Pinnacle Financial Partners (PNFP) Q3 2026 Earnings Report
MX:PNFP Q3 2026 EPS Results
- Actual EPS
- MXN 50.54
- Consensus EPS
- MXN 49.28
- Beat/Miss
- Beat by +MXN 1.26
- One Year Ago EPS
- MXN 42.65
MX:PNFP Q3 2026 Revenue Results
- Actual Revenue
- MXN 36.01B
- Expected Revenue
- MXN 24.07B
- Beat/Miss
- Beat by +MXN 11.95B
- YoY Revenue Growth
- +131.40%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/21/2026
- Time
- During Market Hours
- Conference Call
- Wednesday, October 21, 2026
MX:PNFP Upcoming Earnings
Pinnacle Financial Partners's next earnings date is estimated for January 19, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
MX:PNFP Q3 2026 Earnings Call
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Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
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.
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.
- Strong Earnings GrowthThird-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%.
- Robust Loan and Deposit GrowthLoans grew $1.7 billion linked quarter, or 8% annualized, led by C&I. Deposits grew $2.1 billion linked quarter, while core deposits excluding public funds increased approximately 3% quarter on quarter, or 13% annualized. Year-to-date combined period-end loans increased 8%, or 11% annualized, excluding the purchase accounting loan mark.
- Net Interest Income IncreasedNet interest income rose $30 million linked quarter to $986 million, with earning-asset growth more than offsetting margin contraction. Net interest income has grown more than 2% in every quarter since the merger close.
- Positive Fourth-Quarter Margin OutlookManagement expects the margin to slightly expand in the fourth quarter, supported by the September Fed hike, fixed-rate asset repricing, expected reversals in lower-than-expected PAA and loan fees, and core deposit growth outpacing loan growth.
- Fee Income MomentumAdjusted non-interest revenue increased $53 million linked quarter, or 19%, helped by a $23 million leasing gain and record BHG production. Core banking fees were up about 10% year over year, wealth management was up 11% year to date, and capital markets was up 23%, including lead arranger fees up 50% and derivatives up 26%.
- BHG Delivered Record ProductionBHG had a record production quarter, lifting investment income to $48 million from $24 million in the second quarter. Full-year BHG income guidance increased to $150 million-$160 million from the prior $110 million-$120 million range, and management expects production momentum and investment income to continue into the fourth quarter.
- Revenue Synergies ProgressingMerger-related revenue synergies totaled approximately $20 million year to date, largely from capital markets. Management remains committed to more than $100 million of revenue synergies and expects additional acceleration after the March 2027 conversion when the combined company is on one platform.
- Improved Operating EfficiencyThe adjusted tangible efficiency ratio improved to 48.9%, including a 95 basis point improvement from the second quarter. Management reported positive operating leverage while continuing to invest in bankers and technology.
- Profitability Tracking Merger AssumptionsThird-quarter adjusted return on average tangible common equity was 18.3%, and management stated that profitability is tracking in line with merger assumptions.
- Credit Metrics Remained StrongNet charge-offs were $50 million, or 23 basis points, within the company’s 20-25 basis point range for the third consecutive quarter and for the full year. The non-performing asset ratio remained flat at 0.5%, and management said it was not seeing broad-based stress in the portfolio.
- High-Quality Loan GrowthManagement said loans being added to the balance sheet are high quality. C&I production was up about 11% year over year, and loan growth was broad-based across every geography and specialty unit, with no unit declining during the quarter.
- Capital Continued to BuildThe preliminary common equity Tier 1 ratio increased eight basis points to 10.01% while the company funded $1.7 billion of loan growth. Management remains on a path toward its 10.25% CET1 target and said reaching that target could occur in a few quarters.
- Recruiting Exceeded ExpectationsThe company added 96 experienced revenue producers in the third quarter and 222 year to date. October was running strongly enough for management to expect hiring above the original 225-250 target, with the closing remarks stating that revenue producer hiring was up 57% versus the same quarter last year.
