Economy

Pinnacle Financial Partners, Inc. (PNFP) Announces Earnings Results

Creative Planning acquired a new position in Pinnacle Financial Partners in the first quarter worth about $107,000. The Massachusetts-based Copper Rock Capital Partners Llc has invested 1.76% in the stock. Glen Harbor Capital Management LLC now owns 1,716 shares of the financial services provider's stock valued at $114,000 after buying an additional 110 shares during the period. Elkfork Partners LLC lifted its position in Pinnacle Financial Partners by 6.8% during the first quarter. Elkfork Partners LLC now owns 2,184 shares of the financial services provider's stock worth $145,000 after buying an additional 140 shares in the last quarter. Fenimore Asset Management Inc, a New York-based fund reported 334,861 shares.#img1#.

A number of research analysts have weighed in on PNFP shares.

Among 11 analysts covering Pinnacle Financial Partners (NASDAQ:PNFP), 3 have Buy rating, 0 Sell and 8 Hold. Keefe, Bruyette & Woods downgraded Pinnacle Financial Partners from an "outperform" rating to a "market perform" rating and set a $55.00 price target for the company.in a report on Thursday, October 20th. Finally, Stephens downgraded Pinnacle Financial Partners from an "overweight" rating to an "equal weight" rating in a report on Wednesday. Also, CEO M Terry Turner sold 101,480 shares of the firm's stock in a transaction dated Monday, July 24th. Joseph C. Galante, Director purchased $59,400 worth of shares at an average price of $59.40 on Thursday the 7th. If you are accessing this report on another publication, it was copied illegally and republished in violation of USA & global copyright and trademark law. If you are accessing this story on another publication, it was stolen and reposted in violation of worldwide copyright & trademark laws.

Pinnacle Financial Partners (NASDAQ PNFP) opened at 59.95 on Wednesday. (NASDAQ:PNFP) was $58.4 and the volume amounted to 0.6 million shares which compares with the average volume of 0.76 million shares. Following the sale, the chief executive officer now directly owns 538,441 shares in the company, valued at approximately $34,901,745.62. Samuel Ronald L had sold 1,500 shares worth $96,705. Moving averages are considered to be lagging indicators that simply take the average price of a stock over a certain period of time. Following the transaction, the insider now directly owns 64,794 shares of the company's stock, valued at $4,277,699.88. The disclosure for this sale can be found here. Zooming in closer, company stock has been -7.61% for the quarter, 0.57% over the past month, and -2.23% over the past week. Insiders own 5.41% of the company's stock. Pinnacle Financial Partners has a 52 week low of $49.40 and a 52 week high of $71.85. The latest exchange of 1.48 Million shares is below its average trading activity of 1.48 Million shares. Geode Capital Limited Com invested in 336,090 shares or 0.01% of the stock. Natixis stated it has 0% in Pinnacle Financial Partners (NASDAQ:PNFP). It fall, as 19 investors sold Pinnacle Financial Partners shares while 64 reduced holdings.

The P/E ratio is 19.71 and the market cap is 4.72B. The stock of Pinnacle Financial Partners (NASDAQ:PNFP) earned "Outperform" rating by Wood on Friday, September 11. The financial services provider reported $0.84 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.80 by $0.04. Its revenue totaled $128.06 million up 7.48% from the previous quarter. The return on equity ratio or ROE stands at 7.3 percent while most common profitability ratio return on investment (ROI) was 13.1 percent. Next quarter's EPS is forecasted at $0.93 with next year's EPS anticipated to be $4.25.

Pinnacle Financial Partners Inc holds 3.47% of its portfolio in Pinnacle Financial Partners for 231,730 shares.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 4th were given a $0.14 dividend. This dividend represents a yeild of $0.91 which is the dividend as a percentage of the current share price. Piper Jaffray initiated Pinnacle Financial Partners (NASDAQ:PNFP) rating on Monday, August 24.

Pinnacle Financial Partners, Inc (Pinnacle) is a bank holding company. As of December 31, 2016, the Company operated 344 sales centers in North America, Europe, South America and Australia, through its four distribution networks, including SCP Distributors, Superior Pool Products (Superior), Horizon Distributors (Horizon) and National Pool Tile (NPT). The Company operates as a community bank primarily in the urban markets of Nashville, Knoxville, Memphis and Chattanooga, Tennessee and other counties.



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