Welcome to our dedicated page for Pinnacle Finl Partners news (Ticker: PNFP), a resource for investors and traders seeking the latest updates and insights on Pinnacle Finl Partners stock.
Pinnacle Financial Partners, Inc. (NYSE: PNFP) generates frequent news as a regional bank holding company serving commercial and consumer clients across the Southeast and Atlantic Coast. This PNFP news page aggregates company announcements, investor communications and other coverage related to Pinnacle’s banking, investment, trust, mortgage and insurance activities.
Readers can expect updates tied to Pinnacle’s strategic direction and corporate actions, including its completed merger with Synovus Financial Corp., the integration of Synovus Bank into Pinnacle Bank, and the firm’s presence on the New York Stock Exchange. Company press releases have highlighted milestones such as ringing the opening bell at the NYSE, regulatory approvals for the merger, and shareholder votes in favor of the combination.
News items also include financial communications, such as earnings release dates, dividend declarations on common and preferred stock, and participation in financial services conferences hosted by major investment banks. In addition, Pinnacle regularly issues updates on governance and leadership, including the composition of its board of directors and the appointment of banking leaders for local markets and banking specialties.
Because Pinnacle operates more than 400 offices in nine states and emphasizes a geographic, relationship-based banking model, its news flow often reflects developments in its core metropolitan markets and its efforts to recruit financial services professionals. Investors, analysts and clients can use this PNFP news feed to follow the firm’s corporate events, market positioning in areas such as Nashville and Atlanta, and ongoing integration activities following the Synovus merger.
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Pinnacle Financial Partners, Inc. (PNFP) announced a cash dividend of $0.22 per share, set for payment on May 26, 2023, to shareholders on record as of May 5, 2023. Additionally, the board approved a dividend of approximately $3.8 million, equating to $16.88 per share, on its 6.75% Series B Non-Cumulative Perpetual Preferred Stock, payable on June 1, 2023, to those on record by May 17, 2023. The future dividend payments will require board approval. Pinnacle operates as the No. 1 bank in the Nashville-Murfreesboro-Franklin MSA, holding approximately $45.1 billion in assets as of March 31, 2023. The firm ranks highly among U.S. banks for workforce satisfaction.
Pinnacle Financial Partners reported a net income of $1.76 per diluted common share for Q1 2023, up 6.7% year-over-year from $1.65. Annualized linked-quarter loan growth was 17.3%, while deposits increased by 13.9%. The firm’s total assets reached $45.1 billion, reflecting a 14.5% year-over-year rise. Pre-tax, pre-provision net revenues rose 18.5% to $190 million. Despite strong growth metrics, the company noted a decline in its net interest margin to 3.40% from 3.60% in Q4 2022. Noninterest income fell 13.5% compared to the previous year. Additionally, Pinnacle's employee count increased by 9.8% year-over-year, leading to higher salary expenses. The firm remains optimistic about its resilience in the current volatile banking environment and anticipates moderated loan growth amid macroeconomic challenges.
Pinnacle Financial Partners (PNFP) will release its Q1 2023 financial results on April 17, 2023, after market close. A live webcast will follow on April 18 at 8:30 a.m. CDT to discuss results and business outlook. Pinnacle is recognized as the No. 1 bank in the Nashville-Murfreesboro-Franklin MSA and ranks No. 27 among America’s Best Banks by Forbes. The firm has experienced significant growth, currently holding approximately $42 billion in assets. Pinnacle operates across 17 urban markets in the Southeast, reinforcing its position as a leading financial institution.
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Pinnacle Financial Partners has released its 2022 Annual Report, showcasing its resilience and stability in challenging economic environments. The report emphasizes a unique growth model centered on winning market share rather than relying on traditional loan demand. This strategy allows Pinnacle to mitigate the impact of interest rate fluctuations and economic downturns. The firm operates in 17 markets across the Southeast, managing approximately $42.0 billion in assets as of December 31, 2022. Recognized as one of America’s Best Banks, Pinnacle continues to adapt by assisting clients from troubled banks and reinforcing its commitment to long-term shareholder value.
Pinnacle Financial Partners has been ranked 27th among the largest banks in the U.S. by Forbes, surpassing competitors in Tennessee, North Carolina, South Carolina, and Georgia. The ranking reflects Pinnacle's strong performance metrics, including a 17.6% return on equity and a total asset valuation of $41 billion. Pinnacle's president and CEO, M. Terry Turner, cites employee engagement and responsible decision-making as key factors driving the company's success. This year marks the 14th release of Forbes' list, reinforcing Pinnacle's reputation as a top financial institution in the Southeastern U.S.
Pinnacle Financial Partners reported a net income per diluted share of $1.76 for Q4 2022, up 2.9% from Q4 2021. For the year, net income reached $7.17, marking a 6.2% increase year-over-year. Loan growth was strong at 19.2% linked quarter, while deposits grew 15.1%. The firm experienced a 33.8% rise in net interest income year-over-year. However, noninterest income fell 18.3% in Q4 2022 compared to Q4 2021. Pinnacle also reported a new share repurchase program of up to $125 million. The board declared a quarterly cash dividend of $0.22 per common share.
Pinnacle Financial Partners (PNFP) will release its Q4 2022 financial results on January 17, 2023, after market close. A live webcast to discuss these results will be held on January 18, 2023, at 8:30 a.m. CST. PNFP is recognized as the No. 1 bank in the Nashville-Murfreesboro-Franklin MSA and is listed among the top 25 banks in the U.S. by Forbes. As of September 30, 2022, Pinnacle's assets reached approximately $41.0 billion.
The earnings release will be available on their investor relations page.
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