Pinnacle Financial Partners, Inc. (PNFP) to Issue Quarterly Dividend of $0.50 on November 27th

Pinnacle Financial Partners, Inc. (NYSE:PNFP) declared a quarterly dividend on Monday, October 26th. Shareholders of record on Friday, November 6th will be paid a dividend of $0.50 per share on Friday, November 27th. This represents a $2.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, November 6th.

Pinnacle Financial Partners has increased its dividend payment by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Pinnacle Financial Partners has a payout ratio of 23.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Pinnacle Financial Partners to earn $11.51 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 17.4%.

Pinnacle Financial Partners Stock Down 0.6%

PNFP stock opened at $99.75 on Wednesday. Pinnacle Financial Partners has a 52 week low of $81.08 and a 52 week high of $110.33. The firm has a 50 day moving average of $97.64 and a 200 day moving average of $96.72. The stock has a market capitalization of $7.74 billion, a PE ratio of 13.32 and a beta of 1.03.

Pinnacle Financial Partners (NYSE:PNFP) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $2.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.07. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.28 billion. On average, equities research analysts expect that Pinnacle Financial Partners will post 10.22 earnings per share for the current year.

About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc is a bank holding company headquartered in Nashville, Tennessee. Through its primary subsidiary, Pinnacle Bank, the company provides banking and financial services to businesses, professionals, entrepreneurs and individuals.

Its offerings include commercial and consumer loans, deposit accounts, treasury and cash-management services, mortgage lending, investment and wealth-management services, trust services and insurance solutions. Pinnacle emphasizes relationship-based banking and serves clients through offices and financial professionals in Tennessee and selected markets in the Carolinas and Virginia.

Founded in 2000, Pinnacle has expanded from its Nashville base into a broader regional banking franchise through organic growth and acquisitions.