Pinnacle Financial Partners (NASDAQ:PNFP) – Equities research analysts at SunTrust Banks increased their Q2 2019 earnings per share estimates for shares of Pinnacle Financial Partners in a note issued to investors on Thursday, June 27th, Zacks Investment Research reports. SunTrust Banks analyst J. Demba now expects that the financial services provider will earn $1.27 per share for the quarter, up from their prior estimate of $1.25. SunTrust Banks also issued estimates for Pinnacle Financial Partners’ Q1 2020 earnings at $1.27 EPS, Q2 2020 earnings at $1.29 EPS, Q3 2020 earnings at $1.33 EPS and FY2020 earnings at $5.33 EPS.
Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. Pinnacle Financial Partners had a return on equity of 9.82% and a net margin of 30.46%. The business had revenue of $259.60 million for the quarter, compared to the consensus estimate of $252.44 million. During the same quarter in the prior year, the business posted $1.15 EPS. The business’s revenue for the quarter was up 12.8% on a year-over-year basis.
Other research analysts also recently issued research reports about the company. BidaskClub downgraded Zions Bancorporation NA from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 15th. Stephens reissued a “hold” rating and issued a $63.00 target price on shares of Pinnacle Financial Partners in a research report on Thursday. Raymond James set a $8.00 target price on Superior Energy Services and gave the company a “buy” rating in a research report on Wednesday, April 17th. Finally, Zacks Investment Research reissued a “hold” rating on shares of Western New England Bancorp in a research report on Saturday, June 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $61.33.
Shares of PNFP traded down $0.57 during mid-day trading on Friday, reaching $58.82. The company’s stock had a trading volume of 729,874 shares, compared to its average volume of 458,353. Pinnacle Financial Partners has a 12-month low of $43.23 and a 12-month high of $66.54. The firm has a market capitalization of $4.53 billion, a PE ratio of 12.41, a PEG ratio of 0.80 and a beta of 1.36. The company has a current ratio of 0.99, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58. The firm’s 50 day moving average price is $56.26.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 2nd will be given a $0.16 dividend. The ex-dividend date is Thursday, August 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.09%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 13.50%.
In other Pinnacle Financial Partners news, Chairman Richard D. Callicutt II sold 4,035 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $59.01, for a total transaction of $238,105.35. Following the completion of the sale, the chairman now directly owns 129,269 shares of the company’s stock, valued at approximately $7,628,163.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Ronald L. Samuel sold 1,600 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $56.74, for a total value of $90,784.00. Following the sale, the insider now directly owns 24,253 shares of the company’s stock, valued at $1,376,115.22. The disclosure for this sale can be found here. Insiders have sold a total of 8,135 shares of company stock valued at $469,294 over the last ninety days. 2.97% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of PNFP. Davy Asset Management Ltd purchased a new position in Pinnacle Financial Partners in the 2nd quarter valued at approximately $1,057,000. Bessemer Group Inc. increased its position in Pinnacle Financial Partners by 9,140.0% during the second quarter. Bessemer Group Inc. now owns 4,158 shares of the financial services provider’s stock worth $239,000 after buying an additional 4,113 shares in the last quarter. Capital Impact Advisors LLC increased its position in Pinnacle Financial Partners by 4.3% during the second quarter. Capital Impact Advisors LLC now owns 30,717 shares of the financial services provider’s stock worth $1,741,000 after buying an additional 1,269 shares in the last quarter. Lbmc Investment Advisors LLC increased its position in Pinnacle Financial Partners by 9.6% during the second quarter. Lbmc Investment Advisors LLC now owns 22,826 shares of the financial services provider’s stock worth $1,312,000 after buying an additional 2,006 shares in the last quarter. Finally, Fenimore Asset Management Inc. increased its position in Pinnacle Financial Partners by 3.0% during the second quarter. Fenimore Asset Management Inc. now owns 551,833 shares of the financial services provider’s stock worth $31,719,000 after buying an additional 16,146 shares in the last quarter. 80.53% of the stock is owned by institutional investors.
Pinnacle Financial Partners Company Profile
Pinnacle Financial Partners, Inc operates as a 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, interest-bearing checking, money market, and certificate of deposit accounts.