Equities research analysts expect Pinnacle Financial Partners (NASDAQ:PNFP) to report $219.83 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Pinnacle Financial Partners’ earnings. The highest sales estimate is $220.40 million and the lowest is $218.40 million. Pinnacle Financial Partners posted sales of $119.15 million in the same quarter last year, which suggests a positive year-over-year growth rate of 84.5%. The company is expected to report its next quarterly earnings results on Monday, April 16th.
On average, analysts expect that Pinnacle Financial Partners will report full-year sales of $219.83 million for the current year, with estimates ranging from $927.10 million to $932.68 million. For the next financial year, analysts anticipate that the company will post sales of $1.02 billion per share, with estimates ranging from $1.01 billion to $1.04 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Pinnacle Financial Partners.
Pinnacle Financial Partners (NASDAQ:PNFP) last released its earnings results on Tuesday, January 16th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.03. Pinnacle Financial Partners had a return on equity of 7.24% and a net margin of 22.27%. The firm had revenue of $211.20 million for the quarter, compared to the consensus estimate of $224.62 million. During the same period in the prior year, the firm earned $0.83 EPS. The firm’s revenue was down 2.3% on a year-over-year basis.
Pinnacle Financial Partners (NASDAQ PNFP) traded up $0.40 during midday trading on Thursday, hitting $67.35. The company had a trading volume of 1,164,355 shares, compared to its average volume of 452,260. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.99 and a current ratio of 1.00. Pinnacle Financial Partners has a 52-week low of $58.40 and a 52-week high of $70.30. The firm has a market cap of $5,245.69, a P/E ratio of 19.03, a price-to-earnings-growth ratio of 1.02 and a beta of 1.07.
The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 2nd were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Thursday, February 1st. Pinnacle Financial Partners’s dividend payout ratio is currently 20.00%.
In other Pinnacle Financial Partners news, CAO Hugh M. Queener sold 21,253 shares of the stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $67.51, for a total transaction of $1,434,790.03. Following the sale, the chief accounting officer now directly owns 235,471 shares of the company’s stock, valued at approximately $15,896,647.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles E. Brock sold 2,162 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $64.71, for a total value of $139,903.02. Following the sale, the director now directly owns 36,136 shares in the company, valued at $2,338,360.56. The disclosure for this sale can be found here. Insiders have sold a total of 133,882 shares of company stock worth $9,012,711 over the last ninety days. 3.39% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Whittier Trust Co. purchased a new stake in shares of Pinnacle Financial Partners during the 4th quarter worth about $119,000. Tower Research Capital LLC TRC boosted its stake in shares of Pinnacle Financial Partners by 252.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,929 shares of the financial services provider’s stock worth $128,000 after acquiring an additional 1,381 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Pinnacle Financial Partners by 130.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,300 shares of the financial services provider’s stock valued at $152,000 after buying an additional 1,300 shares in the last quarter. Advisor Group Inc. lifted its stake in Pinnacle Financial Partners by 33.8% in the 3rd quarter. Advisor Group Inc. now owns 3,069 shares of the financial services provider’s stock valued at $206,000 after buying an additional 775 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Pinnacle Financial Partners by 49.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,681 shares of the financial services provider’s stock valued at $244,000 after buying an additional 1,217 shares in the last quarter. 72.13% of the stock is currently owned by institutional investors.
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About Pinnacle Financial Partners
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.
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