Pinnacle Financial Partners (PNFP) Set to Announce Earnings on Tuesday

Pinnacle Financial Partners (NASDAQ:PNFP) is scheduled to release its earnings data after the market closes on Tuesday, October 15th. Analysts expect Pinnacle Financial Partners to post earnings of $1.81 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.03. Pinnacle Financial Partners had a net margin of 13.93% and a return on equity of 8.97%. The firm had revenue of $366.55 million during the quarter, compared to analyst estimates of $426.40 million. On average, analysts expect Pinnacle Financial Partners to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Pinnacle Financial Partners Trading Up 3.0 %

Shares of PNFP opened at $98.69 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. Pinnacle Financial Partners has a 12-month low of $59.66 and a 12-month high of $100.76. The firm has a 50-day moving average price of $94.25 and a 200 day moving average price of $86.45. The firm has a market capitalization of $7.62 billion, a P/E ratio of 14.12 and a beta of 1.05.

Pinnacle Financial Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 2nd were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Friday, August 2nd. Pinnacle Financial Partners’s dividend payout ratio is currently 12.59%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PNFP. Citigroup increased their target price on shares of Pinnacle Financial Partners from $93.00 to $113.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. lowered their target price on shares of Pinnacle Financial Partners from $108.00 to $105.00 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Barclays increased their target price on shares of Pinnacle Financial Partners from $97.00 to $101.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. Wells Fargo & Company lowered shares of Pinnacle Financial Partners from an “overweight” rating to an “equal weight” rating and set a $100.00 price objective for the company. in a research note on Tuesday, October 1st. Finally, Truist Financial raised their price objective on shares of Pinnacle Financial Partners from $101.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $102.10.

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 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.