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Pinnacle Financial Partners
(NYSE:PNFP)
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Rating:75Outperform
Price Target:
$110.00
â–²(9.16% Upside)
Action:Reiterated
Date:10/22/26
The score is driven primarily by solid financial performance (strong revenue growth, healthy profitability, and good cash conversion) and a very positive earnings call with maintained guidance, strong growth, efficiency gains, solid credit quality, and improving capital. Technical indicators are mixed with a negative MACD despite generally constructive RSI/Stoch readings, while valuation looks reasonable on a ~13x P/E with a modest dividend yield.
Positive Factors
Broad loan and deposit growth
Broad-based loan and deposit expansion shows the combined franchise is gaining client balances rather than relying on a narrow growth source. Continued balance-sheet growth can support recurring net interest income and deepen relationships, while management’s maintained guidance indicates momentum is expected to persist.
Negative Factors
Margin and funding pressure
Expected HQLA investment and greater use of wholesale funding can raise the cost of supporting the balance sheet faster than asset yields improve. Persistent margin pressure would constrain net interest income growth and could offset some benefits from expanding loans and deposits.
Read all positive and negative factors
Positive Factors
Negative Factors
Broad loan and deposit growth
Broad-based loan and deposit expansion shows the combined franchise is gaining client balances rather than relying on a narrow growth source. Continued balance-sheet growth can support recurring net interest income and deepen relationships, while management’s maintained guidance indicates momentum is expected to persist.
Read all positive factors
Pinnacle Financial Partners (PNFP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$15.16B
Dividend Yield1.73%
Average Volume (3M)1.18M
Price to Earnings (P/E)12.0
Beta (1Y)1.20
Revenue Growth99.54%
EPS Growth-4.92%
CountryUS
Employees8,433
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)8.18
Shares Outstanding151,112,640
10 Day Avg. Volume1,191,006
30 Day Avg. Volume1,180,439
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 Cap1.65
Enterprise Value/Revenue5.10
Enterprise Value/Gross Profit7.56
Enterprise Value/Ebitda20.51
Forecast
1Y Price Target
$122.15Price Target Upside21.22% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering13
EPS Forecast (FY)10.24
Revenue Forecast (FY)$5.05B
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 makes money primarily through its banking operations. The largest revenue driver for a commercial bank is typically net interest income: the bank earns interest and fees on loans and other interest-earning assets (such ...
Pinnacle Financial Partners Earnings Call Summary
Earnings Call Date:Oct 21, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Jan 19, 2027
Earnings Call Sentiment Positive
The call was strongly positive. Management reported accelerating earnings, broad-based loan and deposit growth, record BHG production, improving efficiency, strong credit quality, capital accretion, recruiting momentum, client retention, market-share gains, and integration progress. The main challenges were lower NIM, expected future HQLA and funding headwinds, ongoing merger expenses, conservative reserve assumptions, CRE softness, and modest pressure on non-interest-bearing deposits. The highlights significantly outweighed the lowlights.Positive Updates
Strong Earnings Growth
Third-quarter diluted EPS was $2.40 and adjusted diluted EPS was $2.69, excluding $56 million of pre-tax adjusted items. Adjusted diluted EPS increased 8% versus the prior quarter and 19% versus the third quarter of 2025, while year-to-date adjusted EPS was up 23%.
Negative Updates
Net Interest Margin Contracted
Third-quarter NIM was 3.4%, down four basis points from the second quarter. Loan yields increased only one basis point to 6.12%, while total deposit cost increased four basis points, interest-bearing deposit cost increased five basis points, and aggregate effective cost of funds increased five basis points.
Read all updates
Q3-2026 Updates
Positive
Negative
Strong Earnings Growth
Third-quarter diluted EPS was $2.40 and adjusted diluted EPS was $2.69, excluding $56 million of pre-tax adjusted items. Adjusted diluted EPS increased 8% versus the prior quarter and 19% versus the third quarter of 2025, while year-to-date adjusted EPS was up 23%.
Read all positive updates
Company Guidance
For 2026, guidance ranges remain unchanged: full-year loan growth is expected at the top end of the 9% to 11% range; deposit growth is tracking toward mid-range of 8% to 10%, or roughly $9 billion for the year; full-year NIM is expected in the 3.44% to 3.46% range, with the fourth quarter in the low to mid 3.40s% range and the margin expected to slightly expand in the fourth quarter; full-year adjusted revenue is expected just over the midpoint of the stated range; BHG income is expected at $150 million to $160 million, above the $110 million to $120 million range provided in July; adjusted non-interest expenses should land just above the middle of the $2.675 billion and $2.775 billion guidance; the adjusted effective tax rate is expected in the middle of the 20% to 21% range; charge-offs are expected within the 20-25 basis point range; merger expenses are tracking in line with the previous full year guidance of $400 million-$450 million; revenue producer hiring is expected to clear the top end of the original 225-250 target; and integration remains on schedule for operational and brand conversion in March 2027.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 | 1.22B | 894.29M | 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
100.77
Price Trends
97.75
Positive
99.03
Positive
96.05
Positive
Market Momentum
0.52
Negative
63.49
Neutral
88.34
Negative
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 100.77 is above the 20-day moving average (MA) of 95.51, above the 50-day MA of 97.75, and above the 200-day MA of 96.05, indicating a bullish trend. The MACD of 0.52 indicates Negative momentum. The RSI at 63.49 is Neutral, neither overbought nor oversold. The STOCH value of 88.34 is Negative, 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | $5.50B | 8.44 | 10.93% | 3.77% | -0.40% | -1.91% | |
75 Outperform | $15.16B | 11.96 | 8.04% | 1.73% | 99.54% | -4.92% | |
73 Outperform | $4.49B | 13.09 | 17.61% | 1.85% | 4.88% | 34.03% | |
69 Neutral | $10.20B | 11.15 | 10.23% | 2.33% | 17.60% | 28.90% | |
68 Neutral | $2.65B | 11.85 | 11.98% | 1.53% | 26.41% | 110.85% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | $11.10B | 16.62 | 7.91% | 2.82% | -7.92% | -15.84% |
* Financial Sector Average
PNFP
Pinnacle Financial Partners
100.31
14.88
17.41%
OZK
Bank OZK
50.36
6.13
13.86%
FHN
First Horizon
23.43
3.01
14.76%
SFBS
ServisFirst Bancshares
41.09
6.32
18.17%
SSB
SouthState Corporation
105.40
17.19
19.48%
FBK
FB Financial
53.67
-1.16
-2.11%
Pinnacle Financial Partners Corporate Events
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Pinnacle Financial Partners Posts Strong Post-Merger Quarter
Positive
Oct 21, 2026
For the quarter ended Sept. 30, 2026, Pinnacle Financial Partners reported net income available to common shareholders of $364 million, or $2.40 per diluted share, with adjusted net income of $409 million, or $2.69 per diluted share, reflecting do...
Business Operations and StrategyExecutive/Board Changes
Pinnacle Financial Extends Executive Covenants and Compensation
Positive
Sep 10, 2026
On September 9, 2026, Pinnacle Financial Partners, Inc. amended and restated its agreement with Harold R. Carpenter, extending his non-compete and non-solicitation commitments, as well as his obligation to provide cooperation and conversion-relate...
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...
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.