Pinnacle Financial Partners, Inc. Plans Quarterly Dividend of $0.24 (NASDAQ:PNFP)

Key Points

• Pinnacle Financial Partners, Inc. has declared a quarterly dividend of $0.24 per share, payable on November 28th to shareholders of record on November 7th, with an annualized yield of 1.1%.
• The company reported $2.27 EPS for the last quarter, exceeding analyst expectations of $2.05, and had revenues of $544.80 million against a forecast of $526.40 million.
• Pinnacle Financial has a low payout ratio of 11.1%, suggesting that it can comfortably sustain its dividend payments, with expected earnings next year at $8.99 per share.

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Get Free Report) declared a quarterly dividend on Tuesday, October 21st. Shareholders of record on Friday, November 7th will be paid a dividend of 0.24 per share by the financial services provider on Friday, November 28th. This represents a c) dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, November 7th.

Pinnacle Financial Partners has a payout ratio of 11.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Pinnacle Financial Partners to earn $8.99 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 10.7%.

Pinnacle Financial Partners Stock Performance

Shares of NASDAQ:PNFP opened at $88.43 on Wednesday. Pinnacle Financial Partners has a 52 week low of $81.57 and a 52 week high of $131.91. The stock has a market capitalization of $6.86 billion, a P/E ratio of 11.24 and a beta of 1.02. The firm has a fifty day simple moving average of $94.12 and a two-hundred day simple moving average of $100.36. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.33.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last released its earnings results on Wednesday, October 15th. The financial services provider reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.22. The firm had revenue of $544.80 million during the quarter, compared to analyst estimates of $526.40 million. Pinnacle Financial Partners had a net margin of 19.17% and a return on equity of 9.91%. During the same quarter last year, the business earned $1.86 EPS. On average, analysts expect that Pinnacle Financial Partners will post 7.85 earnings per share for the current fiscal year.

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 to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.

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