Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) declared a quarterly dividend on Wednesday, July 19th, NASDAQ reports. Stockholders of record on Friday, August 4th will be paid a dividend of 0.14 per share by the financial services provider on Friday, August 25th. This represents a $0.56 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Wednesday, August 2nd.
Pinnacle Financial Partners (NASDAQ:PNFP) last issued its earnings results on Tuesday, July 18th. The financial services provider reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.04. Pinnacle Financial Partners had a return on equity of 7.67% and a net margin of 27.36%. The firm had revenue of $141.70 million for the quarter, compared to analysts’ expectations of $130.23 million. During the same quarter last year, the firm earned $0.75 earnings per share. The firm’s revenue for the quarter was up 31.4% compared to the same quarter last year.
A number of brokerages recently weighed in on PNFP. Stephens reiterated a “hold” rating and issued a $71.00 target price on shares of Pinnacle Financial Partners in a report on Thursday, July 20th. BidaskClub cut Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Hilliard Lyons restated a “neutral” rating and set a $69.00 price objective (down previously from $71.00) on shares of Pinnacle Financial Partners in a research note on Saturday, April 22nd. Finally, Zacks Investment Research cut Pinnacle Financial Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, April 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Pinnacle Financial Partners currently has an average rating of “Hold” and a consensus price target of $65.20.
In other Pinnacle Financial Partners news, CEO M Terry Turner sold 101,480 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $64.82, for a total transaction of $6,577,933.60. Following the transaction, the chief executive officer now owns 538,441 shares in the company, valued at $34,901,745.62. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of Pinnacle Financial Partners stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $66.02, for a total value of $198,060.00. Following the sale, the insider now directly owns 64,794 shares in the company, valued at $4,277,699.88. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 1,425 shares of company stock worth $86,180 and have sold 107,480 shares worth $6,962,234. Insiders own 5.41% of the company’s stock.
About Pinnacle Financial Partners
Pinnacle Financial Partners, Inc is a bank holding company. The Company operates through its subsidiary, Pinnacle Bank. The Company operates as a community bank primarily in the urban markets of Nashville, Knoxville, Memphis and Chattanooga, Tennessee and other counties. It provides the personalized service associated with small community banks, while seeking to offer the products and services, such as investments and treasury management.
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