Wall Street analysts expect that Pinnacle Financial Partners (NASDAQ:PNFP) will announce sales of $244.56 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Pinnacle Financial Partners’ earnings, with estimates ranging from $240.00 million to $248.00 million. Pinnacle Financial Partners posted sales of $218.65 million in the same quarter last year, which suggests a positive year over year growth rate of 11.8%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Monday, April 15th.
According to Zacks, analysts expect that Pinnacle Financial Partners will report full year sales of $1.03 billion for the current financial year, with estimates ranging from $1.02 billion to $1.04 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.11 billion, with estimates ranging from $1.08 billion to $1.14 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Pinnacle Financial Partners.
Pinnacle Financial Partners (NASDAQ:PNFP) last posted its earnings results on Tuesday, January 15th. The financial services provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. The firm had revenue of $247.50 million for the quarter, compared to analysts’ expectations of $246.73 million. Pinnacle Financial Partners had a net margin of 31.32% and a return on equity of 9.51%. The company’s revenue was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.97 earnings per share.
In other Pinnacle Financial Partners news, Chairman Richard D. Callicutt II sold 15,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $58.56, for a total value of $878,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Ronald L. Samuel sold 1,600 shares of the stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $58.55, for a total transaction of $93,680.00. Following the completion of the sale, the insider now owns 24,775 shares in the company, valued at $1,450,576.25. The disclosure for this sale can be found here. Insiders sold a total of 42,588 shares of company stock worth $2,479,247 over the last quarter. Corporate insiders own 2.97% of the company’s stock.
Several large investors have recently modified their holdings of the company. Enlightenment Research LLC purchased a new position in Pinnacle Financial Partners during the fourth quarter valued at approximately $28,000. Oregon Public Employees Retirement Fund raised its stake in shares of Pinnacle Financial Partners by 4,510.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,351,790 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,322,467 shares during the last quarter. Pearl River Capital LLC purchased a new stake in shares of Pinnacle Financial Partners during the fourth quarter worth approximately $37,000. Toronto Dominion Bank purchased a new stake in shares of Pinnacle Financial Partners during the fourth quarter worth approximately $61,000. Finally, Advisors Asset Management Inc. purchased a new stake in shares of Pinnacle Financial Partners during the fourth quarter worth approximately $126,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ PNFP traded up $0.22 during midday trading on Friday, reaching $56.08. 23,520 shares of the company were exchanged, compared to its average volume of 482,649. The stock has a market cap of $4.30 billion, a PE ratio of 11.82, a PEG ratio of 0.78 and a beta of 1.39. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 0.97. Pinnacle Financial Partners has a one year low of $43.23 and a one year high of $68.70.
About Pinnacle Financial Partners
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.
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