Pinnacle Financial Partners, Inc. (NYSE:PNFP) Announces Quarterly Dividend of $0.50

Pinnacle Financial Partners, Inc. (NYSE:PNFP – Get Free Report) declared a quarterly dividend on Monday, October 26th. Investors of record on Friday, November 6th will be paid a dividend of $0.50 per share on Friday, November 27th. This represents a $2.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, November 6th.

Pinnacle Financial Partners has increased its dividend by an average of 0.1% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Pinnacle Financial Partners has a dividend payout ratio of 23.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Pinnacle Financial Partners to earn $11.49 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 17.4%.

Pinnacle Financial Partners Stock Up 0.1%

Shares of PNFP stock opened at $100.47 on Tuesday. Pinnacle Financial Partners has a 12-month low of $81.08 and a 12-month high of $110.33. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.73. The firm has a fifty day moving average of $97.95 and a 200-day moving average of $96.67. The company has a market capitalization of $7.79 billion, a price-to-earnings ratio of 13.41, a P/E/G ratio of 0.40 and a beta of 1.03.

Pinnacle Financial Partners (NYSE:PNFP – Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $2.69 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.07. Pinnacle Financial Partners had a return on equity of 11.33% and a net margin of 15.97%. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.28 billion. As a group, equities research analysts predict that Pinnacle Financial Partners will post 10.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PNFP shares. Morgan Stanley increased their price objective on shares of Pinnacle Financial Partners from $139.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday. TD Cowen lifted their target price on shares of Pinnacle Financial Partners from $115.00 to $118.00 and gave the stock a “buy” rating in a report on Friday. Evercore set a $108.00 price target on shares of Pinnacle Financial Partners in a research note on Thursday, October 1st. Robert W. Baird increased their price target on shares of Pinnacle Financial Partners from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Friday. Finally, DA Davidson increased their target price on Pinnacle Financial Partners from $112.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $119.75.

Get Our Latest Report on PNFP

About Pinnacle Financial Partners

(Get Free Report)

Pinnacle Financial Partners, Inc is a bank holding company headquartered in Nashville, Tennessee. Through its primary subsidiary, Pinnacle Bank, the company provides banking and financial services to businesses, professionals, entrepreneurs and individuals.

Its offerings include commercial and consumer loans, deposit accounts, treasury and cash-management services, mortgage lending, investment and wealth-management services, trust services and insurance solutions. Pinnacle emphasizes relationship-based banking and serves clients through offices and financial professionals in Tennessee and selected markets in the Carolinas and Virginia.

Founded in 2000, Pinnacle has expanded from its Nashville base into a broader regional banking franchise through organic growth and acquisitions.

Further Reading

Dividend History for Pinnacle Financial Partners (NYSE:PNFP)

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