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. Its loan products include commercial loans, such as equipment and working capital loans; commercial real estate loans comprising investment properties and business loans secured by real estate; and loans to individuals consisting of secured and unsecured installment and term loans, lines of credit, residential first mortgage loans, and home equity loans and lines of credit, as well as provides credit cards for consumers and businesses. The company also offers various securities and other financial products; investment products; brokerage and investment advisory programs; and fiduciary and investment management services, such as personal trust, endowments, foundations, individual retirement accounts, pensions, and custody. In addition, it provides insurance agency services primarily in the property and casualty area; merger and acquisition advisory services; and private debt, equity and mezzanine, and other middle-market advisory services. Further, the company offers treasury management, telephone and online banking, mobile banking, debit cards, direct deposit and remote deposit capture, mobile deposit option, automated teller machine, and cash management services. It serves individuals, small to medium-sized businesses, and professional entities. As of December 31, 2020, the company operated 114 offices, including 48 in Tennessee, 36 in North Carolina, 20 in South Carolina, 9 in Virginia, and 1 in Georgia. Pinnacle Financial Partners, Inc. was incorporated in 2000 and is headquartered in Nashville, Tennessee.
IPO Year:
Exchange: NASDAQ
Website: pnfp.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/1/2024 | $100.00 | Overweight → Equal Weight | Wells Fargo |
| 9/27/2024 | $110.00 → $114.00 | Outperform | Hovde Group |
| 7/18/2024 | $95.00 → $98.00 | Overweight → Neutral | Piper Sandler |
| 4/23/2024 | $104.00 → $99.00 | Outperform | Hovde Group |
| 3/8/2024 | $93.00 | Equal Weight | Barclays |
| 12/1/2023 | $86.00 | Buy | Citigroup |
| 10/10/2023 | $71.00 | Underperform → Hold | Jefferies |
| 10/6/2022 | Outperform → Mkt Perform | Raymond James | |
| 7/11/2022 | $85.00 → $66.00 | Hold → Underperform | Jefferies |
| 7/7/2022 | $85.00 | Mkt Perform → Outperform | Raymond James |
Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) reported net income per diluted common share of $1.86 for the quarter ended Sept. 30, 2024, compared to net income per diluted common share of $1.69 for the quarter ended Sept. 30, 2023, an increase of approximately 10.1 percent. Net income per diluted common share was $4.08 for the nine months ended Sept. 30, 2024, compared to $5.99 for the nine months ended Sept. 30, 2023, a decrease of approximately 31.9 percent. After considering the adjustments noted in the table below, net income per diluted common share was $1.86 for the three months ended Sept. 30, 2024, compared to $1.79 for the three months ended Sept. 30, 2023, and $1.63 for t
Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) today announced it will release its third quarter 2024 financial results on Tuesday, October 15, 2024, after market close. It will also host a live webcast on Wednesday, October 16, at 8:30 a.m. CDT to review its financial results, business outlook for the firm and other matters. The third quarter 2024 earnings release will be available on the investor relations page of Pinnacle's website at www.pnfp.com. To access the call for audio only, please call 1-877-209-7255. For the presentation and streaming audio, please access the webcast on the investor relations page of Pinnacle's website at www.pnfp.com. For those unable to participate in
Competitive landscape, high-value markets lead to significant growth in FDIC deposit data Pinnacle Financial Partners remains the largest bank in the Nashville MSA by deposits, marking seven consecutive years at No. 1. The firm held $19.7 billion in local deposits, which is 21.2 percent of the total market and 52.2 percent above the closest competitor, according to FDIC data as of and for the 12-months ended June 30, 2024. Pinnacle is No. 3 in deposit dollars added despite nearly a decade of dominance in the market. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240924302245/en/Pinnacle is the No. 1 bank in Nashville with $19.7
Great Place to Work® and FORTUNE rank the firm third nationwide Pinnacle Financial Partners has once again been named among the nation's Best Large Workplaces in Financial Services and Insurance by FORTUNE magazine and Great Place to Work®, climbing to the No. 3 spot for 2024. That's up from No. 7 in 2023 and places the firm on a top 10 list of much larger national and international brands. This marks the eighth consecutive year Pinnacle has earned this recognition, reinforcing its reputation as a destination for top-tier talent in the banking industry. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240911899671/en/Pinnacle asso
Tenured credit professional will serve on firm's senior leadership team Pinnacle Financial Partners (Nasdaq/NGS: PNFP) has named Charissa Sumerlin the firm's chief credit officer effective immediately. She succeeds Harvey White, who served as interim chief credit officer following the sudden death of Tim Huestis in late 2023. The Board of Directors unanimously voted to approve Sumerlin's appointment at its meeting on July 16, 2024. "Charissa was the clear choice for this role, and we welcome her to Pinnacle's senior leadership team," Pinnacle President and CEO M. Terry Turner said. "She has been a critical leader for our credit team as we've bolstered our processes to scale for growth.
