Pinnacle Financial Partners Inc reports results for the quarter ended in March - Earnings Summary

Pinnacle Financial Partners

23/04/2024 24:08

* Pinnacle Financial Partners Inc  PNFP.OQ  reported
quarterly
adjusted earnings of $1.54​​ per share for the quarter ended in
March, lower than the same quarter last year, when the company
reported EPS of $1.76.  The mean expectation of
thirteen analysts for the quarter was for earnings of $1.54 per
share. Wall Street expected results to range from $1.42 
to $1.65 per share.
    * Revenue rose 6.6% to $428.14 million from a year ago;
analysts
expected $422.49 million. 
    * Pinnacle Financial Partners Inc's reported EPS for the
quarter
was $1.57​.
    * The company reported quarterly net income of $120.15
million.
    * Pinnacle Financial Partners Inc shares had fallen by 7.4%
this
quarter and lost 8.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 1.4%
in the last three months.​ 
    * In the last 30 days, three analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 9 "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "buy"

Wall Street's median 12-month price target for Pinnacle
Financial Partners Inc is $98.00 
This summary was machine generated from LSEG data April 22 at
11:08 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      1.54           1.54           Met
 Dec. 31 2023      1.60           1.68           Beat
 Sep. 30 2023      1.71           1.69           Missed
 Jun. 30 2023      1.63           1.79           Beat