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Pinnacle Financial (PNFP) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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Pinnacle Financial (PNFP - Free Report) reported $408.04 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 0.6%. EPS of $1.79 for the same period compares to $1.91 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $417.02 million, representing a surprise of -2.15%. The company delivered an EPS surprise of +4.68%, with the consensus EPS estimate being $1.71.
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: 3.1% compared to the 3.1% average estimate based on six analysts.
Efficiency Ratio: 52.3% versus 50.9% estimated by six analysts on average.
Net loan charge-offs (recoveries) to average loans: 0.2% versus 0.2% estimated by four analysts on average.
Average balance - Total interest-earning assets: $42.62 billion compared to the $42.12 billion average estimate based on four analysts.
Total nonperforming loans: $42.95 million versus the three-analyst average estimate of $47 million.
Total nonperforming assets: $45.97 million versus the three-analyst average estimate of $50.82 million.
Net Interest Income: $317.24 million compared to the $319.34 million average estimate based on six analysts.
Total noninterest income: $90.80 million versus the six-analyst average estimate of $95.53 million.
Gains (losses) on mortgage loans sold, net: $2.01 million compared to the $1.68 million average estimate based on four analysts.
Insurance sales commissions: $2.88 million versus $3.77 million estimated by three analysts on average.
Service charges on deposit accounts: $12.67 million compared to the $12.41 million average estimate based on three analysts.
Trust fees: $6.64 million compared to the $6.76 million average estimate based on three analysts.
Shares of Pinnacle Financial have returned +2.9% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Pinnacle Financial (PNFP) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Pinnacle Financial (PNFP - Free Report) reported $408.04 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 0.6%. EPS of $1.79 for the same period compares to $1.91 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $417.02 million, representing a surprise of -2.15%. The company delivered an EPS surprise of +4.68%, with the consensus EPS estimate being $1.71.
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: 3.1% compared to the 3.1% average estimate based on six analysts.
- Efficiency Ratio: 52.3% versus 50.9% estimated by six analysts on average.
- Net loan charge-offs (recoveries) to average loans: 0.2% versus 0.2% estimated by four analysts on average.
- Average balance - Total interest-earning assets: $42.62 billion compared to the $42.12 billion average estimate based on four analysts.
- Total nonperforming loans: $42.95 million versus the three-analyst average estimate of $47 million.
- Total nonperforming assets: $45.97 million versus the three-analyst average estimate of $50.82 million.
- Net Interest Income: $317.24 million compared to the $319.34 million average estimate based on six analysts.
- Total noninterest income: $90.80 million versus the six-analyst average estimate of $95.53 million.
- Gains (losses) on mortgage loans sold, net: $2.01 million compared to the $1.68 million average estimate based on four analysts.
- Insurance sales commissions: $2.88 million versus $3.77 million estimated by three analysts on average.
- Service charges on deposit accounts: $12.67 million compared to the $12.41 million average estimate based on three analysts.
- Trust fees: $6.64 million compared to the $6.76 million average estimate based on three analysts.
View all Key Company Metrics for Pinnacle Financial here>>>Shares of Pinnacle Financial have returned +2.9% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.