Analysts on Wall Street project that Pinnacle Financial (PNFP) will announce quarterly earnings of $1.92 per share in its forthcoming report, representing an increase of 17.8% year over year. Revenues are projected to reach $492.81 million, increasing 34.4% from the same quarter last year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.1% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Bearing this in mind, let's now explore the average estimates of specific Pinnacle Financial metrics that are commonly monitored and projected by Wall Street analysts.
Based on the collective assessment of analysts, 'Net Interest Margin' should arrive at 3.2%. The estimate is in contrast to the year-ago figure of 3.1%.
The combined assessment of analysts suggests that 'Efficiency Ratio' will likely reach 55.4%. The estimate is in contrast to the year-ago figure of 74.0%.
Analysts expect 'Average balances - Total interest-earning assets' to come in at $48.70 billion. The estimate compares to the year-ago value of $44.11 billion.
The consensus among analysts is that 'Nonaccrual loans' will reach $180.33 million. Compared to the current estimate, the company reported $97.65 million in the same quarter of the previous year.
The average prediction of analysts places 'Total nonperforming assets' at $184.79 million. Compared to the present estimate, the company reported $100.41 million in the same quarter last year.
Analysts' assessment points toward 'Total noninterest income' reaching $116.70 million. The estimate compares to the year-ago value of $34.29 million.
Analysts predict that the 'Net Interest Income' will reach $376.81 million. Compared to the current estimate, the company reported $332.26 million in the same quarter of the previous year.
The consensus estimate for 'Gains on mortgage loans sold, net' stands at $3.00 million. The estimate compares to the year-ago value of $3.27 million.
It is projected by analysts that the 'Service charges on deposit accounts' will reach $17.50 million. The estimate is in contrast to the year-ago figure of $14.56 million.
Analysts forecast 'Insurance sales commissions' to reach $4.41 million. The estimate is in contrast to the year-ago figure of $3.72 million.
The collective assessment of analysts points to an estimated 'Trust fees' of $9.40 million. Compared to the current estimate, the company reported $8.32 million in the same quarter of the previous year.
According to the collective judgment of analysts, 'Income from equity method investment' should come in at $21.47 million. Compared to the present estimate, the company reported $18.69 million in the same quarter last year.
View all Key Company Metrics for Pinnacle Financial here>>>
Pinnacle Financial shares have witnessed a change of +11.5% in the past month, in contrast to the Zacks S&P 500 composite's +4.4% move. With a Zacks Rank #4 (Sell), PNFP is expected underperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Pinnacle Financial Partners, Inc. (PNFP): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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