Tue, Sep. 13, 9:50 AM
- Sandler O'Neill takes some chips off the table, downgrading Pinnacle Financial Partners (PNFP -2.6%) to Hold from Buy after a big summer run for the stock.
Fri, Sep. 9, 12:02 PM
- A strong run for the stock since late June has the price bumping up against Hilliard Lyons' price target of $57. Given the choice of heading to the sidelines or sticking with a Buy rating, analyst Andrew Stapp reiterates a Buy and lifts the price target to $64.
- That target represents a "conservative" multiple of 19x forward earnings and 290% of tangible book value.
- "We believe Pinnacle's (PNFP -0.2%) NIM is less vulnerable to the flattening of the yield curve compared to peers given that its securities portfolio is undersized at 13.7% of assets."
Tue, Jul. 19, 5:34 PM
Mon, Jul. 18, 5:35 PM
Tue, Jul. 12, 9:58 AM| Tue, Jul. 12, 9:58 AM
Mon, Apr. 18, 10:55 PM
Sun, Apr. 17, 5:35 PM
Fri, Mar. 4, 5:32 PM
- Pinnacle Financial Partners (PNFP -0.9%) has wrapped a purchase of another 19% interest in Bankers Healthcare Group, for $114M in cash and stock.
- The deal brings Pinnacle's stake in BHG to 49%. Along with its Pinnacle Bank subsidiary, it's funding the deal with 860,470 shares of PNFP common stock and $74.1M in cash.
- The cash portion came from short-term borrowings that Pinnacle intends to repay by offering subordinated debt; yesterday Pinnacle Bank agreed to issue $70M of 4.875% subordinated notes at a discount.
- The company says the new investment will be about 2% accretive to EPS this year and 4% accretive in 2017.
- PNFP is flat in after-hours trading.
Fri, Jan. 29, 12:54 PM
- In a merger of Nashville lenders, Pinnacle Financial Partners (PNFP -4%) is buying Avenue Financial (AVNU +39.7%) for roughly $200M in stock and cash.
- Avenue owners will receive 0.36 shares of PNFP and $2 in cash for each share of AVNU they hold, and will own about 8.1% of the combined company.
- Assuming the deal closes late in Q3, expect a modestly accretive 2016 impact to Pinnacle's EPS and a 4.2% addition to 2017 earnings. Tangible book value will be diluted by 1%. Once the technology conversion takes place, about 40% of Avenue's expense base will be eliminated.
Tue, Jan. 19, 5:36 PM
- Pinnacle Financial Partners (NASDAQ:PNFP): Q4 EPS of $0.69 beats by $0.01.
- Revenue of $98M (+51.5% Y/Y) beats by $3.65M.
Oct. 20, 2015, 5:36 PM
- Pinnacle Financial Partners (NASDAQ:PNFP): Q3 EPS of $0.66 beats by $0.02.
- Revenue of $83.5M (+33.8% Y/Y) beats by $6.02M.
Jul. 27, 2015, 12:16 PM
- FIG Partners rings the register on its Outperform call on Pinnacle FInancial Partners (PNFP -1.4%), downgrading to Market Perform.
- The stock of the Tennessee lender is up more than 30% YTD.
- Previously: Pinnacle Financial Partners beats by $0.02, misses on revenue (July 21)
Jul. 21, 2015, 5:45 PM
- Pinnacle Financial Partners (NASDAQ:PNFP): Q2 EPS of $0.64 beats by $0.02.
- Revenue of $71.85M (+20.1% Y/Y) misses by $0.57M.
Jul. 2, 2015, 9:48 AM
- Raymond James downgrades Zions Bancorp (ZION -0.5%), Regions Financial (RF -0.3%), Bank of the Ozarks (OZRK -0.9%), and Everbank (EVER -1.3%) from Strong Buy to Outperform. As a group, the four have strongly outperformed the regional bank index over the last three months.
- Downgraded to Market Perform from Outperform: Columbia Banking System (COLB -2%), Pinnacle Financial (PNFP -1.9%), and Wilshire Bancorp (WIBC -3.1%).
Apr. 20, 2015, 6:10 PM
- Pinnacle Financial Partners (NASDAQ:PNFP): Q1 EPS of $0.62 beats by $0.06.
- Revenue of $69.76M (+19.0% Y/Y) beats by $2.55M.
Apr. 1, 2015, 9:47 AM