Pinnacle Financial Partners, Inc. (PNFP) to Distribute Quarterly Dividend of $0.50 on August 28th

Pinnacle Financial Partners, Inc. (NYSE:PNFP – Get Free Report) declared a quarterly dividend on Monday, July 27th. Stockholders of record on Friday, August 7th will be paid a dividend of 0.50 per share on Friday, August 28th. This represents a c) dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, August 7th.

Pinnacle Financial Partners has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Pinnacle Financial Partners has a payout ratio of 23.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Pinnacle Financial Partners to earn $11.43 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 17.5%.

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Pinnacle Financial Partners Price Performance

Shares of Pinnacle Financial Partners stock opened at $108.78 on Wednesday. Pinnacle Financial Partners has a 1 year low of $81.08 and a 1 year high of $110.33. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.93. The stock’s 50 day moving average is $99.18. The firm has a market cap of $8.44 billion, a P/E ratio of 14.94, a P/E/G ratio of 0.43 and a beta of 1.03.

Pinnacle Financial Partners (NYSE:PNFP – Get Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.46 by $0.04. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Pinnacle Financial Partners had a return on equity of 10.93% and a net margin of 15.40%. As a group, research analysts expect that Pinnacle Financial Partners will post 10.2 EPS for the current fiscal year.

Pinnacle Financial Partners Company Profile

(Get Free Report)

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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