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Pinnacle Financial (PNFP) Reports Q2 Earnings: What Key Metrics Have to Say
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For the quarter ended June 2024, Pinnacle Financial (PNFP - Free Report) reported revenue of $366.55 million, down 25.1% over the same period last year. EPS came in at $1.63, compared to $1.79 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $426.4 million, representing a surprise of -14.04%. The company delivered an EPS surprise of +1.87%, with the consensus EPS estimate being $1.60.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Pinnacle Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Interest Margin: 3.1% versus 3.1% estimated by six analysts on average.
Efficiency Ratio: 74% versus 54.6% estimated by six analysts on average.
Average balances - Total interest-earning assets: $44.11 billion versus $44.29 billion estimated by five analysts on average.
Annualized net loan charge-offs to avg. loans: 0.3% versus 0.2% estimated by four analysts on average.
Nonaccrual loans: $97.65 million versus the three-analyst average estimate of $113.98 million.
Total nonperforming assets: $100.41 million compared to the $117.19 million average estimate based on three analysts.
Net Interest Income: $332.26 million versus $327.15 million estimated by six analysts on average.
Total noninterest income: $34.29 million versus $101.27 million estimated by six analysts on average.
Gains on mortgage loans sold, net: $3.27 million versus $2.67 million estimated by four analysts on average.
Insurance sales commissions: $3.72 million versus $3.29 million estimated by three analysts on average.
Service charges on deposit accounts: $14.56 million versus $13.28 million estimated by three analysts on average.
Trust fees: $8.32 million versus $7.33 million estimated by three analysts on average.
Shares of Pinnacle Financial have returned +16.3% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Pinnacle Financial (PNFP) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2024, Pinnacle Financial (PNFP - Free Report) reported revenue of $366.55 million, down 25.1% over the same period last year. EPS came in at $1.63, compared to $1.79 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $426.4 million, representing a surprise of -14.04%. The company delivered an EPS surprise of +1.87%, with the consensus EPS estimate being $1.60.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Pinnacle Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest Margin: 3.1% versus 3.1% estimated by six analysts on average.
- Efficiency Ratio: 74% versus 54.6% estimated by six analysts on average.
- Average balances - Total interest-earning assets: $44.11 billion versus $44.29 billion estimated by five analysts on average.
- Annualized net loan charge-offs to avg. loans: 0.3% versus 0.2% estimated by four analysts on average.
- Nonaccrual loans: $97.65 million versus the three-analyst average estimate of $113.98 million.
- Total nonperforming assets: $100.41 million compared to the $117.19 million average estimate based on three analysts.
- Net Interest Income: $332.26 million versus $327.15 million estimated by six analysts on average.
- Total noninterest income: $34.29 million versus $101.27 million estimated by six analysts on average.
- Gains on mortgage loans sold, net: $3.27 million versus $2.67 million estimated by four analysts on average.
- Insurance sales commissions: $3.72 million versus $3.29 million estimated by three analysts on average.
- Service charges on deposit accounts: $14.56 million versus $13.28 million estimated by three analysts on average.
- Trust fees: $8.32 million versus $7.33 million estimated by three analysts on average.
View all Key Company Metrics for Pinnacle Financial here>>>Shares of Pinnacle Financial have returned +16.3% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.