Pinnacle Financial Partners (PNFP) to Release Quarterly Earnings on Monday

Pinnacle Financial Partners (NASDAQ:PNFP) is scheduled to issue its quarterly earnings data after the market closes on Monday, April 15th. Analysts expect the company to announce earnings of $1.53 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.01. Pinnacle Financial Partners had a return on equity of 9.78% and a net margin of 20.17%. The firm had revenue of $396.34 million during the quarter, compared to analyst estimates of $416.97 million. During the same period last year, the company earned $1.76 earnings per share. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, analysts expect Pinnacle Financial Partners to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Pinnacle Financial Partners Price Performance

Pinnacle Financial Partners stock opened at $79.95 on Friday. Pinnacle Financial Partners has a one year low of $43.31 and a one year high of $92.33. The business has a fifty day moving average price of $82.56 and a 200-day moving average price of $78.28. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $6.16 billion, a P/E ratio of 11.14 and a beta of 1.08.

Pinnacle Financial Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 2nd were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Thursday, February 1st. Pinnacle Financial Partners’s payout ratio is currently 12.26%.

Insider Buying and Selling at Pinnacle Financial Partners

In other news, Chairman Robert A. Mccabe, Jr. sold 6,331 shares of Pinnacle Financial Partners stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $87.43, for a total value of $553,519.33. Following the transaction, the chairman now owns 202,699 shares in the company, valued at $17,721,973.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Chairman Robert A. Mccabe, Jr. sold 6,331 shares of Pinnacle Financial Partners stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $87.43, for a total value of $553,519.33. Following the transaction, the chairman now owns 202,699 shares in the company, valued at $17,721,973.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Richard D. Callicutt II sold 11,030 shares of Pinnacle Financial Partners stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $82.22, for a total value of $906,886.60. Following the completion of the transaction, the chairman now owns 97,226 shares in the company, valued at approximately $7,993,921.72. The disclosure for this sale can be found here. Insiders have sold 54,175 shares of company stock worth $4,487,253 over the last 90 days. Corporate insiders own 1.87% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. American Century Companies Inc. increased its holdings in Pinnacle Financial Partners by 12.1% during the 1st quarter. American Century Companies Inc. now owns 6,848 shares of the financial services provider’s stock valued at $631,000 after purchasing an additional 738 shares during the period. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Pinnacle Financial Partners during the 1st quarter valued at about $101,000. PNC Financial Services Group Inc. increased its holdings in Pinnacle Financial Partners by 76.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,527 shares of the financial services provider’s stock valued at $600,000 after purchasing an additional 2,838 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Pinnacle Financial Partners by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,903 shares of the financial services provider’s stock valued at $2,569,000 after purchasing an additional 2,660 shares during the period. Finally, BlackRock Inc. increased its holdings in Pinnacle Financial Partners by 1.5% during the 1st quarter. BlackRock Inc. now owns 6,935,015 shares of the financial services provider’s stock valued at $638,577,000 after purchasing an additional 104,706 shares during the period. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Analysts Set New Price Targets

PNFP has been the subject of several research analyst reports. Truist Financial lifted their price objective on Pinnacle Financial Partners from $93.00 to $99.00 and gave the company a “buy” rating in a research note on Monday, April 1st. UBS Group dropped their price objective on Pinnacle Financial Partners from $91.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, January 18th. Stephens reissued an “overweight” rating and set a $108.00 price objective on shares of Pinnacle Financial Partners in a research note on Wednesday, January 17th. Barclays initiated coverage on Pinnacle Financial Partners in a research note on Friday, March 8th. They set an “equal weight” rating and a $93.00 price objective for the company. Finally, Jefferies Financial Group dropped their price objective on Pinnacle Financial Partners from $88.00 to $85.00 and set a “hold” rating for the company in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $92.57.

Pinnacle Financial Partners Company Profile

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.