Pinnacle Financial Partners (PNFP) Set to Post Earnings on Tuesday

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) is set to release its earnings data after the market closes on Tuesday, October 15th. Analysts expect Pinnacle Financial Partners to post earnings of $1.81 per share for the quarter. Parties interested in registering for the company's conference call can do so using this link.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last posted its earnings results on Tuesday, July 16th. The financial services provider reported $1.63 EPS for the quarter, beating the consensus estimate of $1.60 by $0.03. The company had revenue of $366.55 million for the quarter, compared to the consensus estimate of $426.40 million. Pinnacle Financial Partners had a return on equity of 8.97% and a net margin of 13.93%. On average, analysts expect Pinnacle Financial Partners to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Pinnacle Financial Partners Stock Performance

NASDAQ:PNFP traded down $0.52 during mid-day trading on Tuesday, hitting $94.53. 161,843 shares of the stock were exchanged, compared to its average volume of 462,186. The firm's 50-day simple moving average is $94.03 and its 200 day simple moving average is $86.10. The stock has a market capitalization of $7.30 billion, a price-to-earnings ratio of 13.60 and a beta of 1.05. Pinnacle Financial Partners has a fifty-two week low of $59.66 and a fifty-two week high of $100.76. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 0.90.

Pinnacle Financial Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 2nd were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Friday, August 2nd. Pinnacle Financial Partners's payout ratio is currently 12.59%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays boosted their price objective on shares of Pinnacle Financial Partners from $97.00 to $101.00 and gave the company an "equal weight" rating in a research report on Friday, September 27th. Wells Fargo & Company lowered Pinnacle Financial Partners from an "overweight" rating to an "equal weight" rating and set a $100.00 target price for the company. in a research report on Tuesday, October 1st. Piper Sandler downgraded shares of Pinnacle Financial Partners from an "overweight" rating to a "neutral" rating and boosted their price target for the stock from $95.00 to $98.00 in a research report on Thursday, July 18th. Citigroup upped their target price on Pinnacle Financial Partners from $93.00 to $113.00 and gave the company a "buy" rating in a research report on Thursday, July 18th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Pinnacle Financial Partners from $108.00 to $105.00 and set an "overweight" rating on the stock in a research report on Thursday, June 27th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $102.10.

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.