What To Expect From Pinnacle Financial Partners's (PNFP) Q3 Earnings

Regional banking company Pinnacle Financial Partners (NASDAQ:PNFP) will be announcing earnings results this Wednesday after market hours. Here’s what to look for.

Pinnacle Financial Partners beat analysts’ revenue expectations by 2% last quarter, reporting revenues of $505 million, up 37.8% year on year. It was a mixed quarter for the company, with a decent beat of analysts’ revenue estimates but a slight miss of analysts’ net interest income estimates.

Is Pinnacle Financial Partners a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting Pinnacle Financial Partners’s revenue to grow 11.4% year on year to $519.9 million, slowing from the 14.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.04 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Pinnacle Financial Partners has missed Wall Street’s revenue estimates four times over the last two years.

With Pinnacle Financial Partners being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for banks stocks. However, the whole sector has been hit hard over the last month as stocks in Pinnacle Financial Partners’s peer group are down 4.3% on average. Pinnacle Financial Partners is down 7.2% during the same time and is heading into earnings with an average analyst price target of $111.46 (compared to the current share price of $88.47).

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