Pinnacle Finl Partners Inc Stock Price, News & Analysis

Pinnacle Financial Partners (PNFP) has achieved a remarkable milestone by securing 30 Coalition Greenwich Best Bank awards, the highest number among all banks nationwide. The awards, split equally between small business and middle market banking categories, include 22 national and 8 regional recognitions.

The accolades are based on surveys of over 25,000 business leaders evaluating more than 500 banks, with only 32 banks qualifying for middle market awards and 34 for small business awards. The recognition spans multiple categories including overall satisfaction, trust, customer service, and cash management capabilities.

As the No. 1 bank in the Nashville-Murfreesboro-Franklin MSA, Pinnacle has grown to approximately $52.6 billion in assets as of December 2024. The company ranks No. 11 on FORTUNE's 2024 list of 100 Best Companies to Work For® and holds the top position among banks with over $10 billion in assets in American Banker's Best Banks to Work For ranking.

Pinnacle Financial Partners (PNFP) reported Q4 2024 diluted earnings per share of $1.91, a 60.5% increase from $1.19 in Q4 2023. The company's net interest margin held steady at 3.22%, with net interest income growing 14.0% on a linked-quarter annualized basis.

Notable Q4 2024 achievements include remarkable balance sheet growth, with loan growth of 13.7% and deposit growth of 18.4% linked-quarter annualized. Total assets reached $52.6 billion, up 9.7% year-over-year. The company recruited 161 revenue producers in 2024, a 50.5% increase from 2023.

The company successfully managed its interest rate environment by lowering average deposit costs by 34 basis points during Q4, offsetting a 33 basis point decline in average loan yields. The Board of Directors increased the quarterly cash dividend to $0.24 per common share.

Pinnacle Financial Partners (PNFP) has scheduled its fourth quarter 2024 financial results release for Tuesday, January 21, 2025, after market close. The company will host a live webcast on Wednesday, January 22, at 8:30 a.m. CST to discuss results and business outlook.

PNFP, ranked as the No. 1 bank in the Nashville-Murfreesboro-Franklin MSA, manages approximately $50.7 billion in assets as of September 30, 2024. The company holds the position of second-largest bank holding company in Tennessee and is included in the Nasdaq Financial-100 Index. Notable recognitions include ranking No. 11 on FORTUNE's 2024 list of 100 Best Companies to Work For® and being named one of America's Best Banks to Work For by American Banker.

Pinnacle Financial Partners has secured the No. 21 position on the 2024 Best Workplaces for Parents list by Great Place to Work®, marking its sixth appearance. The ranking is based on anonymous employee surveys, comparing responses between parents and non-parents.

Survey results showed exceptional employee satisfaction, with 97% of associates considering Pinnacle a great workplace. Notable statistics include 99% of associates being proud to tell others they work at Pinnacle and feeling welcome at the firm, while 98% feel positive about the company's community contributions.

The evaluation process involved over 1.3 million survey responses representing 8.2 million employees, considering factors such as parental leave, adoption benefits, and flexible scheduling. Pinnacle, with approximately $50.7 billion in assets as of September 2024, is Tennessee's second-largest bank holding company and ranks No. 11 on FORTUNE's 2024 list of 100 Best Companies to Work For®.

PNFP Capital Markets, the investment bank subsidiary of Pinnacle Bank, has expanded its team by adding six members from Fidus Partners in Charlotte, NC. The new additions include Ed Imbrogno (Co-founder and Managing Director), John Cheek (Managing Director), Stephen Dockery (Managing Director), Adam Dings (Vice President), and two analysts. This expansion brings PNFP Capital Markets' team to 16 members, with offices now in Nashville, Knoxville, and Charlotte. The firm specializes in middle-market investment banking, focusing on mergers and acquisitions and capital advisory services.

Pinnacle Financial Partners (PNFP) has secured the No. 5 position on American Banker magazine's Best Banks to Work For list, maintaining its top-five status nationally. The bank ranks No. 1 among institutions with assets over $10 billion, with $49.2 billion in assets at the time of ranking. This marks Pinnacle's 12th consecutive year on the list since its inception in 2013. The ranking process involves evaluating workplace practices and policies, followed by employee surveys assessing workplace experiences. Notably, Pinnacle is also ranked No. 11 on FORTUNE's 2024 list of 100 Best Companies to Work For® and holds the top position in the Nashville-Murfreesboro-Franklin MSA.

Pinnacle Financial Partners has been named one of the 2024 Fortune Best Workplaces for Women, ranking No. 8 on the prestigious list. This marks the firm's seventh recognition, following previous honors in 2023, 2022, 2021, 2020, 2018, and 2017. The selection process analyzed survey responses from nearly 600,000 women at Great Place To Work Certified™ companies, with strict eligibility criteria including minimum women representation requirements.

The company, which manages approximately $50.7 billion in assets as of September 2024, is currently the No. 1 bank in the Nashville-Murfreesboro-Franklin MSA. Pinnacle also ranks No. 11 on FORTUNE's 2024 list of 100 Best Companies to Work For® in the U.S.

Pinnacle Financial Partners (PNFP) reported net income per diluted common share of $1.86 for Q3 2024, up 10.1% from $1.69 in Q3 2023. The company saw strong growth in earning assets and core deposits, with total assets reaching $50.7 billion, a 6.7% year-over-year increase. Net interest margin expanded to 3.22%, up from 3.06% in Q3 2023. Noninterest income grew 26.9% year-over-year to $115.2 million, driven by a 29.7% increase in wealth management revenues. However, income from BHG decreased 34.4% year-over-year. Noninterest expenses increased 21.6% year-over-year to $259.3 million, primarily due to higher salaries and employee benefits. The company's credit quality remained strong, with net charge-offs at 0.21% of average loans. PNFP's board declared a quarterly cash dividend of $0.22 per common share.

Pinnacle Financial Partners (Nasdaq/NGS: PNFP) has announced the dates for its third quarter 2024 earnings release and conference call. The financial results will be released on Tuesday, October 15, 2024, after market close. A live webcast will be hosted on Wednesday, October 16, at 8:30 a.m. CDT to review the results, business outlook, and other matters.

Investors can access the earnings release on Pinnacle's website at www.pnfp.com. For audio-only access to the call, dial 1-877-209-7255. The webcast will be archived for 90 days following the presentation. Pinnacle, ranked No. 11 on FORTUNE's 2024 list of 100 Best Companies to Work For®, is the top bank in the Nashville-Murfreesboro-Franklin MSA and the second-largest bank holding company in Tennessee, with approximately $49.4 billion in assets as of June 30, 2024.