Pinnacle Financial Partners (NASDAQ:PNFP) – Research analysts at SunTrust Banks decreased their Q1 2020 earnings estimates for Pinnacle Financial Partners in a note issued to investors on Tuesday, December 31st. SunTrust Banks analyst J. Demba now forecasts that the financial services provider will post earnings of $1.26 per share for the quarter, down from their prior estimate of $1.27. SunTrust Banks has a “Buy” rating and a $74.00 price objective on the stock. SunTrust Banks also issued estimates for Pinnacle Financial Partners’ Q4 2020 earnings at $1.41 EPS, FY2020 earnings at $5.43 EPS and FY2021 earnings at $5.90 EPS.
Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $1.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.10. The business had revenue of $278.43 million during the quarter, compared to the consensus estimate of $267.58 million. Pinnacle Financial Partners had a return on equity of 9.99% and a net margin of 30.38%. Pinnacle Financial Partners’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.21 earnings per share.
Several other equities research analysts have also recently weighed in on the company. ValuEngine raised Pinnacle Financial Partners from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 19th. Zacks Investment Research lowered Pinnacle Financial Partners from a “buy” rating to a “hold” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. started coverage on Pinnacle Financial Partners in a report on Wednesday, September 18th. They issued a “neutral” rating and a $62.00 target price on the stock. BidaskClub downgraded shares of Pinnacle Financial Partners from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Stephens restated a “hold” rating and set a $63.00 price target on shares of Pinnacle Financial Partners in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $64.14.
NASDAQ PNFP opened at $63.69 on Friday. The business’s 50-day moving average price is $62.63 and its two-hundred day moving average price is $58.16. Pinnacle Financial Partners has a 12 month low of $46.78 and a 12 month high of $65.00. The firm has a market capitalization of $4.93 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 0.74 and a beta of 1.46. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65.
Several large investors have recently added to or reduced their stakes in PNFP. Cerebellum GP LLC bought a new position in Pinnacle Financial Partners during the third quarter worth $29,000. Synovus Financial Corp boosted its position in shares of Pinnacle Financial Partners by 529.1% during the 3rd quarter. Synovus Financial Corp now owns 1,189 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 1,000 shares in the last quarter. Valeo Financial Advisors LLC boosted its position in shares of Pinnacle Financial Partners by 43.6% during the 3rd quarter. Valeo Financial Advisors LLC now owns 1,719 shares of the financial services provider’s stock worth $98,000 after purchasing an additional 522 shares in the last quarter. Ellington Management Group LLC acquired a new stake in shares of Pinnacle Financial Partners in the 2nd quarter valued at about $201,000. Finally, Gibson Capital LLC acquired a new stake in shares of Pinnacle Financial Partners in the 3rd quarter valued at about $204,000. Institutional investors own 78.52% of the company’s stock.
In other Pinnacle Financial Partners news, Director Gary L. Scott sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $59.75, for a total value of $418,250.00. Following the transaction, the director now directly owns 37,587 shares of the company’s stock, valued at $2,245,823.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ronald L. Samuel sold 500 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $58.76, for a total value of $29,380.00. Following the completion of the transaction, the director now directly owns 21,205 shares in the company, valued at $1,246,005.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,601 shares of company stock valued at $2,632,194. Company insiders own 2.97% of the company’s stock.
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.
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