Pinnacle Financial Partners (NASDAQ:PNFP) Releases Quarterly Earnings Results, Beats Estimates By $0.23 EPS

Pinnacle Financial Partners (NASDAQ:PNFP) issued its earnings results on Monday. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.23, MarketWatch Earnings reports. Pinnacle Financial Partners had a net margin of 22.43% and a return on equity of 6.88%. During the same period last year, the firm posted $1.27 EPS.

PNFP traded up $2.22 during trading on Wednesday, reaching $72.54. The company had a trading volume of 29,763 shares, compared to its average volume of 507,717. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.95 and a quick ratio of 0.95. Pinnacle Financial Partners has a 12 month low of $27.80 and a 12 month high of $71.96. The business’s fifty day moving average price is $64.08 and its 200 day moving average price is $47.84. The company has a market cap of $5.50 billion, a P/E ratio of 18.12 and a beta of 1.37.

In other news, CAO Hugh M. Queener sold 4,414 shares of Pinnacle Financial Partners stock in a transaction that occurred on Tuesday, November 17th. The shares were sold at an average price of $54.51, for a total value of $240,607.14. Following the sale, the chief accounting officer now directly owns 207,100 shares in the company, valued at $11,289,021. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary L. Scott sold 9,029 shares of Pinnacle Financial Partners stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $53.50, for a total transaction of $483,051.50. Insiders own 2.98% of the company’s stock.

Several research analysts have recently issued reports on PNFP shares. Stephens initiated coverage on shares of Pinnacle Financial Partners in a research note on Monday, November 16th. They issued an “overweight” rating on the stock. TheStreet raised shares of Pinnacle Financial Partners from a “c+” rating to a “b” rating in a research note on Tuesday, November 10th. Zacks Investment Research raised shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Thursday, October 1st. Wells Fargo & Company lowered shares of Pinnacle Financial Partners from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $48.00 to $65.00 in a research note on Monday, January 4th. Finally, JPMorgan Chase & Co. raised shares of Pinnacle Financial Partners from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $47.00 to $74.00 in a research note on Tuesday, December 15th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $51.83.

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 in the United States. The company accepts various deposits, including savings, checking, noninterest-bearing 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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