Pinnacle Financial Partners (NASDAQ:PNFP) Announces Earnings Results, Beats Estimates By $0.08 EPS

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) announced its quarterly earnings data on Monday. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.08, Zacks reports. The business had revenue of $475.37 million for the quarter, compared to the consensus estimate of $478.11 million. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. During the same quarter in the prior year, the firm posted $1.53 earnings per share.

Pinnacle Financial Partners Stock Up 0.4 %

Pinnacle Financial Partners stock traded up $0.36 during midday trading on Friday, hitting $95.11. 548,597 shares of the company were exchanged, compared to its average volume of 508,731. The company has a market cap of $7.36 billion, a PE ratio of 15.90 and a beta of 0.94. Pinnacle Financial Partners has a fifty-two week low of $73.62 and a fifty-two week high of $131.91. The company's fifty day moving average price is $104.70 and its 200-day moving average price is $111.76. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.90 and a quick ratio of 0.90.

Pinnacle Financial Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 2nd will be paid a $0.24 dividend. The ex-dividend date is Friday, May 2nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.01%. Pinnacle Financial Partners's dividend payout ratio (DPR) is currently 15.53%.

Analyst Ratings Changes

A number of research analysts have weighed in on PNFP shares. Keefe, Bruyette & Woods reduced their price target on Pinnacle Financial Partners from $130.00 to $115.00 and set a "market perform" rating on the stock in a research note on Thursday. Barclays lowered their price target on Pinnacle Financial Partners from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Stephens reissued an "overweight" rating and issued a $142.00 target price on shares of Pinnacle Financial Partners in a research report on Wednesday, January 22nd. Wells Fargo & Company decreased their price target on shares of Pinnacle Financial Partners from $125.00 to $105.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. Finally, Citigroup increased their target price on Pinnacle Financial Partners from $123.00 to $132.00 and gave the stock a "buy" rating in a research report on Tuesday, December 31st. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $119.50.

Insider Buying and Selling at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, Director David B. Ingram sold 10,309 shares of the company's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $126.00, for a total value of $1,298,934.00. Following the completion of the transaction, the director now directly owns 82,256 shares of the company's stock, valued at $10,364,256. This represents a 11.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO M Terry Turner sold 2,000 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $100.63, for a total value of $201,260.00. Following the completion of the transaction, the chief executive officer now owns 254,552 shares in the company, valued at approximately $25,615,567.76. This trade represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 95,350 shares of company stock valued at $11,421,320 over the last 90 days. 1.46% of the stock is owned by corporate insiders.

Pinnacle Financial Partners Company Profile

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.