Pinnacle Financial Partners (NASDAQ:PNFP) Posts Earnings Results, Beats Expectations By $0.10 EPS

Pinnacle Financial Partners (NASDAQ:PNFP) released its quarterly earnings results on Tuesday. The financial services provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.10, Briefing.com reports. Pinnacle Financial Partners had a net margin of 30.46% and a return on equity of 9.82%. The business had revenue of $278.43 million during the quarter, compared to the consensus estimate of $267.58 million. During the same quarter last year, the company earned $1.21 earnings per share. The business’s quarterly revenue was up 15.6% compared to the same quarter last year.

Pinnacle Financial Partners stock opened at $56.56 on Wednesday. The company has a market cap of $4.33 billion, a PE ratio of 11.93, a P/E/G ratio of 0.67 and a beta of 1.44. The company has a fifty day moving average price of $55.00 and a two-hundred day moving average price of $56.06. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.99 and a quick ratio of 0.99. Pinnacle Financial Partners has a 12 month low of $43.23 and a 12 month high of $61.60.

In other Pinnacle Financial Partners news, Vice Chairman Ronald L. Samuel sold 500 shares of Pinnacle Financial Partners stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $60.48, for a total value of $30,240.00. Following the completion of the transaction, the insider now owns 22,175 shares of the company’s stock, valued at $1,341,144. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Harold R. Carpenter sold 3,006 shares of Pinnacle Financial Partners stock in a transaction on Friday, September 13th. The stock was sold at an average price of $57.90, for a total transaction of $174,047.40. Following the completion of the transaction, the chief financial officer now directly owns 83,112 shares of the company’s stock, valued at approximately $4,812,184.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,475 shares of company stock valued at $3,674,281. 2.97% of the stock is currently owned by corporate insiders.

A number of analysts have recently weighed in on the stock. Stephens reissued a “hold” rating and set a $63.00 price target on shares of Pinnacle Financial Partners in a research report on Monday, September 16th. BidaskClub raised shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, September 10th. Zacks Investment Research downgraded shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Pinnacle Financial Partners in a research report on Wednesday, September 18th. They set a “neutral” rating and a $62.00 price target for the company. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $61.43.

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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Earnings History for Pinnacle Financial Partners (NASDAQ:PNFP)

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