Pinnacle Financial Partners, Inc. (NYSE:PNFP) Plans Quarterly Dividend of $0.50

by · The Markets Daily

Pinnacle Financial Partners, Inc. (NYSE:PNFP – Get Free Report) announced a quarterly dividend on Monday, July 27th. Stockholders of record on Friday, August 7th will be paid a dividend of 0.50 per share on Friday, August 28th. This represents a c) dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, August 7th.

Pinnacle Financial Partners has increased its dividend 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. Research analysts expect Pinnacle Financial Partners to earn $11.53 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 17.3%.

Pinnacle Financial Partners Stock Performance

Pinnacle Financial Partners stock opened at $103.22 on Tuesday. The company’s 50-day moving average price is $98.07. The stock has a market cap of $8.01 billion, a P/E ratio of 14.18, a PEG ratio of 0.41 and a beta of 1.04. Pinnacle Financial Partners has a fifty-two week low of $81.08 and a fifty-two week high of $107.00. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.73.

Pinnacle Financial Partners (NYSE:PNFP – Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.04. Pinnacle Financial Partners had a net margin of 15.40% and a return on equity of 10.93%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.24 billion. As a group, analysts predict that Pinnacle Financial Partners will post 10.18 EPS for the current fiscal year.

Institutional Trading of Pinnacle Financial Partners

Institutional investors have recently made changes to their positions in the company. Yousif Capital Management LLC raised its position in shares of Pinnacle Financial Partners by 92.4% in the fourth quarter. Yousif Capital Management LLC now owns 46,456 shares of the company’s stock valued at $4,519,000 after buying an additional 22,306 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Pinnacle Financial Partners by 122.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 16,188 shares of the company’s stock worth $1,544,000 after buying an additional 8,927 shares in the last quarter. M&T Bank Corp boosted its position in Pinnacle Financial Partners by 283.3% during the fourth quarter. M&T Bank Corp now owns 27,583 shares of the company’s stock worth $2,632,000 after acquiring an additional 20,386 shares during the last quarter. Impax Asset Management Group plc boosted its position in Pinnacle Financial Partners by 21.0% during the fourth quarter. Impax Asset Management Group plc now owns 421,413 shares of the company’s stock worth $41,298,000 after acquiring an additional 73,176 shares during the last quarter. Finally, Anchor Investment Management LLC purchased a new stake in Pinnacle Financial Partners during the 1st quarter valued at about $1,156,000. 87.40% of the stock is owned by institutional investors and hedge funds.

About Pinnacle Financial Partners

(Get Free Report)

Pinnacle Financial Partners (NYSE: PNFP) is a bank holding company headquartered in Nashville, Tennessee, that provides a broad range of commercial and consumer banking services. Founded in 2000, the company operates through a network of banking offices and digital channels to serve individuals, small and middle-market businesses, and institutional clients. Pinnacle’s business model emphasizes relationship-based banking and tailored financial solutions for commercial borrowers and deposit customers.

The company’s product and service offerings include commercial and residential lending, treasury and payment solutions, deposit accounts, mortgage services, and cash management.

See Also