Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Declares Quarterly Dividend of $0.18

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) announced a quarterly dividend on Tuesday, July 20th, Zacks reports. Stockholders of record on Friday, August 6th will be paid a dividend of 0.18 per share by the financial services provider on Friday, August 27th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Thursday, August 5th.

Pinnacle Financial Partners has raised its dividend payment by 14.3% over the last three years and has increased its dividend annually for the last 1 consecutive years.

Shares of NASDAQ PNFP opened at $89.65 on Thursday. The firm has a 50-day simple moving average of $89.14. The firm has a market capitalization of $6.82 billion, a PE ratio of 13.81 and a beta of 1.38. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.92. Pinnacle Financial Partners has a 52 week low of $32.80 and a 52 week high of $96.52.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its earnings results on Monday, July 19th. The financial services provider reported $1.68 EPS for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.24. Pinnacle Financial Partners had a net margin of 34.35% and a return on equity of 10.47%. The business had revenue of $331.43 million during the quarter, compared to analysts’ expectations of $315.54 million. During the same period in the prior year, the business earned $1.28 earnings per share. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. Equities research analysts expect that Pinnacle Financial Partners will post 5.87 earnings per share for the current fiscal year.

Several research firms recently issued reports on PNFP. Zacks Investment Research upgraded shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a research report on Wednesday, June 30th. Wells Fargo & Company upgraded shares of Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and set a $105.00 price objective for the company in a research report on Wednesday, April 21st. Seaport Res Ptn restated a “buy” rating on shares of Pinnacle Financial Partners in a research report on Friday, May 21st. Raymond James restated a “market perform” rating on shares of Pinnacle Financial Partners in a research report on Tuesday, April 27th. Finally, Seaport Global Securities initiated coverage on shares of Pinnacle Financial Partners in a research report on Friday, May 21st. They set a “buy” rating and a $103.00 price objective for the company. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $90.00.

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 in the United States. The company accepts various deposits, including savings, checking, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts.

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Dividend History for Pinnacle Financial Partners (NASDAQ:PNFP)

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