$250.99 Million in Sales Expected for Pinnacle Financial Partners (NASDAQ:PNFP) This Quarter
Analysts forecast that Pinnacle Financial Partners (NASDAQ:PNFP) will announce $250.99 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Pinnacle Financial Partners’ earnings, with the lowest sales estimate coming in at $248.90 million and the highest estimate coming in at $252.80 million. Pinnacle Financial Partners posted sales of $230.18 million during the same quarter last year, which would indicate a positive year over year growth rate of 9%. The business is scheduled to issue its next quarterly earnings report on Tuesday, July 16th.
According to Zacks, analysts expect that Pinnacle Financial Partners will report full year sales of $1.01 billion for the current fiscal year, with estimates ranging from $1.01 billion to $1.02 billion. For the next year, analysts forecast that the company will post sales of $1.10 billion, with estimates ranging from $1.07 billion to $1.11 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Pinnacle Financial Partners.
Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings data on Monday, April 15th. The financial services provider reported $1.24 EPS for the quarter, beating the consensus estimate of $1.21 by $0.03. The firm had revenue of $238.30 million during the quarter, compared to the consensus estimate of $246.03 million. Pinnacle Financial Partners had a net margin of 30.80% and a return on equity of 9.53%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.13 earnings per share.
Shares of NASDAQ:PNFP opened at $55.91 on Thursday. The stock has a market cap of $4.28 billion, a PE ratio of 11.80, a PEG ratio of 0.77 and a beta of 1.39. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. Pinnacle Financial Partners has a 12 month low of $43.23 and a 12 month high of $66.80.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 3rd were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Thursday, May 2nd. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 13.50%.
In other Pinnacle Financial Partners news, Director Charles E. Brock sold 2,000 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $56.05, for a total value of $112,100.00. Following the sale, the director now owns 36,304 shares in the company, valued at $2,034,839.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Ronald L. Samuel sold 1,600 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $56.74, for a total transaction of $90,784.00. Following the completion of the sale, the insider now owns 24,253 shares in the company, valued at approximately $1,376,115.22. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,635 shares of company stock worth $1,319,389. Corporate insiders own 2.97% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Enlightenment Research LLC purchased a new stake in Pinnacle Financial Partners in the fourth quarter worth about $28,000. Oregon Public Employees Retirement Fund grew its holdings in Pinnacle Financial Partners by 4,510.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,351,790 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,322,467 shares during the period. Private Capital Group LLC grew its holdings in Pinnacle Financial Partners by 76.6% in the first quarter. Private Capital Group LLC now owns 544 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 236 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Pinnacle Financial Partners in the first quarter worth about $35,000. Finally, Pearl River Capital LLC purchased a new stake in Pinnacle Financial Partners in the fourth quarter worth about $37,000. Institutional investors and hedge funds own 80.58% of the company’s stock.
Pinnacle Financial Partners Company Profile
Pinnacle Financial Partners, Inc operates as a bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The company accepts various deposits, including savings, checking, interest-bearing checking, money market, and certificate of deposit accounts.
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