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

Pinnacle Financial Partners (NASDAQ:PNFP) will post its quarterly earnings results after the market closes on Tuesday, October 15th. Analysts expect Pinnacle Financial Partners to post earnings of $1.81 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.03. The firm had revenue of $366.55 million for the quarter, compared to analysts’ expectations of $426.40 million. Pinnacle Financial Partners had a net margin of 13.93% and a return on equity of 8.97%. 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 Price Performance

Shares of NASDAQ PNFP opened at $98.69 on Monday. The stock has a market cap of $7.62 billion, a price-to-earnings ratio of 14.12 and a beta of 1.05. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. The company’s 50-day moving average price is $94.25 and its 200 day moving average price is $86.45. Pinnacle Financial Partners has a 52 week low of $59.66 and a 52 week high of $100.76.

Pinnacle Financial Partners Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Piper Sandler lowered shares of Pinnacle Financial Partners from an “overweight” rating to a “neutral” rating and upped their target price for the company from $95.00 to $98.00 in a report on Thursday, July 18th. Hovde Group increased their target price on shares of Pinnacle Financial Partners from $110.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. Wells Fargo & Company downgraded 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 report on Tuesday, October 1st. Barclays increased their price objective on shares of Pinnacle Financial Partners from $97.00 to $101.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Pinnacle Financial Partners from $108.00 to $105.00 and set an “overweight” rating for the company in a research report on Thursday, June 27th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.