty day moving average is $89.14.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 27th. Shareholders of record on Friday, August 6th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.83%. The ex-dividend date is Thursday, August 5th. Pinnacle Financial Partners’s dividend payout ratio is currently 16.74%.

Large investors have recently modified their holdings of the business. Harvest Fund Management Co. Ltd purchased a new position in Pinnacle Financial Partners during the first quarter valued at approximately $46,000. Montag A & Associates Inc. purchased a new position in Pinnacle Financial Partners during the fourth quarter valued at approximately $49,000. CWM LLC lifted its holdings in Pinnacle Financial Partners by 48.1% during the first quarter. CWM LLC now owns 659 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 214 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Pinnacle Financial Partners by 100.0% during the first quarter. International Assets Investment Management LLC now owns 900 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 450 shares in the last quarter. Finally, Concord Wealth Partners bought a new stake in shares of Pinnacle Financial Partners during the fourth quarter valued at approximately $107,000. 80.30% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the 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, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts.

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Earnings History and Estimates for Pinnacle Financial Partners (NASDAQ:PNFP)

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