Pinnacle Financial Partners (NASDAQ:PNFP) announced its quarterly earnings results on Tuesday. The financial services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.03, Briefing.com reports. The company had revenue of $211.20 million during the quarter, compared to analysts’ expectations of $224.62 million. Pinnacle Financial Partners had a return on equity of 7.36% and a net margin of 27.41%. Pinnacle Financial Partners’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the business earned $0.83 earnings per share.

Shares of Pinnacle Financial Partners (NASDAQ:PNFP) traded down $0.70 on Wednesday, reaching $67.85. The company’s stock had a trading volume of 699,700 shares, compared to its average volume of 459,120. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.98 and a current ratio of 0.99. The firm has a market capitalization of $5,050.00, a price-to-earnings ratio of 20.94, a P/E/G ratio of 1.04 and a beta of 1.31. Pinnacle Financial Partners has a one year low of $58.40 and a one year high of $71.55.

In other news, Director Thomas R. Sloan sold 10,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $67.25, for a total value of $672,500.00. Following the sale, the director now directly owns 128,257 shares of the company’s stock, valued at $8,625,283.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Harold R. Carpenter sold 17,711 shares of Pinnacle Financial Partners stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $67.45, for a total value of $1,194,606.95. Following the completion of the sale, the chief financial officer now directly owns 107,090 shares in the company, valued at $7,223,220.50. The disclosure for this sale can be found here. Insiders sold 112,882 shares of company stock worth $7,573,063 over the last ninety days. Corporate insiders own 5.41% of the company’s stock.

PNFP has been the topic of several research analyst reports. Piper Jaffray Companies set a $76.00 price objective on Pinnacle Financial Partners and gave the company a “buy” rating in a report on Thursday, November 30th. Zacks Investment Research raised Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a report on Wednesday, December 20th. BidaskClub raised Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. Wells Fargo & Co initiated coverage on Pinnacle Financial Partners in a report on Thursday, December 21st. They issued an “outperform” rating and a $80.00 price objective on the stock. Finally, Hilliard Lyons lowered Pinnacle Financial Partners from a “buy” rating to a “neutral” rating and set a $74.00 price objective on the stock. in a report on Friday, October 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $75.17.

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Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc is a bank holding company. The Company operates through its subsidiary, Pinnacle Bank. The Company operates as a community bank primarily in the urban markets of Nashville, Knoxville, Memphis and Chattanooga, Tennessee and other counties. It provides the personalized service associated with small community banks, while seeking to offer the products and services, such as investments and treasury management.

Earnings History for Pinnacle Financial Partners (NASDAQ:PNFP)

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