Pinnacle Financial Partners (NYSE:PNFP – Get Free Report) announced its quarterly earnings results on Wednesday. The company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.46 by $0.04, Zacks reports. Pinnacle Financial Partners had a net margin of 15.02% and a return on equity of 10.61%.
Pinnacle Financial Partners Stock Performance
Pinnacle Financial Partners stock traded up $0.68 during mid-day trading on Wednesday, reaching $97.47. 1,304,896 shares of the company were exchanged, compared to its average volume of 1,473,662. The stock has a 50-day moving average price of $97.59. Pinnacle Financial Partners has a twelve month low of $81.08 and a twelve month high of $113.33. The stock has a market capitalization of $7.56 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 0.40 and a beta of 1.04. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.42.
Institutional Investors Weigh In On Pinnacle Financial Partners
Several hedge funds have recently modified their holdings of the stock. Graham Capital Management L.P. lifted its holdings in Pinnacle Financial Partners by 0.7% in the 4th quarter. Graham Capital Management L.P. now owns 22,169 shares of the company’s stock valued at $2,115,000 after purchasing an additional 146 shares in the last quarter. Advisory Services Network LLC raised its position in shares of Pinnacle Financial Partners by 5.5% in the third quarter. Advisory Services Network LLC now owns 3,411 shares of the company’s stock valued at $320,000 after buying an additional 178 shares during the last quarter. Brooks Moore & Associates Inc. lifted its stake in shares of Pinnacle Financial Partners by 0.8% during the second quarter. Brooks Moore & Associates Inc. now owns 24,186 shares of the company’s stock valued at $2,670,000 after buying an additional 200 shares during the period. CIBC Private Wealth Group LLC boosted its position in Pinnacle Financial Partners by 175.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 339 shares of the company’s stock worth $32,000 after acquiring an additional 216 shares during the last quarter. Finally, Quarry LP boosted its position in Pinnacle Financial Partners by 88.3% during the third quarter. Quarry LP now owns 529 shares of the company’s stock worth $50,000 after acquiring an additional 248 shares during the last quarter. 87.40% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Read Our Latest Report on Pinnacle Financial Partners
Pinnacle Financial Partners Company Profile
Pinnacle Financial Partners (NYSE: PNFP) is a bank holding company headquartered in Nashville, Tennessee, that provides a broad range of commercial and consumer banking services. Founded in 2000, the company operates through a network of banking offices and digital channels to serve individuals, small and middle-market businesses, and institutional clients. Pinnacle’s business model emphasizes relationship-based banking and tailored financial solutions for commercial borrowers and deposit customers.
The company’s product and service offerings include commercial and residential lending, treasury and payment solutions, deposit accounts, mortgage services, and cash management.
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