Pinnacle Financial Partners (PNFP) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS
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.
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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.
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