- Strong Producer RetentionProducer retention, excluding merger-related synergies, was 95% year to date. Management also reported voluntary turnover of 6% and said recruiting had not slowed or flatlined.
- New-Hire Productivity PipelineRevenue producers with less than one year at the company had a cash compensation coverage ratio of approximately 88%, while the one-to-three-year cohort covered cash compensation by two to three times. Management also cited approximately $20 billion of embedded future loan growth and a commensurate level of embedded deposit growth from bankers who have not fully consolidated their books.
- Client Satisfaction and Retention StrengthCoalition Greenwich ranked Pinnacle number one in net promoter score among larger banks in its footprint, with the score up two points from the first quarter. Pinnacle also led peers in clients expecting to do more business with the company over the next six to 12 months, and non-CD deposit account closures were down in both dollars and account count versus 2025.
- Deposit Market-Share GainsThe latest FDIC data showed Pinnacle growing deposits at almost three times the pace of its MSA footprint on a combined basis. The company moved up in rank in five states and 17 MSAs, maintained the number-one position in Nashville and Columbus, and increased Atlanta share by almost 50 basis points to strengthen its number-four ranking.
- Merger Integration Remains on ScheduleOperational and brand conversion remains scheduled for March 2027. Systems migrations were completed across client care, mortgage origination, the health savings account business, and select capital-market capabilities, while card reissuance and new signage continued.
- AI Improved Conversion TestingAcross 838 completed test scripts, management estimated that AI handled close to 80% of scripting and reduced the required time by roughly 70%, with a person approving every step.
- Full-Year Guidance MaintainedManagement left its guidance ranges unchanged and expects loan growth at the top end of 9%-11%, deposit growth toward the midpoint of 8%-10% or roughly $9 billion, full-year NIM of 3.44%-3.46%, adjusted revenue just over the midpoint of its range, adjusted non-interest expense just above the middle of $2.675 billion-$2.775 billion, an adjusted effective tax rate in the middle of 20%-21%, and charge-offs within 20-25 basis points.
- Strong Commercial Client OutlookIn a survey of approximately 400 commercial clients, 38% expected to do more business over the next 12 months and 40% expected the same level of business. Management said the outlook remained positive by a two-to-one ratio of growth versus contraction.
- Disciplined Deposit and Loan PricingNew loan production was priced at about 6.5% and new deposits at approximately 2.7%, producing a 375 to 380 basis point spread that was about 10 basis points wider than the prior quarter. Loan spreads relative to the index increased 14 basis points, and new deposits were priced at 270 basis points, five basis points below the prior year.
MX:PNFP Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Jan 19, 2027 | 2026 (Q4) | 51.08- | 42.08 | ― | ― |
| Oct 21, 2026 | 2026 (Q3) | 49.2850.54 | 42.65 | 18.50% (+7.89) | |
| Jul 22, 2026 | 2026 (Q2) | 46.1846.97 | 37.57 | 25.00% (+9.39) | |
| Apr 22, 2026 | 2026 (Q1) | 43.6844.90 | 35.69 | 25.79% (+9.21) | |
| Jan 21, 2026 | 2025 (Q4) | 42.5342.08 | 35.69 | 17.89% (+6.39) | |
| Sep 30, 2025 | 2025 (Q3) | 38.3142.65 | 34.94 | 22.04% (+7.70) | |
| Jul 15, 2025 | 2025 (Q2) | 35.8637.57 | 30.62 | 22.70% (+6.95) | |
| Apr 14, 2025 | 2025 (Q1) | 33.7635.69 | 28.74 | 24.18% (+6.95) | |
| Jan 21, 2025 | 2024 (Q4) | 33.3835.69 | 31.56 | 13.10% (+4.13) | |
| Oct 15, 2024 | 2024 (Q3) | 33.3334.94 | 33.63 | 3.91% (+1.32) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed
