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Pinnacle Financial Partners
(NYSE:PNFP)
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Rating:78Outperform
Price Target:
$121.00
â–²(17.93% Upside)
Action:Reiterated
Date:08/07/26
PNFP’s score is driven primarily by solid financial performance (strong TTM revenue growth and healthy cash conversion) and constructive technicals (uptrend with supportive momentum). The latest earnings call adds confidence via reiterated guidance, strong growth trends, and stable credit, partly offset by near-term margin pressure and merger/integration costs. Valuation is reasonable on earnings, though the dividend yield is modest.
Positive Factors
Loan and earning-asset growth
Sustained, large quarterly loan and earning-asset growth expands core interest-earning volume and supports durable net interest income expansion. Consistent origination at scale also enables cross-sell opportunities across treasury and wealth products, underpinning multi-quarter revenue momentum if funded and underwritten prudently.
Negative Factors
Net interest margin compression
Compression in NIM erodes the primary earnings driver for a commercial bank. Causes cited (lower SOFR, slower prepayments, interim higher-cost funding) can persist through funding rebalancing, meaning sustained pressure on core profitability and ROE unless asset yields or funding mix improve over several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Loan and earning-asset growth
Sustained, large quarterly loan and earning-asset growth expands core interest-earning volume and supports durable net interest income expansion. Consistent origination at scale also enables cross-sell opportunities across treasury and wealth products, underpinning multi-quarter revenue momentum if funded and underwritten prudently.
Read all positive factors
Pinnacle Financial Partners (PNFP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$16.22B
Dividend Yield1.66%
Average Volume (3M)1.34M
Price to Earnings (P/E)12.9
Beta (1Y)1.25
Revenue Growth66.97%
EPS Growth-3.45%
CountryUS
Employees8,433
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)8.18
Shares Outstanding151,112,640
10 Day Avg. Volume1,423,727
30 Day Avg. Volume1,336,966
Financial Highlights & Ratios
PEG Ratio0.33
Price to Book (P/B)1.04
Price to Sales (P/S)2.51
P/FCF Ratio11.03
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$120.21Price Target Upside17.17% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering15
EPS Forecast (FY)10.19
Revenue Forecast (FY)$5.03B
Pinnacle Financial Partners Business Overview & Revenue Model
Company Description
Pinnacle Financial Partners, Inc. functions as a bank holding company, overseeing Pinnacle Bank, which delivers a comprehensive range of banking solutions and services across the United States. The company facilitates various types of deposit acco...
How the Company Makes Money
Pinnacle Financial Partners primarily makes money through a banking model centered on (1) net interest income and (2) noninterest income.
1) Net interest income (core earnings driver for most commercial banks)
- Interest income on loans: The comp...
Pinnacle Financial Partners Earnings Call Summary
Earnings Call Date:Jul 22, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 20, 2026
Earnings Call Sentiment Positive
The call emphasized multiple clear operating strengths — strong loan and deposit growth, double-digit year-to-date adjusted EPS growth, solid fee income momentum across core businesses, disciplined credit with improving NPAs, active talent recruiting and tangible progress on synergies — while acknowledging near-term margin pressure from market rates, liquidity repositioning and merger-related expenses. Management maintained full-year guidance, outlined specific drivers for H2 performance, and reiterated confidence in sustainable NII and earnings power as the merger integrates. The positive operating and capital proof points materially outweigh the manageable near-term headwinds highlighted.Positive Updates
Strong EPS and Earnings Accretion
Reported diluted EPS of $2.07 and adjusted diluted EPS of $2.50; adjusted EPS up 26% year-to-date versus prior year. Adjusted diluted EPS increased 5% versus the prior quarter and 25% versus Q2 2025. Management cites ~19% EPS accretion relative to stand-alone consensus year-to-date from the combination.
Negative Updates
Net Interest Margin Compression
NIM compressed 9 basis points quarter-over-quarter to 3.44% (≈6 bps excluding Q1 nonrecurring items). Management cited headwinds from lower SOFR, lighter PAA (slower prepayments), and temporary higher-cost funding driven by fast balance-sheet growth and seasonality.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong EPS and Earnings Accretion
Reported diluted EPS of $2.07 and adjusted diluted EPS of $2.50; adjusted EPS up 26% year-to-date versus prior year. Adjusted diluted EPS increased 5% versus the prior quarter and 25% versus Q2 2025. Management cites ~19% EPS accretion relative to stand-alone consensus year-to-date from the combination.
Read all positive updates
Company Guidance
Pinnacle reiterated its 2026 guidance while providing more detail: loans are tracking at the high end of the 9%–11% growth range (Q2 linked‑quarter loans +$2.9B, ~14% annualized; combined YTD period‑end loans +6% / 12% annualized ex‑purchase accounting), deposits are tracking in the middle of the 8%–10% range (Q2 +$795M; core deposits ex‑public funds +$963M / +1% Q/Q; full‑year target 8%–10%), and earning assets rose 4% Q/Q (15% annualized). Financial guidance includes full‑year NIM of 3.44%–3.47% (Q2 NII $956M, +2% Q/Q), revenue trending to $5.05B–$5.10B, adjusted expenses expected near the midpoint of $2.675B–$2.775B, an adjusted effective tax rate around 20%–21%, and continued credit guidance of 20–25 bps charge‑offs (Q2 NCOs $48M / 22 bps) with NPAs at 0.5% and ACL at 1.17%. Capital and profitability targets: preliminary CET1 9.93% (+12 bps Q/Q) toward a ~10.25% target, adjusted ROTCE YTD 17.7% (18% long‑run target), adjusted tangible efficiency ~49.8%, and management expects high‑single‑digit NII growth and double‑digit PPNR/EPS growth while executing on $750M senior debt issuance, $1B municipal repositioning and continued hiring (74 producers this quarter, 124 YTD, retention ~94%).Pinnacle Financial Partners Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
70
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.90B | 2.92B | 2.85B | 2.47B | 1.55B | 1.22B |
| Gross Profit | 3.31B | 1.93B | 1.40B | 1.29B | 1.24B | 1.10B |
| EBITDA | 929.96M | 837.81M | 679.79M | 792.70M | 759.79M | 705.16M |
| Net Income | 821.15M | 642.10M | 475.06M | 562.15M | 560.74M | 527.32M |
Balance Sheet | ||||||
| Total Assets | 129.06B | 57.71B | 52.59B | 47.96B | 41.97B | 38.47B |
| Cash, Cash Equivalents and Short-Term Investments | 25.80B | 12.82B | 8.92B | 6.46B | 4.70B | 8.93B |
| Total Debt | 11.10B | 2.52B | 2.53B | 2.77B | 1.08B | 1.46B |
| Total Liabilities | 114.23B | 50.66B | 46.16B | 41.92B | 36.45B | 33.16B |
| Stockholders Equity | 14.83B | 7.04B | 6.43B | 6.04B | 5.52B | 5.31B |
Cash Flow | ||||||
| Free Cash Flow | 1.51B | 665.18M | 807.29M | 400.15M | 540.58M | 634.27M |
| Operating Cash Flow | 1.53B | 759.01M | 904.31M | 478.40M | 604.92M | 657.44M |
| Investing Cash Flow | -7.28B | -5.03B | -3.67B | -4.60B | -6.68B | -3.61B |
| Financing Cash Flow | 10.41B | 4.40B | 3.97B | 5.18B | 3.16B | 3.10B |
Pinnacle Financial Partners Technical Analysis
Positive
102.60
Price Trends
100.71
Positive
97.37
Positive
94.79
Positive
Market Momentum
1.73
Positive
51.85
Neutral
48.52
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PNFP, the sentiment is Positive. The current price of 102.6 is below the 20-day moving average (MA) of 104.81, above the 50-day MA of 100.71, and above the 200-day MA of 94.79, indicating a neutral trend. The MACD of 1.73 indicates Positive momentum. The RSI at 51.85 is Neutral, neither overbought nor oversold. The STOCH value of 48.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PNFP.
Pinnacle Financial Partners Risk Analysis
Pinnacle Financial Partners disclosed 44 risk factors in its most recent earnings report. Pinnacle Financial Partners reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Pinnacle Financial Partners Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $16.22B | 12.88 | 7.58% | 1.44% | 66.97% | -3.45% | |
76 Outperform | $8.85B | 13.61 | 10.84% | 1.73% | 1.68% | 27.08% | |
75 Outperform | $8.56B | 14.53 | 14.39% | 1.84% | 7.00% | 3.28% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $10.45B | 15.84 | 15.04% | 2.45% | 1.94% | 13.72% |
* Financial Sector Average
PNFP
Pinnacle Financial Partners
104.53
13.30
14.57%
BOKF
Bok Financial
145.02
41.00
39.42%
CBSH
Commerce Bancshares
59.56
1.72
2.97%
CFR
Cullen/Frost Bankers
167.33
44.59
36.33%
Pinnacle Financial Partners Corporate Events
Business Operations and StrategyExecutive/Board Changes
Pinnacle Financial Extends McCabe’s Leadership and Governance Tenure
Positive
Jul 31, 2026
On July 29, 2026, Pinnacle Financial Partners amended a prior letter agreement to extend Robert A. McCabe Jr.’s tenure as Chief Banking Officer and Vice Chair of the Board from Dec. 31, 2026, to Dec. 31, 2027. The amendment also set his comp...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Pinnacle Financial Posts Strong Q2 Results Post-Merger
Positive
Jul 22, 2026
On July 22, 2026, Pinnacle Financial Partners reported second-quarter 2026 net income available to common shareholders of $313 million, or $2.07 per diluted share, with adjusted net income of $379 million, or $2.50 per diluted share, reflecting th...
Business Operations and StrategyFinancial DisclosuresM&A TransactionsPrivate Placements and Financing
Pinnacle Updates Strategy and Outlook Post Synovus Merger
Positive
Jun 8, 2026
Pinnacle Financial Partners plans to participate in a fireside chat at the Morgan Stanley US Financials Conference on June 9, 2026, where it will discuss its strategy following the January 1, 2026 closing of its merger with Synovus. Management mat...
Business Operations and StrategyShareholder Meetings
Pinnacle Financial Shareholders Back Board, Pay and Incentive Plan
Positive
May 22, 2026
At its 2026 Annual Meeting of Shareholders held on May 21, 2026, Pinnacle Financial Partners shareholders elected 15 director nominees by majority vote, with each receiving strong support despite some opposition and abstentions, and 17,015,646 bro...
Business Operations and StrategyPrivate Placements and Financing
Pinnacle Financial Issues $750 Million Senior Notes
Positive
May 19, 2026
On May 19, 2026, Pinnacle Financial Partners, Inc. completed a public offering of $750 million in 5.596% Fixed Rate / Floating Rate Senior Notes due 2032, issued under its existing senior indenture structure with The Bank of New York Mellon Trust ...
Private Placements and Financing
Pinnacle Financial Raises $750 Million Through Senior Notes
Positive
May 14, 2026
On May 12, 2026, Pinnacle Financial Partners, Inc. entered into an underwriting agreement with Morgan Stanley Co. LLC, RBC Capital Markets, LLC and Goldman Sachs Co. LLC to sell $750 million of 5.596% fixed rate / floating rate senior notes due ...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Pinnacle Financial Partners Completes Merger and Issues Projections
Neutral
May 12, 2026
On January 1, 2026, Synovus Financial Corp. and Legacy Pinnacle Financial Partners completed a simultaneous merger into a jointly owned Georgia corporation, which was then renamed Pinnacle Financial Partners, Inc., making it the new parent holding...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.