Pinnacle Financial Partners (NASDAQ:PNFP) Announces Earnings Results, Beats Expectations By $0.07 EPS

by · The Markets Daily

Pinnacle Financial Partners (NASDAQ:PNFP – Get Free Report) issued its quarterly earnings data on Tuesday. The financial services provider reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.07, Yahoo Finance reports. The firm had revenue of $810.11 million during the quarter, compared to the consensus estimate of $454.18 million. Pinnacle Financial Partners had a return on equity of 8.97% and a net margin of 13.93%. During the same quarter in the previous year, the company posted $1.79 EPS.

Pinnacle Financial Partners Stock Up 4.9 %

Pinnacle Financial Partners stock opened at $105.47 on Thursday. The company has a fifty day simple moving average of $95.27 and a 200 day simple moving average of $86.79. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. Pinnacle Financial Partners has a 1-year low of $59.66 and a 1-year high of $106.62. The company has a market cap of $8.14 billion, a P/E ratio of 15.09 and a beta of 1.05.

Pinnacle Financial Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 1st will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Friday, November 1st. Pinnacle Financial Partners’s payout ratio is 12.59%.

Wall Street Analysts Forecast Growth

PNFP has been the subject of a number of research analyst reports. Wells Fargo & Company cut Pinnacle Financial Partners from an “overweight” rating to an “equal weight” rating and set a $100.00 price target for the company. in a report on Tuesday, October 1st. Citigroup upped their target price on shares of Pinnacle Financial Partners from $93.00 to $113.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. lowered their price target on shares of Pinnacle Financial Partners from $108.00 to $105.00 and set an “overweight” rating for the company in a report on Thursday, June 27th. Hovde Group upped their price objective on Pinnacle Financial Partners from $110.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Finally, Truist Financial lifted their target price on Pinnacle Financial Partners from $101.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $102.10.

Read Our Latest Research Report on PNFP

Pinnacle Financial Partners Company Profile

(Get Free Report)

Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.

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