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

Key Points

• Pinnacle Financial Partners declared a quarterly dividend of $0.50 per share, payable August 28 to shareholders of record on August 7. The dividend implies a $2.00 annual payout and a 1.9% yield.
• The dividend appears well covered, with a current payout ratio of 23.1%; analysts expect next year’s earnings to support an estimated payout ratio of 17.3%.
• Pinnacle reported quarterly EPS of $2.50, exceeding consensus by $0.04, while revenue of $1.24 billion matched estimates. Shares opened at $103.22, up 0.6%.

Pinnacle Financial Partners, Inc. (NYSE:PNFP - Get Free Report) announced a quarterly dividend on Monday, July 27th. Shareholders of record on Friday, August 7th will be given a dividend of 0.50 per share on Friday, August 28th. This represents a c) dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, August 7th.

Pinnacle Financial Partners has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 1 years. Pinnacle Financial Partners has a dividend payout ratio of 23.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Pinnacle Financial Partners to earn $11.53 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 17.3%.

Pinnacle Financial Partners Trading Up 0.6%

Shares of NYSE:PNFP opened at $103.22 on Tuesday. The business's 50 day moving average is $98.07. Pinnacle Financial Partners has a twelve month low of $81.08 and a twelve month high of $107.00. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. The stock has a market cap of $8.01 billion, a P/E ratio of 14.18, a PEG ratio of 0.41 and a beta of 1.04.

Pinnacle Financial Partners (NYSE:PNFP - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The company reported $2.50 EPS for the quarter, beating analysts' consensus estimates of $2.46 by $0.04. Pinnacle Financial Partners had a net margin of 15.40% and a return on equity of 10.93%. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. As a group, equities research analysts predict that Pinnacle Financial Partners will post 10.18 EPS for the current fiscal year.

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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