Pinnacle Financial Partners Forecasted to Earn Q2 2018 Earnings of $1.16 Per Share (PNFP)

Pinnacle Financial Partners (NASDAQ:PNFP) – Analysts at Piper Jaffray Companies dropped their Q2 2018 EPS estimates for shares of Pinnacle Financial Partners in a report released on Friday, June 8th. Piper Jaffray Companies analyst W. Curtiss now expects that the financial services provider will post earnings per share of $1.16 for the quarter, down from their prior estimate of $1.17. Piper Jaffray Companies also issued estimates for Pinnacle Financial Partners’ Q3 2018 earnings at $1.21 EPS and Q1 2019 earnings at $1.23 EPS.

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PNFP has been the topic of several other reports. UBS Group initiated coverage on shares of Pinnacle Financial Partners in a report on Wednesday, March 21st. They issued a “sell” rating and a $56.00 price target on the stock. BidaskClub raised shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating in a report on Wednesday, April 4th. Hovde Group raised shares of Pinnacle Financial Partners from a “market perform” rating to an “outperform” rating and set a $72.00 price target on the stock in a report on Wednesday, April 18th. Zacks Investment Research raised shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Wednesday, March 28th. Finally, Keefe, Bruyette & Woods raised shares of Pinnacle Financial Partners from a “market perform” rating to an “outperform” rating in a report on Friday, February 16th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $72.56.

PNFP opened at $66.25 on Monday. The firm has a market capitalization of $5.23 billion, a P/E ratio of 18.56, a P/E/G ratio of 0.88 and a beta of 1.05. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.00 and a current ratio of 1.01. Pinnacle Financial Partners has a 12-month low of $58.40 and a 12-month high of $70.30.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its earnings results on Monday, April 16th. The financial services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.03. The business had revenue of $218.60 million during the quarter, compared to the consensus estimate of $220.48 million. Pinnacle Financial Partners had a net margin of 24.09% and a return on equity of 7.52%. The business’s quarterly revenue was up 83.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.83 earnings per share.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 25th. Shareholders of record on Friday, May 4th were issued a dividend of $0.14 per share. The ex-dividend date was Thursday, May 3rd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.85%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is 15.69%.

In other Pinnacle Financial Partners news, Vice Chairman Ronald L. Samuel sold 3,000 shares of the stock in a transaction on Tuesday, March 27th. The shares were sold at an average price of $63.03, for a total transaction of $189,090.00. Following the sale, the insider now directly owns 40,375 shares of the company’s stock, valued at $2,544,836.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Richard D. Callicutt II sold 20,000 shares of the stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $65.56, for a total transaction of $1,311,200.00. Following the sale, the chairman now directly owns 168,741 shares in the company, valued at $11,062,659.96. The disclosure for this sale can be found here. Insiders have sold 29,900 shares of company stock worth $1,956,311 over the last three months. 3.39% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of the business. BlackRock Inc. raised its holdings in shares of Pinnacle Financial Partners by 2.7% during the first quarter. BlackRock Inc. now owns 6,212,522 shares of the financial services provider’s stock worth $398,843,000 after purchasing an additional 162,512 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Pinnacle Financial Partners by 0.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,725,348 shares of the financial services provider’s stock worth $114,390,000 after purchasing an additional 7,720 shares during the period. Ceredex Value Advisors LLC acquired a new stake in shares of Pinnacle Financial Partners during the first quarter worth $90,692,000. Dimensional Fund Advisors LP raised its holdings in shares of Pinnacle Financial Partners by 19.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,311,395 shares of the financial services provider’s stock worth $84,192,000 after purchasing an additional 211,476 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of Pinnacle Financial Partners by 3.3% during the first quarter. Victory Capital Management Inc. now owns 1,242,218 shares of the financial services provider’s stock worth $79,750,000 after purchasing an additional 39,768 shares during the period. 76.38% of the stock is currently owned by institutional investors.

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.

Earnings History and Estimates for Pinnacle Financial Partners (NASDAQ:PNFP)

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