Pinnacle Financial Partners (PNFP) reported quarterly earnings results on Tuesday, Jul-19-2016. The company said it had a profit of $0.75 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.74. The company posted revenue of $107.80 million in the period, compared to analysts expectations of $103.55 million. The company’s revenue was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS.
Many Wall Street Analysts have commented on Pinnacle Financial Partners. Company shares were Upgraded by Piper Jaffray on Jul 12, 2016 to ” Overweight”, Firm has raised the Price Target to $ 60 from a previous price target of $51 .
Pinnacle Financial Partners closed down -0.43 points or -0.79% at $53.67 with 1,86,881 shares getting traded on Monday. Post opening the session at $53.9, the shares hit an intraday low of $53.39 and an intraday high of $54.04 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Jun 8, 2016, William H Iv Huddleston (director) sold 2,000 shares at $50.21 per share price. According to the SEC, on Mar 14, 2016, Harold R Carpenter (EVP & CFO) sold 6,526 shares at $46.54 per share price. On Mar 8, 2016, M Terry Turner (CEO) sold 17,440 shares at $47.94 per share price, according to the Form-4 filing with the securities and exchange commission.
Pinnacle Financial Partners Inc. (Pinnacle) is a bank holding company. Pinnacle operates through its wholly owned subsidiary Pinnacle Bank. The Company operates as a community bank primarily in the urban markets of Nashville and Knoxville Tennessee. As an urban community bank Pinnacle provides the personalized service associated with small community banks while seeking to offer the products and services such as investments and treasury management offered by large regional and national banks. Pinnacle Bank offers an array of convenience-centered products and services including 24-hour telephone and internet banking mobile banking debit and credit cards direct deposit remote deposit and cash management services for small- to medium-sized businesses. In addition Pinnacle Bank is associated with a network of automated teller machines of other financial institutions that its clients are able to use throughout Tennessee and other regions across the nation.