Pinnacle Financial Partners (PNFP) to Release Earnings on Tuesday

Pinnacle Financial Partners (NASDAQ:PNFP) is expected to release its earnings data after the market closes on Tuesday, January 21st. Analysts expect Pinnacle Financial Partners to post earnings of $1.80 per share and revenue of $470,334.57 billion for the quarter.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.07. The company had revenue of $810.11 million during the quarter, compared to analyst estimates of $454.18 million. Pinnacle Financial Partners had a net margin of 13.97% and a return on equity of 8.89%. During the same period last year, the business earned $1.79 EPS. 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 PNFP traded up $1.99 during mid-day trading on Wednesday, hitting $119.96. The stock had a trading volume of 536,230 shares, compared to its average volume of 418,134. Pinnacle Financial Partners has a fifty-two week low of $73.62 and a fifty-two week high of $131.91. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.42. The company has a market cap of $9.27 billion, a PE ratio of 22.81 and a beta of 1.09. The company’s fifty day simple moving average is $119.70 and its two-hundred day simple moving average is $103.45.

Insiders Place Their Bets

In other news, CFO Harold R. Carpenter sold 3,051 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $125.57, for a total transaction of $383,114.07. Following the transaction, the chief financial officer now directly owns 60,805 shares in the company, valued at $7,635,283.85. The trade was a 4.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David B. Ingram sold 3,610 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $126.07, for a total value of $455,112.70. Following the sale, the director now owns 139,489 shares of the company’s stock, valued at approximately $17,585,378.23. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,661 shares of company stock worth $9,563,127. 1.87% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PNFP has been the topic of several analyst reports. UBS Group began coverage on Pinnacle Financial Partners in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $133.00 target price on the stock. Hovde Group cut Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $135.00 price target on the stock. in a research report on Monday, November 18th. Wells Fargo & Company raised their price objective on shares of Pinnacle Financial Partners from $104.00 to $120.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Barclays raised shares of Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $120.00 to $135.00 in a research note on Thursday, December 19th. Finally, Stephens lifted their target price on Pinnacle Financial Partners from $108.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $122.73.

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.