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Pinnacle Financial (PNFP) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
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Pinnacle Financial (PNFP - Free Report) reported $428.14 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 6.6%. EPS of $1.53 for the same period compares to $1.76 a year ago.
The reported revenue represents a surprise of +3.60% over the Zacks Consensus Estimate of $413.27 million. With the consensus EPS estimate being $1.52, the EPS surprise was +0.66%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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% versus 3.1% estimated by six analysts on average.
Efficiency Ratio: 56.6% compared to the 55.2% average estimate based on six analysts.
Average balance - Total interest-earning assets: $43.62 billion compared to the $43.56 billion average estimate based on five analysts.
Net loan charge-offs (recoveries) to average loans: 0.2% versus 0.2% estimated by four analysts on average.
Total nonperforming loans: $108.33 million versus the three-analyst average estimate of $85.25 million.
Total nonperforming assets: $111.09 million versus $90.58 million estimated by three analysts on average.
Net Interest Income: $318.03 million versus $319.88 million estimated by six analysts on average.
Total noninterest income: $110.10 million versus $93.40 million estimated by six analysts on average.
Gains (losses) on mortgage loans sold, net: $2.88 million compared to the $1.17 million average estimate based on four analysts.
Service charges on deposit accounts: $13.44 million versus $12.46 million estimated by three analysts on average.
Insurance sales commissions: $3.85 million compared to the $4.05 million average estimate based on three analysts.
Trust fees: $7.42 million versus the three-analyst average estimate of $7.13 million.
Shares of Pinnacle Financial have returned -4% over the past month versus the Zacks S&P 500 composite's -4% 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) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
Pinnacle Financial (PNFP - Free Report) reported $428.14 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 6.6%. EPS of $1.53 for the same period compares to $1.76 a year ago.
The reported revenue represents a surprise of +3.60% over the Zacks Consensus Estimate of $413.27 million. With the consensus EPS estimate being $1.52, the EPS surprise was +0.66%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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% versus 3.1% estimated by six analysts on average.
- Efficiency Ratio: 56.6% compared to the 55.2% average estimate based on six analysts.
- Average balance - Total interest-earning assets: $43.62 billion compared to the $43.56 billion average estimate based on five analysts.
- Net loan charge-offs (recoveries) to average loans: 0.2% versus 0.2% estimated by four analysts on average.
- Total nonperforming loans: $108.33 million versus the three-analyst average estimate of $85.25 million.
- Total nonperforming assets: $111.09 million versus $90.58 million estimated by three analysts on average.
- Net Interest Income: $318.03 million versus $319.88 million estimated by six analysts on average.
- Total noninterest income: $110.10 million versus $93.40 million estimated by six analysts on average.
- Gains (losses) on mortgage loans sold, net: $2.88 million compared to the $1.17 million average estimate based on four analysts.
- Service charges on deposit accounts: $13.44 million versus $12.46 million estimated by three analysts on average.
- Insurance sales commissions: $3.85 million compared to the $4.05 million average estimate based on three analysts.
- Trust fees: $7.42 million versus the three-analyst average estimate of $7.13 million.
View all Key Company Metrics for Pinnacle Financial here>>>Shares of Pinnacle Financial have returned -4% over the past month versus the Zacks S&P 500 composite's -4% 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.