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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 2023, Pinnacle Financial (PNFP - Free Report) reported revenue of $489.23 million, up 25.4% over the same period last year. EPS came in at $1.79, compared to $1.86 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $405.36 million, representing a surprise of +20.69%. The company delivered an EPS surprise of +9.15%, with the consensus EPS estimate being $1.64.
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: 3.2% compared to the 3.29% average estimate based on six analysts.
Efficiency Ratio: 43.26% versus 51.52% estimated by six analysts on average.
Net loan charge-offs (recoveries) to average loans: 0.13% versus the four-analyst average estimate of 0.18%.
Average balance - Total interest-earning assets: $40.96 billion versus $39.65 billion estimated by four analysts on average.
Total nonperforming loans: $44.29 million compared to the $38.86 million average estimate based on three analysts.
Total nonperforming assets: $47.39 million compared to the $46.96 million average estimate based on three analysts.
Net Interest Income: $315.39 million compared to the $315.46 million average estimate based on six analysts.
Total noninterest income: $173.84 million versus the six-analyst average estimate of $93.04 million.
Gains (losses) on mortgage loans sold, net: $1.57 million compared to the $2.45 million average estimate based on four analysts.
Service charges on deposit accounts: $12.18 million compared to the $11.74 million average estimate based on three analysts.
Insurance sales commissions: $3.25 million versus the three-analyst average estimate of $3.39 million.
Trust fees: $6.63 million compared to the $6.58 million average estimate based on three analysts.
Shares of Pinnacle Financial have returned +5.8% over the past month versus the Zacks S&P 500 composite's +2.7% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform 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 2023, Pinnacle Financial (PNFP - Free Report) reported revenue of $489.23 million, up 25.4% over the same period last year. EPS came in at $1.79, compared to $1.86 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $405.36 million, representing a surprise of +20.69%. The company delivered an EPS surprise of +9.15%, with the consensus EPS estimate being $1.64.
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: 3.2% compared to the 3.29% average estimate based on six analysts.
- Efficiency Ratio: 43.26% versus 51.52% estimated by six analysts on average.
- Net loan charge-offs (recoveries) to average loans: 0.13% versus the four-analyst average estimate of 0.18%.
- Average balance - Total interest-earning assets: $40.96 billion versus $39.65 billion estimated by four analysts on average.
- Total nonperforming loans: $44.29 million compared to the $38.86 million average estimate based on three analysts.
- Total nonperforming assets: $47.39 million compared to the $46.96 million average estimate based on three analysts.
- Net Interest Income: $315.39 million compared to the $315.46 million average estimate based on six analysts.
- Total noninterest income: $173.84 million versus the six-analyst average estimate of $93.04 million.
- Gains (losses) on mortgage loans sold, net: $1.57 million compared to the $2.45 million average estimate based on four analysts.
- Service charges on deposit accounts: $12.18 million compared to the $11.74 million average estimate based on three analysts.
- Insurance sales commissions: $3.25 million versus the three-analyst average estimate of $3.39 million.
- Trust fees: $6.63 million compared to the $6.58 million average estimate based on three analysts.
View all Key Company Metrics for Pinnacle Financial here>>>Shares of Pinnacle Financial have returned +5.8% over the past month versus the Zacks S&P 500 composite's +2.7% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.