Pinnacle Financial Partners, Inc. Declares Quarterly Dividend of $0.18 (NASDAQ:PNFP)

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) announced a quarterly dividend on Tuesday, July 20th, Zacks reports. Stockholders of record on Friday, August 6th will be given a dividend of 0.18 per share by the financial services provider on Friday, August 27th. This represents a $0.72 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Thursday, August 5th.

Pinnacle Financial Partners has increased its dividend payment by 14.3% over the last three years and has raised its dividend every year for the last 1 years.

NASDAQ:PNFP traded down $1.72 on Thursday, reaching $87.93. The company’s stock had a trading volume of 926 shares, compared to its average volume of 300,966. Pinnacle Financial Partners has a 1-year low of $32.80 and a 1-year high of $96.52. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.33. The stock has a market cap of $6.69 billion, a price-to-earnings ratio of 14.39 and a beta of 1.38. The stock’s 50-day moving average price is $89.14.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its earnings results on Monday, July 19th. The financial services provider reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.24. Pinnacle Financial Partners had a return on equity of 10.47% and a net margin of 34.35%. The business had revenue of $331.43 million for the quarter, compared to analyst estimates of $315.54 million. During the same quarter in the prior year, the company posted $1.28 earnings per share. Pinnacle Financial Partners’s revenue was up 21.1% on a year-over-year basis. As a group, equities research analysts forecast that Pinnacle Financial Partners will post 5.87 earnings per share for the current fiscal year.

A number of research analysts have recently commented on the company. Seaport Global Securities began coverage on Pinnacle Financial Partners in a research note on Friday, May 21st. They issued a “buy” rating and a $103.00 price target for the company. Raymond James reiterated a “market perform” rating on shares of Pinnacle Financial Partners in a research note on Tuesday, April 27th. Truist lifted their price target on Pinnacle Financial Partners from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday. Zacks Investment Research raised shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $101.00 target price on the stock in a research report on Wednesday, June 30th. Finally, Wells Fargo & Company raised shares of Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and set a $105.00 price target on the stock in a report on Wednesday, April 21st. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $93.00.

About Pinnacle Financial Partners

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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Dividend History for Pinnacle Financial Partners (NASDAQ:PNFP)

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