Pinnacle Financial Partners (PNFP) to Release Earnings on Tuesday

Pinnacle Financial Partners (NASDAQ:PNFPGet Free Report) is anticipated to announce its earnings results after the market closes on Tuesday, January 21st. Analysts expect the company to announce earnings of $1.80 per share and revenue of $470,334.57 billion for the quarter.

Pinnacle Financial Partners (NASDAQ:PNFPGet Free Report) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.07. Pinnacle Financial Partners had a return on equity of 8.89% and a net margin of 13.97%. The company had revenue of $810.11 million for the quarter, compared to the consensus estimate of $454.18 million. During the same period last year, the business posted $1.79 earnings per share. On average, analysts expect Pinnacle Financial Partners to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Pinnacle Financial Partners Stock Performance

Shares of NASDAQ PNFP traded up $1.99 during trading hours on Wednesday, hitting $119.96. 536,230 shares of the company’s stock were exchanged, compared to its average volume of 418,134. The company’s 50-day moving average price is $119.70 and its 200-day moving average price is $103.45. Pinnacle Financial Partners has a 1-year low of $73.62 and a 1-year high of $131.91. The stock has a market capitalization of $9.27 billion, a price-to-earnings ratio of 22.81 and a beta of 1.09. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.90 and a quick ratio of 0.90.

Insiders Place Their Bets

In other Pinnacle Financial Partners news, Chairman Robert A. Mccabe, Jr. sold 50,000 shares of Pinnacle Financial Partners stock in a transaction on Friday, December 6th. The stock was sold at an average price of $124.09, for a total value of $6,204,500.00. Following the completion of the transaction, the chairman now owns 123,000 shares in the company, valued at approximately $15,263,070. The trade was a 28.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David B. Ingram sold 20,000 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $126.02, for a total value of $2,520,400.00. Following the sale, the director now owns 92,565 shares in the company, valued at $11,665,041.30. The trade was a 17.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,661 shares of company stock worth $9,563,127 over the last three months. 1.87% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wells Fargo & Company upped their target price on shares of Pinnacle Financial Partners from $104.00 to $120.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. UBS Group assumed coverage on Pinnacle Financial Partners in a research note on Tuesday, December 17th. They set a “neutral” rating and a $133.00 price target on the stock. Hovde Group downgraded Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $135.00 price objective for the company. in a research report on Monday, November 18th. Barclays upgraded Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $120.00 to $135.00 in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $122.73.

Get Our Latest Stock Analysis on Pinnacle Financial Partners

Pinnacle Financial Partners Company Profile

(Get Free Report)

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.

Further Reading

Earnings History for Pinnacle Financial Partners (NASDAQ:PNFP)

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