Street Reports

Analyst Activity: Pinnacle Financial Partners Inc. (PNFP)

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The shares of Pinnacle Financial Partners Inc. (NASDAQ:PNFP) currently has mean rating of 2.22 while 2 analysts have recommended the shares as “BUY”, 3 recommended as “OUTPERFORM” and 4 recommended as “HOLD”. The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for sell.

The company’s mean estimate for sales for the current quarter ending Jun 16 is 104.18M by 6 analysts. The means estimate of sales for the year ending Dec-16 is 444.36M by 6 analysts.

The mean price target for the shares of Pinnacle Financial Partners Inc. (PNFP) is at 55.50 while the highest price target suggested by the analysts is 59.00 and low price target is 51.00. The mean price target is calculated keeping in view the consensus of 8 brokerage firms.

The average estimate of EPS for the current fiscal quarter for Pinnacle Financial Partners Inc. (PNFP) stands at 0.75 while the EPS for the current year is fixed at 3.05 by 6 analysts.

The next one year’s EPS estimate is set at 3.54 by 8 analysts while a year ago the analysts suggested the company’s EPS at 3.05. The analysts also projected the company’s long-term growth at 15.00% for the upcoming five years.

In its latest quarter ended on 31st March 2016, Pinnacle Financial Partners Inc. (PNFP) reported earnings of $0.68. The posted earnings missed the analyst’s consensus by $-0.03 with the surprise factor of -4.20%. In the matter of earnings surprises, the term “Cockroach Effect” is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.

On June 21, 2016 Avenue Financial Holdings, Inc. (AVNU) announced that its shareholders approved the proposed merger with Pinnacle Financial Partners Inc. (PNFP) at its special shareholders’ meeting held. Subject to the satisfaction of the remaining closing conditions contained in the merger agreement between Avenue Financial and Pinnacle, the merger is expected to close on or about July 1, 2016.

In comments made at the meeting, Ronald L. Samuels, Chairman and Chief Executive Officer, stated, “Avenue Financial’s shareholders overwhelmingly approved the merger with Pinnacle Financial Partners. We are very excited about our proposed merger with Pinnacle and realizing our goals of building shareholder value while providing our clients with a broader array of banking services than we could have as an independent company.

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