Brokerages expect Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) to post sales of $318.12 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Pinnacle Financial Partners’ earnings, with the lowest sales estimate coming in at $310.90 million and the highest estimate coming in at $332.40 million. Pinnacle Financial Partners posted sales of $297.66 million in the same quarter last year, which suggests a positive year over year growth rate of 6.9%. The firm is scheduled to announce its next earnings results on Tuesday, October 19th.
On average, analysts expect that Pinnacle Financial Partners will report full year sales of $1.26 billion for the current financial year, with estimates ranging from $1.24 billion to $1.31 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.29 billion, with estimates ranging from $1.26 billion to $1.32 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Pinnacle Financial Partners.
Pinnacle Financial Partners (NASDAQ:PNFP) last issued its earnings results on Monday, July 19th. The financial services provider reported $1.68 EPS for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.24. The firm had revenue of $331.43 million for the quarter, compared to analyst estimates of $315.54 million. Pinnacle Financial Partners had a return on equity of 10.47% and a net margin of 34.35%. Pinnacle Financial Partners’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.28 earnings per share.
Pinnacle Financial Partners stock traded down $2.47 during mid-day trading on Friday, hitting $87.18. The company had a trading volume of 4,723 shares, compared to its average volume of 300,966. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.92. Pinnacle Financial Partners has a 12-month low of $32.80 and a 12-month high of $96.52. The firm’s fifty day moving average is $89.14. The stock has a market cap of $6.63 billion, a P/E ratio of 14.21 and a beta of 1.38.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 27th. Investors of record on Friday, August 6th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Thursday, August 5th. Pinnacle Financial Partners’s dividend payout ratio is currently 16.74%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Pinnacle Financial Partners by 0.8% in the 1st quarter. BlackRock Inc. now owns 6,916,614 shares of the financial services provider’s stock valued at $613,228,000 after purchasing an additional 54,332 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Pinnacle Financial Partners by 1.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,645,127 shares of the financial services provider’s stock worth $500,497,000 after acquiring an additional 107,698 shares during the last quarter. Wasatch Advisors Inc. increased its stake in shares of Pinnacle Financial Partners by 26.3% in the 1st quarter. Wasatch Advisors Inc. now owns 1,911,917 shares of the financial services provider’s stock worth $169,511,000 after acquiring an additional 398,118 shares during the last quarter. Waddell & Reed Financial Inc. increased its stake in shares of Pinnacle Financial Partners by 259.7% in the 1st quarter. Waddell & Reed Financial Inc. now owns 1,083,725 shares of the financial services provider’s stock worth $96,083,000 after acquiring an additional 782,474 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Pinnacle Financial Partners by 1.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,080,209 shares of the financial services provider’s stock worth $95,771,000 after acquiring an additional 10,759 shares during the last quarter. 80.30% of the stock is owned by hedge funds and other institutional investors.
About Pinnacle Financial Partners
Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the 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, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts.
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