PNFP

Pinnacle Financial PartnersNasdaqGS:PNFP Stock Report

Market Cap

US$6.8b

7D

-4.9%

1Y

141.0%

Updated

18 Sep, 2021

Data

Company Financials +
PNFP fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance5/6
Financial Health6/6
Dividends2/6

PNFP Overview

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.

Pinnacle Financial Partners Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Pinnacle Financial Partners
Historical stock prices
Current Share PriceUS$90.32
52 Week HighUS$32.80
52 Week LowUS$98.63
Beta1.38
1 Month Change-1.35%
3 Month Change7.21%
1 Year Change140.98%
3 Year Change41.02%
5 Year Change63.42%
Change since IPO1,801.47%

Recent News & Updates

Jul 27

Pinnacle Financial Partners Still Early In An Impressive Growth Story

Pinnacle delivered a respectable pre-provision beat in the second quarter, with better core loan growth than most other banks are achieving in the Southeast U.S. right now. Management has expressed an increased willingness to consider whole bank M&A, but the company's strategy for organic growth (entering new markets with competitive hire-aways) is still core. A long-term core earnings growth rate can still support an attractive double-digit long-term annualized return (above historical norms for banks), making this a name to consider.

Shareholder Returns

PNFPUS BanksUS Market
7D-4.9%0.9%-0.6%
1Y141.0%63.3%33.8%

Return vs Industry: PNFP exceeded the US Banks industry which returned 63.3% over the past year.

Return vs Market: PNFP exceeded the US Market which returned 33.8% over the past year.

Price Volatility

Is PNFP's price volatile compared to industry and market?
PNFP volatility
PNFP Beta1.38
Industry Beta1.37
Market Beta1

Stable Share Price: PNFP is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: PNFP's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
20002,706Michael Turnerhttps://www.pnfp.com

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.

Pinnacle Financial Partners Fundamentals Summary

How do Pinnacle Financial Partners's earnings and revenue compare to its market cap?
PNFP fundamental statistics
Market CapUS$6.84b
Earnings (TTM)US$463.55m
Revenue (TTM)US$1.22b

14.7x

P/E Ratio

1.4x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PNFP income statement (TTM)
RevenueUS$1.22b
Cost of RevenueUS$0
Gross ProfitUS$1.22b
ExpensesUS$751.97m
EarningsUS$463.55m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

Oct 12, 2021

Earnings per share (EPS)6.15
Gross Margin100.00%
Net Profit Margin38.14%
Debt/Equity Ratio36.4%

How did PNFP perform over the long term?

See historical performance and comparison

Dividends

0.8%

Current Dividend Yield

11%

Payout Ratio

Valuation

Is Pinnacle Financial Partners undervalued compared to its fair value and its price relative to the market?

24.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: PNFP ($90.32) is trading below our estimate of fair value ($120.22)

Significantly Below Fair Value: PNFP is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: PNFP is poor value based on its PE Ratio (14.7x) compared to the US Banks industry average (10.8x).

PE vs Market: PNFP is good value based on its PE Ratio (14.7x) compared to the US market (17.8x).


Price to Earnings Growth Ratio

PEG Ratio: PNFP is poor value based on its PEG Ratio (7.7x)


Price to Book Ratio

PB vs Industry: PNFP is overvalued based on its PB Ratio (1.4x) compared to the US Banks industry average (1.1x).


Future Growth

How is Pinnacle Financial Partners forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

1.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PNFP's forecast earnings growth (1.9% per year) is below the savings rate (2%).

Earnings vs Market: PNFP's earnings (1.9% per year) are forecast to grow slower than the US market (14.9% per year).

High Growth Earnings: PNFP's earnings are forecast to grow, but not significantly.

Revenue vs Market: PNFP's revenue (6.1% per year) is forecast to grow slower than the US market (9.8% per year).

High Growth Revenue: PNFP's revenue (6.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PNFP's Return on Equity is forecast to be low in 3 years time (8.8%).


Past Performance

How has Pinnacle Financial Partners performed over the past 5 years?

22.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PNFP has high quality earnings.

Growing Profit Margin: PNFP's current net profit margins (38.1%) are higher than last year (33.5%).


Past Earnings Growth Analysis

Earnings Trend: PNFP's earnings have grown significantly by 22.6% per year over the past 5 years.

Accelerating Growth: PNFP's earnings growth over the past year (55.9%) exceeds its 5-year average (22.6% per year).

Earnings vs Industry: PNFP earnings growth over the past year (55.9%) exceeded the Banks industry 36%.


Return on Equity

High ROE: PNFP's Return on Equity (9.4%) is considered low.


Financial Health

How is Pinnacle Financial Partners's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: PNFP's Assets to Equity ratio (6.9x) is low.

Allowance for Bad Loans: PNFP has a sufficient allowance for bad loans (516%).

Low Risk Liabilities: 93% of PNFP's liabilities are made up of primarily low risk sources of funding.

Loan Level: PNFP has an appropriate level of Loans to Assets ratio (64%).

Low Risk Deposits: PNFP's Loans to Deposits ratio (80%) is appropriate.

Level of Bad Loans: PNFP has an appropriate level of bad loans (0.2%).


Dividend

What is Pinnacle Financial Partners's current dividend yield, its reliability and sustainability?

0.80%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: PNFP's dividend (0.8%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.33%).

High Dividend: PNFP's dividend (0.8%) is low compared to the top 25% of dividend payers in the US market (3.6%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, PNFP has been paying a dividend for less than 10 years.

Growing Dividend: PNFP's dividend payments have increased, but the company has only paid a dividend for 8 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (11.1%), PNFP's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: PNFP's dividends in 3 years are forecast to be thoroughly covered by earnings (12.5% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

21.6yrs

Average management tenure


CEO

Michael Turner (66 yo)

21.58yrs

Tenure

US$4,386,838

Compensation

Mr. Michael Terry Turner has been the Chief Executive Officer and President of Pinnacle Financial Partners, Inc. & Pinnacle Bank since 2000. Mr. Turner worked for Arthur Andersen & Company as a Consultant...


CEO Compensation Analysis

Compensation vs Market: Michael's total compensation ($USD4.39M) is below average for companies of similar size in the US market ($USD6.44M).

Compensation vs Earnings: Michael's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: PNFP's management team is seasoned and experienced (21.6 years average tenure).


Board Members

Experienced Board: PNFP's board of directors are considered experienced (6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: PNFP insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Pinnacle Financial Partners, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Pinnacle Financial Partners, Inc.
  • Ticker: PNFP
  • Exchange: NasdaqGS
  • Founded: 2000
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$6.836b
  • Shares outstanding: 75.69m
  • Website: https://www.pnfp.com

Number of Employees


Location

  • Pinnacle Financial Partners, Inc.
  • 150 Third Avenue South
  • Suite 900
  • Nashville
  • Tennessee
  • 37201
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/18 22:03
End of Day Share Price2021/09/17 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.