Analysts expect that Pinnacle Financial Partners (NASDAQ:PNFP) will post $250.81 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Pinnacle Financial Partners’ earnings, with the lowest sales estimate coming in at $248.90 million and the highest estimate coming in at $252.80 million. Pinnacle Financial Partners reported sales of $230.18 million in the same quarter last year, which would suggest a positive year over year growth rate of 9%. The company is scheduled to issue its next quarterly earnings results on Tuesday, July 16th.
According to Zacks, analysts expect that Pinnacle Financial Partners will report full-year sales of $1.01 billion for the current year, with estimates ranging from $1.00 billion to $1.02 billion. For the next year, analysts anticipate that the firm will report sales of $1.09 billion, with estimates ranging from $1.06 billion to $1.11 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Pinnacle Financial Partners.
Pinnacle Financial Partners (NASDAQ:PNFP) last released its earnings results on Monday, April 15th. The financial services provider reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.03. Pinnacle Financial Partners had a return on equity of 9.53% and a net margin of 30.80%. The company had revenue of $238.30 million during the quarter, compared to the consensus estimate of $246.03 million. During the same period in the previous year, the company posted $1.13 EPS. Pinnacle Financial Partners’s revenue was up 9.0% compared to the same quarter last year.
Several equities research analysts recently weighed in on PNFP shares. BidaskClub cut Zions Bancorporation NA from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 15th. Raymond James set a $8.00 target price on Superior Energy Services and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Stephens started coverage on LiqTech International in a research note on Tuesday. They set an “overweight” rating and a $13.00 target price for the company. Finally, Zacks Investment Research restated a “hold” rating on shares of Western New England Bancorp in a research note on Saturday, June 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $61.17.
In other Pinnacle Financial Partners news, Chairman Richard D. Callicutt II sold 4,035 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $59.01, for a total value of $238,105.35. Following the completion of the sale, the chairman now owns 129,269 shares in the company, valued at $7,628,163.69. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Vice Chairman Ronald L. Samuel sold 500 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $56.61, for a total value of $28,305.00. Following the completion of the sale, the insider now owns 22,675 shares of the company’s stock, valued at approximately $1,283,631.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,135 shares of company stock valued at $469,294. 2.97% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Private Capital Group LLC lifted its stake in Pinnacle Financial Partners by 76.6% in the first quarter. Private Capital Group LLC now owns 544 shares of the financial services provider’s stock valued at $30,000 after buying an additional 236 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Pinnacle Financial Partners in the first quarter valued at approximately $35,000. Valeo Financial Advisors LLC purchased a new stake in Pinnacle Financial Partners in the first quarter valued at approximately $39,000. Aspire Private Capital LLC purchased a new stake in Pinnacle Financial Partners in the fourth quarter valued at approximately $130,000. Finally, Advisors Asset Management Inc. lifted its stake in Pinnacle Financial Partners by 14.4% in the first quarter. Advisors Asset Management Inc. now owns 3,118 shares of the financial services provider’s stock valued at $171,000 after buying an additional 393 shares during the last quarter. Institutional investors own 80.54% of the company’s stock.
PNFP stock traded up $0.21 during trading on Friday, hitting $56.21. 852 shares of the company’s stock were exchanged, compared to its average volume of 399,731. The firm’s 50-day moving average price is $55.80. The firm has a market capitalization of $4.35 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 0.81 and a beta of 1.36. Pinnacle Financial Partners has a 52-week low of $43.23 and a 52-week high of $66.54. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 1.00.
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: The mechanics of the bid-ask spread in trading
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.