Pinnacle Financial Partners, Inc. Announces Quarterly Dividend of $0.50 (NYSE:PNFP)

Key Points

• Pinnacle declared a quarterly dividend of $0.50 per share, with a record date of May 1 and payable on May 29, representing a $2.00 annualized dividend and a 2.0% yield.
• The dividend appears well covered with a current payout ratio of 23.1%; analysts expect $11.81 in EPS next year, implying a projected payout ratio of about 16.9%.
• Pinnacle trades near $98.18 with a market capitalization of $7.62 billion, a P/E of 12.14, and a 52-week range of $81.08–$120.46.

Pinnacle Financial Partners, Inc. (NYSE:PNFP - Get Free Report) declared a quarterly dividend on Monday, April 20th. Stockholders of record on Friday, May 1st will be paid a dividend of 0.50 per share on Friday, May 29th. This represents a c) annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, May 1st.

Pinnacle Financial Partners has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Pinnacle Financial Partners has a dividend payout ratio of 23.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Pinnacle Financial Partners to earn $11.81 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 16.9%.

Pinnacle Financial Partners Stock Performance

PNFP opened at $98.18 on Tuesday. Pinnacle Financial Partners has a 1-year low of $81.08 and a 1-year high of $120.46. The firm has a market capitalization of $7.62 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 0.33 and a beta of 1.00. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32.

About Pinnacle Financial Partners

Pinnacle Financial Partners NYSE: PNFP is a bank holding company headquartered in Nashville, Tennessee, that provides a broad range of commercial and consumer banking services. Founded in 2000, the company operates through a network of banking offices and digital channels to serve individuals, small and middle-market businesses, and institutional clients. Pinnacle’s business model emphasizes relationship-based banking and tailored financial solutions for commercial borrowers and deposit customers.

The company’s product and service offerings include commercial and residential lending, treasury and payment solutions, deposit accounts, mortgage services, and cash management.

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