Pinnacle Financial Partners to Post FY2018 Earnings of $4.72 Per Share, FIG Partners Forecasts (PNFP)

Share on StockTwits

Pinnacle Financial Partners (NASDAQ:PNFP) – Stock analysts at FIG Partners upped their FY2018 earnings per share estimates for shares of Pinnacle Financial Partners in a research note issued on Thursday, October 18th, Zacks Investment Research reports. FIG Partners analyst B. Martin now forecasts that the financial services provider will post earnings of $4.72 per share for the year, up from their previous estimate of $4.71. FIG Partners also issued estimates for Pinnacle Financial Partners’ Q2 2019 earnings at $1.23 EPS, Q3 2019 earnings at $1.31 EPS, Q4 2019 earnings at $1.35 EPS, FY2019 earnings at $5.05 EPS and FY2020 earnings at $5.45 EPS.

A number of other equities analysts have also commented on the company. BidaskClub lowered Pinnacle Financial Partners from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 24th. SunTrust Banks dropped their price objective on Pinnacle Financial Partners to $65.00 and set a “buy” rating for the company in a research note on Thursday, October 18th. Raymond James dropped their price objective on Pinnacle Financial Partners from $72.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, October 18th. ValuEngine lowered Pinnacle Financial Partners from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 17th. Finally, Zacks Investment Research lowered Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research note on Saturday, October 6th. Three analysts have rated the stock with a sell rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $70.67.

Shares of Pinnacle Financial Partners stock traded down $0.70 during trading hours on Friday, reaching $53.25. The company had a trading volume of 223,846 shares, compared to its average volume of 761,281. Pinnacle Financial Partners has a one year low of $49.92 and a one year high of $69.95. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $4.17 billion, a P/E ratio of 14.92, a PEG ratio of 0.71 and a beta of 1.12.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings results on Tuesday, October 16th. The financial services provider reported $1.21 EPS for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.02. Pinnacle Financial Partners had a return on equity of 9.09% and a net margin of 26.97%. The firm had revenue of $240.90 million during the quarter, compared to analyst estimates of $236.67 million. During the same period last year, the company earned $0.90 earnings per share.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in Pinnacle Financial Partners by 0.4% during the third quarter. BlackRock Inc. now owns 6,512,145 shares of the financial services provider’s stock valued at $391,704,000 after purchasing an additional 26,237 shares in the last quarter. Jennison Associates LLC raised its position in Pinnacle Financial Partners by 7.1% during the second quarter. Jennison Associates LLC now owns 3,501,820 shares of the financial services provider’s stock valued at $214,837,000 after purchasing an additional 233,210 shares in the last quarter. Ceredex Value Advisors LLC raised its position in Pinnacle Financial Partners by 4.4% during the third quarter. Ceredex Value Advisors LLC now owns 1,581,200 shares of the financial services provider’s stock valued at $95,109,000 after purchasing an additional 66,400 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Pinnacle Financial Partners by 13.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,489,261 shares of the financial services provider’s stock valued at $91,369,000 after purchasing an additional 177,866 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Pinnacle Financial Partners by 14.6% during the third quarter. Victory Capital Management Inc. now owns 1,431,397 shares of the financial services provider’s stock valued at $86,099,000 after purchasing an additional 182,506 shares in the last quarter. Institutional investors and hedge funds own 77.84% of the company’s stock.

In related news, Vice Chairman Ronald L. Samuel sold 1,600 shares of Pinnacle Financial Partners stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $63.49, for a total transaction of $101,584.00. Following the completion of the sale, the insider now owns 27,975 shares of the company’s stock, valued at $1,776,132.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.39% of the stock is currently owned by company insiders.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 2nd will be paid a dividend of $0.16 per share. This is a positive change from Pinnacle Financial Partners’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Thursday, November 1st. This represents a $0.64 annualized dividend and a yield of 1.20%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 17.93%.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc operates as a bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The company accepts various deposits, including savings, checking, interest-bearing checking, money market, and certificate of deposit accounts.

Recommended Story: Bond

Get a free copy of the Zacks research report on Pinnacle Financial Partners (PNFP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Pinnacle Financial Partners (NASDAQ:PNFP)

Receive News & Ratings for Pinnacle Financial Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle Financial Partners and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


Leave a Reply

 
© 2006-2018 BBNS.