Today: The Pinnacle Financial Partners Inc. (PNFP) Set to Announce Quarterly Earnings on Tuesday

The Pinnacle Financial Partners Inc. (PNFP) Set to Announce Quarterly Earnings on Tuesday

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

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