Pinnacle Financial Partners (NASDAQ:PNFP) – Investment analysts at SunTrust Banks dropped their Q1 2020 EPS estimates for Pinnacle Financial Partners in a research note issued to investors on Tuesday, December 31st. SunTrust Banks analyst J. Demba now expects that the financial services provider will post earnings per share of $1.26 for the quarter, down from their previous estimate of $1.27. SunTrust Banks currently has a “Buy” rating and a $74.00 target price on the stock. SunTrust Banks also issued estimates for Pinnacle Financial Partners’ Q4 2020 earnings at $1.41 EPS, FY2020 earnings at $5.43 EPS and FY2021 earnings at $5.90 EPS.
Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $1.45 EPS for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.10. The firm had revenue of $278.43 million during the quarter, compared to analyst estimates of $267.58 million. Pinnacle Financial Partners had a return on equity of 9.99% and a net margin of 30.38%. The company’s revenue was up 15.6% on a year-over-year basis. During the same period last year, the company earned $1.21 earnings per share.
Other analysts have also issued reports about the company. lowered Pinnacle Financial Partners from a “buy” rating to a “hold” rating in a research report on Friday, December 20th. Stephens reiterated a “hold” rating and issued a $63.00 price objective on shares of Pinnacle Financial Partners in a research report on Monday, September 16th. BidaskClub upgraded Pinnacle Financial Partners from a “hold” rating to a “buy” rating in a research report on Saturday, December 7th. upgraded Pinnacle Financial Partners from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. initiated coverage on Pinnacle Financial Partners in a report on Wednesday, September 18th. They set a “neutral” rating and a $62.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $64.14.
Institutional investors and hedge funds have recently modified their holdings of the business. Cerebellum GP LLC bought a new position in Pinnacle Financial Partners during the third quarter worth about $29,000. Synovus Financial Corp lifted its holdings in shares of Pinnacle Financial Partners by 529.1% during the 3rd quarter. Synovus Financial Corp now owns 1,189 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 1,000 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of Pinnacle Financial Partners by 43.6% during the 3rd quarter. Valeo Financial Advisors LLC now owns 1,719 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 522 shares in the last quarter. Ellington Management Group LLC bought a new position in shares of Pinnacle Financial Partners during the 2nd quarter valued at about $201,000. Finally, Gibson Capital LLC bought a new position in shares of Pinnacle Financial Partners during the 3rd quarter valued at about $204,000. Hedge funds and other institutional investors own 78.52% of the company’s stock.
In other Pinnacle Financial Partners news, Director Ronald L. Samuel sold 500 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $58.76, for a total transaction of $29,380.00. Following the transaction, the director now owns 21,205 shares in the company, valued at $1,246,005.80. The sale was disclosed in a document filed with the SEC, which is available through . Also, Chairman Richard D. Callicutt II sold 21,841 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $60.42, for a total value of $1,319,633.22. Following the transaction, the chairman now owns 112,645 shares in the company, valued at approximately $6,806,010.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,601 shares of company stock worth $2,632,194. Company insiders own 2.97% 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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