Excluding impacts of capital optimization and balance sheet repositioning initiatives, diluted EPS of $1.63 Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) reported net income per diluted common share of $0.64 for the quarter ended June 30, 2024, compared to net income per diluted common share of $2.54 for the quarter ended June 30, 2023, a decrease of approximately 74.8 percent. Net income per diluted common share was $2.21 for the six months ended June 30, 2024, compared to $4.30 for the six months ended June 30, 2023, a decrease of approximately 48.6 percent. After considering the adjustments noted in the table below, net income per diluted common share was $1.63 for the three m
Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) today announced it will release its second quarter 2024 financial results on Tuesday, July 16, 2024, after market close. It will also host a live webcast on Wednesday, July 17, at 8:30 a.m. CDT to review its financial results, business outlook for the firm and other matters. The second quarter 2024 earnings release will be available on the investor relations page of Pinnacle's website at www.pnfp.com. To access the call for audio only, please call 1-877-209-7255. For the presentation and streaming audio, please access the webcast on the investor relations page of Pinnacle's website at www.pnfp.com. For those unable to participate in the
Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) announced today that its Board of Directors has approved a $0.22 per share cash dividend to be paid on May 31, 2024 to common shareholders of record as of the close of business on May 3, 2024. Additionally, the board of directors approved a quarterly dividend of approximately $3.8 million, or $16.88 per share (or $0.422 per depositary share), on Pinnacle Financial's 6.75 percent Series B Non-Cumulative Perpetual Preferred Stock payable on June 1, 2024 to shareholders of record at the close of business on May 17, 2024. The amount and timing of any future dividend payments to both preferred and common shareholders will be subject to the app
Total revenues increased 32.1 percent linked-quarter annualized and 6.6 percent year-over-year Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) reported net income per diluted common share of $1.57 for the quarter ended March 31, 2024, compared to net income per diluted common share of $1.76 for the quarter ended March 31, 2023, a decrease of 10.8 percent. Several meaningful items impacted first quarter 2024 results. The firm's allowance for credit losses increased to 1.12 percent of total loans at March 31, 2024, compared to 1.08 percent at Dec. 31, 2023. Although, key loan quality metrics like the potential problem loans to total loans ratio and the classified asset ratio remain b
Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) today announced it will release its first quarter 2024 financial results on Monday, April 22, 2024, after market close. It will also host a live webcast on Tuesday, April 23, at 8:30 a.m. CDT to review its financial results, business outlook for the firm and other matters. The first quarter 2024 earnings release will be available on the investor relations page of Pinnacle's website at www.pnfp.com. To access the call for audio only, please call 1-877-209-7255. For the presentation and streaming audio, please access the webcast on the investor relations page of Pinnacle's website at www.pnfp.com. For those unable to participate in the we
Wells Fargo downgraded Pinnacle Finl from Overweight to Equal Weight and set a new price target of $100.00
Hovde Group reiterated coverage of Pinnacle Finl with a rating of Outperform and set a new price target of $114.00 from $110.00 previously
Piper Sandler downgraded Pinnacle Finl from Overweight to Neutral and set a new price target of $98.00 from $95.00 previously
Hovde Group reiterated coverage of Pinnacle Finl with a rating of Outperform and set a new price target of $99.00 from $104.00 previously
Barclays initiated coverage of Pinnacle Finl with a rating of Equal Weight and set a new price target of $93.00
Citigroup initiated coverage of Pinnacle Finl with a rating of Buy and set a new price target of $86.00
Jefferies upgraded Pinnacle Finl from Underperform to Hold and set a new price target of $71.00
Raymond James downgraded Pinnacle Finl from Outperform to Mkt Perform
Jefferies downgraded Pinnacle Finl from Hold to Underperform and set a new price target of $66.00 from $85.00 previously
Raymond James upgraded Pinnacle Finl from Mkt Perform to Outperform and set a new price target of $85.00
Former Truist Regional President Scott Keith leads the team from Jacksonville Pinnacle Financial Partners has entered the North Florida region with the addition of five veteran financial services professionals to build the firm's presence from their homebase in Jacksonville. Scott Keith will serve as Pinnacle's regional president for North Florida, with Debbie Buckland and Bryan Taylor by his side as area managers. Financial Advisor Vaughn Winmond and Credit Analyst Fatima Bowen round out the initial team, which is expected to grow rapidly as more associates come on board to offer a full suite of financial services for business and personal needs. This press release features multimedia.
