Pinnacle Financial Partners (PNFP) Projected to Post Earnings on Monday

Pinnacle Financial Partners (NASDAQ:PNFP) is expected to be issuing its quarterly earnings data after the market closes on Monday, April 14th. Analysts expect the company to announce earnings of $1.82 per share and revenue of $478.11 million for the quarter.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.10. Pinnacle Financial Partners had a return on equity of 9.04% and a net margin of 15.48%. The company had revenue of $475.34 million for the quarter, compared to analysts’ expectations of $470.33 million. During the same period in the prior year, the firm earned $1.68 earnings per share. The firm’s revenue was up 19.9% compared to the same quarter last year. On average, analysts expect Pinnacle Financial Partners to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Pinnacle Financial Partners Trading Down 5.1 %

Shares of NASDAQ PNFP opened at $87.19 on Monday. The stock has a fifty day simple moving average of $112.41 and a 200-day simple moving average of $112.51. The stock has a market capitalization of $6.75 billion, a PE ratio of 14.58 and a beta of 0.94. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.37. Pinnacle Financial Partners has a twelve month low of $73.62 and a twelve month high of $131.91.

Pinnacle Financial Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 7th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Friday, February 7th. This is a boost from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. Pinnacle Financial Partners’s payout ratio is 16.05%.

Analysts Set New Price Targets

A number of analysts have weighed in on PNFP shares. Wells Fargo & Company boosted their price objective on shares of Pinnacle Financial Partners from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Hovde Group cut their target price on Pinnacle Financial Partners from $135.00 to $120.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 2nd. Stephens reissued an “overweight” rating and issued a $142.00 target price on shares of Pinnacle Financial Partners in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. dropped their price target on Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Finally, Barclays upgraded Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $120.00 to $135.00 in a research note on Thursday, December 19th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Pinnacle Financial Partners presently has a consensus rating of “Hold” and an average price target of $123.82.

Insider Buying and Selling at Pinnacle Financial Partners

In related news, CEO M Terry Turner sold 2,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $100.63, for a total transaction of $201,260.00. Following the completion of the sale, the chief executive officer now directly owns 254,552 shares of the company’s stock, valued at $25,615,567.76. This trade represents a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Glenda Baskin Glover sold 3,000 shares of Pinnacle Financial Partners stock in a transaction on Friday, March 14th. The shares were sold at an average price of $101.55, for a total transaction of $304,650.00. Following the completion of the transaction, the director now owns 9,943 shares in the company, valued at approximately $1,009,711.65. This trade represents a 23.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,350 shares of company stock worth $11,421,320. 1.46% of the stock is currently owned by insiders.

About Pinnacle Financial Partners

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.