Pinnacle Financial Partners Inc. (NASDAQ:PNFP) will announce its Q316 earnings results on Tuesday, October 18th. Analysts expect the company to announce earnings of $0.78 per share and revenue of $22.11 million for the quarter.
Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.75. Pinnacle Financial Partners had a net margin of 26.36% and a return on equity of 9.58%. On average, analysts expect Pinnacle Financial Partners to post $3.03 EPS for the current fiscal year and $3.47 EPS for the next fiscal year.
Shares of Pinnacle Financial Partners Inc. (NASDAQ:PNFP) opened at 53.42 on Friday. Pinnacle Financial Partners Inc. has a one year low of $43.32 and a one year high of $57.99. The stock has a market capitalization of $2.22 billion, a P/E ratio of 19.85 and a beta of 1.54. The company’s 50-day moving average is $55.36 and its 200-day moving average is $51.57.
A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Tuesday. Sandler O’Neill downgraded shares of Pinnacle Financial Partners from a “buy” rating to a “hold” rating and set a $60.00 price objective for the company. in a research report on Tuesday, September 13th. SunTrust Banks Inc. boosted their price objective on shares of Pinnacle Financial Partners from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, July 15th. Finally, Piper Jaffray Cos. upgraded shares of Pinnacle Financial Partners from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $51.00 to $60.00 in a research report on Tuesday, July 12th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Pinnacle Financial Partners presently has an average rating of “Buy” and an average price target of $57.00.
In other news, Director William H. Iv Huddleston sold 10,000 shares of the stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $53.96, for a total transaction of $539,600.00. Following the transaction, the director now directly owns 55,863 shares in the company, valued at approximately $3,014,367.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 6.30% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Advisor Group Inc. acquired a new stake in Pinnacle Financial Partners during the second quarter worth about $111,000. Profund Advisors LLC increased its stake in Pinnacle Financial Partners by 2.3% in the second quarter. Profund Advisors LLC now owns 5,289 shares of the financial services provider’s stock worth $258,000 after buying an additional 119 shares during the period. Capstone Investment Advisors LLC acquired a new stake in Pinnacle Financial Partners during the second quarter worth about $295,000. Barclays PLC increased its stake in Pinnacle Financial Partners by 657.9% in the second quarter. Barclays PLC now owns 6,200 shares of the financial services provider’s stock worth $303,000 after buying an additional 5,382 shares during the period. Finally, ProShare Advisors LLC increased its stake in Pinnacle Financial Partners by 5.2% in the second quarter. ProShare Advisors LLC now owns 6,277 shares of the financial services provider’s stock worth $307,000 after buying an additional 312 shares during the period. 63.99% of the stock is owned by hedge funds and other institutional investors.
About Pinnacle Financial Partners