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Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) reported net income per diluted common share of $1.86 for the quarter ended Sept. 30, 2024, compared to net income per diluted common share of $1.69 for the quarter ended Sept. 30, 2023, an increase of approximately 10.1 percent. Net income per diluted common share was $4.08 for the nine months ended Sept. 30, 2024, compared to $5.99 for the nine months ended Sept. 30, 2023, a decrease of approximately 31.9 percent. After considering the adjustments noted in the table below, net income per diluted common share was $1.86 for the three months ended Sept. 30, 2024, compared to $1.79 for the three months ended Sept. 30, 2023, and $1.63 for t
Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) today announced it will release its third quarter 2024 financial results on Tuesday, October 15, 2024, after market close. It will also host a live webcast on Wednesday, October 16, at 8:30 a.m. CDT to review its financial results, business outlook for the firm and other matters. The third quarter 2024 earnings release will be available on the investor relations page of Pinnacle's website at www.pnfp.com. To access the call for audio only, please call 1-877-209-7255. For the presentation and streaming audio, please access the webcast on the investor relations page of Pinnacle's website at www.pnfp.com. For those unable to participate in
Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) today announced it will release its second quarter 2024 financial results on Tuesday, July 16, 2024, after market close. It will also host a live webcast on Wednesday, July 17, at 8:30 a.m. CDT to review its financial results, business outlook for the firm and other matters. The second quarter 2024 earnings release will be available on the investor relations page of Pinnacle's website at www.pnfp.com. To access the call for audio only, please call 1-877-209-7255. For the presentation and streaming audio, please access the webcast on the investor relations page of Pinnacle's website at www.pnfp.com. For those unable to participate in the
Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) announced today that its Board of Directors has approved a $0.22 per share cash dividend to be paid on May 31, 2024 to common shareholders of record as of the close of business on May 3, 2024. Additionally, the board of directors approved a quarterly dividend of approximately $3.8 million, or $16.88 per share (or $0.422 per depositary share), on Pinnacle Financial's 6.75 percent Series B Non-Cumulative Perpetual Preferred Stock payable on June 1, 2024 to shareholders of record at the close of business on May 17, 2024. The amount and timing of any future dividend payments to both preferred and common shareholders will be subject to the app
Total revenues increased 32.1 percent linked-quarter annualized and 6.6 percent year-over-year Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) reported net income per diluted common share of $1.57 for the quarter ended March 31, 2024, compared to net income per diluted common share of $1.76 for the quarter ended March 31, 2023, a decrease of 10.8 percent. Several meaningful items impacted first quarter 2024 results. The firm's allowance for credit losses increased to 1.12 percent of total loans at March 31, 2024, compared to 1.08 percent at Dec. 31, 2023. Although, key loan quality metrics like the potential problem loans to total loans ratio and the classified asset ratio remain b
Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) today announced it will release its first quarter 2024 financial results on Monday, April 22, 2024, after market close. It will also host a live webcast on Tuesday, April 23, at 8:30 a.m. CDT to review its financial results, business outlook for the firm and other matters. The first quarter 2024 earnings release will be available on the investor relations page of Pinnacle's website at www.pnfp.com. To access the call for audio only, please call 1-877-209-7255. For the presentation and streaming audio, please access the webcast on the investor relations page of Pinnacle's website at www.pnfp.com. For those unable to participate in the we
Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) reported net income per diluted common share of $1.19 for the quarter ended Dec. 31, 2023, compared to net income per diluted common share of $1.76 for the quarter ended Dec. 31, 2022, a decrease of 32.4 percent. Net income per diluted common share was $7.14 for the year ended Dec. 31, 2023, compared to $7.17 for the year ended Dec. 31, 2022, a decrease of 0.4 percent. After considering the adjustments noted in the table below for the three months ended Dec. 31, 2023 and 2022, net income per diluted common share was $1.68, compared to $1.76 for the three months ended Dec. 31, 2022. Net income per diluted common share adjusted for the it
Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) today announced it will release its fourth quarter 2023 financial results on Tuesday, Jan. 16, 2024, after market close. It will also host a live webcast on Wednesday, Jan. 17, at 8:30 a.m. CST to review its financial results, business outlook for the firm and other matters. The fourth quarter 2023 earnings release will be available on the investor relations page of Pinnacle's website at www.pnfp.com. To access the call for audio only, please call 1-877-209-7255. For the presentation and streaming audio, please access the webcast on the investor relations page of Pinnacle's website at www.pnfp.com. For those unable to participate in the
3Q23 annualized linked-quarter, end-of-period loans and core deposits grew 10.1% Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) reported net income per diluted common share of $1.69 for the quarter ended Sept. 30, 2023, compared to net income per diluted common share of $1.91 for the quarter ended Sept. 30, 2022, a decrease of 11.5 percent. Net income per diluted common share was $5.99 for the nine months ended Sept. 30, 2023, compared to $5.42 for the nine months ended Sept. 30, 2022, an increase of approximately 10.5 percent. Three Months Ended Nine Months Ended September 30, 2023 June 30, 2023 September 30, 2022
Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) today announced it will release its third quarter 2023 financial results on Tuesday, October 17, 2023, after market close. It will also host a live webcast on Wednesday, October 18, at 8:30 a.m. CDT to review its financial results, business outlook for the firm and other matters. The third quarter 2023 earnings release will be available on the investor relations page of Pinnacle's website at www.pnfp.com. To access the call for audio only, please call 1-877-209-7255. For the presentation and streaming audio, please access the webcast on the investor relations page of Pinnacle's website at www.pnfp.com. For those unable to participate in
Citigroup analyst Ben Gerlinger maintains Pinnacle Finl Partners (NASDAQ:PNFP) with a Buy and raises the price target from $93 to $113.
This whale alert can help traders discover the next big trading opportunities. Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner. Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. Here's the list of options activity happening in today's session: Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume BAC CALL SWEEP BEARISH 07/19/24 $42.00 $49.2K 23.3K 2.0K COIN CALL TRADE BEARISH 08/16/24 $250.00 $36
Wells Fargo analyst Steven Shaw maintains Pinnacle Finl Partners (NASDAQ:PNFP) with a Overweight and raises the price target from $90 to $100.
Barclays analyst Jared Shaw maintains Pinnacle Finl Partners (NASDAQ:PNFP) with a Equal-Weight and raises the price target from $93 to $97.
Truist Securities analyst Brandon King maintains Pinnacle Finl Partners (NASDAQ:PNFP) with a Buy and raises the price target from $87 to $101.
8 analysts have expressed a variety of opinions on Pinnacle Finl Partners (NASDAQ:PNFP) over the past quarter, offering a diverse set of opinions from bullish to bearish. Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 2 5 1 0 0 Last 30D 0 0 1 0 0 1M Ago 1 1 0 0 0 2M Ago 0 1 0 0 0 3M Ago 1 3 0 0 0 Analysts have set 12-month price targets for Pinnacle Finl Partners, revealing an average target of $101.5, a high estimate of $109.00, and a low estimate of $87.00. This current average represents a
Piper Sandler analyst Kevin Barker downgrades Pinnacle Finl Partners (NASDAQ:PNFP) from Overweight to Neutral and raises the price target from $95 to $98.
Pinnacle Finl Partners (NASDAQ:PNFP) reported quarterly earnings of $1.63 per share which beat the analyst consensus estimate of $1.61 by 1.24 percent. This is a 8.94 percent decrease over earnings of $1.79 per share from the same period last year. The company reported quarterly sales of $366.550 million which missed the analyst consensus estimate of $435.089 million by 15.75 percent. This is a 25.08 percent decrease over sales of $489.232 million the same period last year.
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