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Pinnacle Financial (PNFP) Moves 10.4% Higher: Will This Strength Last?
Pinnacle Financial (PNFP - Free Report) shares ended the last trading session 10.4% higher at $96.34. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 12.4% loss over the past four weeks.
Pinnacle Financial stock soared, driven by a massive jump in the broad markets. The jump was fueled by President Donald Trump’s announcement of a 90-day tariff pause for the non-retaliating nations. This cheered the investors, driving the PNFP stock higher.
This regional bank operator is expected to post quarterly earnings of $1.82 per share in its upcoming report, which represents a year-over-year change of +19%. Revenues are expected to be $478.5 million, up 11.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Pinnacle Financial, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on PNFP going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Pinnacle Financial belongs to the Zacks Banks - Southeast industry. Another stock from the same industry, WesBanco (WSBC - Free Report) , closed the last trading session 5.1% higher at $28.79. Over the past month, WSBC has returned -10.3%.
WesBanco's consensus EPS estimate for the upcoming report has changed -0.4% over the past month to $0.39. Compared to the company's year-ago EPS, this represents a change of -30.4%. WesBanco currently boasts a Zacks Rank of #3 (Hold).