Pinnacle Financial Partners, Inc.
- Open
- 101.07
- Day high
- 101.09
- Day low
- 99.28
- Prev close
- 101.05
- Volume
- 938K
- Mkt cap
- $15.0B
- P/E (TTM)
- 12.2
- EPS (TTM)
- $8.12
- P/B
- 1.0
- P/S
- 3.7
- Yield
- 1.49%
- Per share
- $1.48
Pinnacle Financial Partners, Inc. (PNFP) is a Financial Services company listed on NASDAQ. The stock is down 15% over the past year.
Pinnacle Financial Partners, Inc. (PNFP) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 9 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
PNFP earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $2.30 | $2.39 | +3.9% | $1.8B | +49.5% |
| Jan 21, 2026 | $2.19 | $2.24 | +2.3% | $542M | -1.9% |
| Oct 15, 2025 | $2.04 | $2.27 | +11.3% | $545M | +4.0% |
| Jul 15, 2025 | $1.92 | $2.00 | +4.2% | $505M | +1.7% |
| Apr 14, 2025 | $1.80 | $1.90 | +5.6% | $407M | -15.5% |
| Jan 21, 2025 | $1.80 | $1.90 | +5.6% | $425M | -9.6% |
| Oct 15, 2024 | $1.77 | $1.86 | +5.1% | $408M | -10.9% |
| Jul 16, 2024 | $1.61 | $1.63 | +1.2% | $317M | -26.7% |
| Jan 16, 2024 | $1.65 | $1.68 | +1.8% | $326M | -21.7% |
| Oct 17, 2023 | $1.71 | $1.69 | -1.2% | $350M | -17.1% |
| Jul 18, 2023 | $1.63 | $1.79 | +9.8% | $353M | -16.5% |
| Apr 17, 2023 | $1.72 | $1.76 | +2.3% | $358M | -15.2% |
PNFP insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Dec 31, 2025 | Sumerlin Charissa Dofficer: EVP and Chief Credit Officer | Grant | 8,674 | $98.00 |
| Dec 31, 2025 | CALLICUTT RICHARD D IIdirector, officer: Chairman-Carolinas & Virginia | Grant | 30,613 | $98.00 |
| Dec 29, 2025 | CALLICUTT RICHARD D IIdirector, officer: Chairman-Carolinas & Virginia | Tax | 17,480 | $101.30 |
| Dec 29, 2025 | TURNER M TERRYdirector, officer: CEO | Tax | 23,610 | $101.30 |
| Dec 29, 2025 | CARPENTER HAROLD Rofficer: EVP & CFO | Tax | 11,805 | $101.30 |
| Dec 29, 2025 | MCCABE ROBERT A JRdirector, officer: CHAIRMAN | Tax | 23,610 | $101.30 |
| Nov 28, 2025 | MCCABE ROBERT A JRdirector, officer: CHAIRMAN | Sell | 6,775 | $93.00 |
| Oct 21, 2025 | THOMPSON G KENNEDYdirector | Buy | 5,000 | $87.63 |
| Aug 15, 2025 | BURNS GREGORY Ldirector | Buy | 652 | $92.50 |
| Aug 8, 2025 | INGRAM DAVID Bdirector | Buy | 22,000 | $90.09 |
| Aug 4, 2025 | Farnsworth Thomas C IIIdirector | Buy | 1,000 | $84.94 |
| Aug 4, 2025 | THOMPSON G KENNEDYdirector | Buy | 10,000 | $85.65 |
| Jul 31, 2025 | CARPENTER HAROLD Rofficer: EVP & CFO | Buy | 1,000 | $89.73 |
| Jul 31, 2025 | BURNS GREGORY Ldirector | Buy | 174 | $91.43 |
| May 9, 2025 | MCCABE ROBERT A JRdirector, officer: CHAIRMAN | Sell | 50,589 | $105.29 |
Source: PNFP SEC Form 4 filings, latest Dec 31, 2025. For informational purposes only — not investment advice.
See the full PNFP insider & 13F page →Pinnacle Financial Partners, Inc. company profile
Overview
**Pinnacle Financial Partners, Inc.** (NASDAQ:PNFP) is a regional bank holding company founded in 2000 and headquartered in Nashville, Tennessee. The company operates through its primary subsidiary, Pinnacle Bank, serving customers across the Southeastern United States with a focus on Tennessee, North Carolina, South Carolina, Virginia, and Georgia. Since its IPO in August 2000, Pinnacle has grown from a startup community bank to one of the largest regional banks in the Southeast, with over $52 billion in assets as of December 2024. The company has built its reputation on a relationship-based banking model, consistently ranking among the top employers in the financial services sector and maintaining high customer satisfaction scores.
Business
Pinnacle Financial Partners operates as a regional commercial bank providing traditional banking services to individuals, small-to-medium businesses, and professional entities across the Southeastern United States. The banking industry serves as a financial intermediary, taking deposits from customers and lending those funds to borrowers while earning a spread between the interest paid on deposits and interest earned on loans. The company's core business segments include: **Commercial Banking (Primary Revenue Driver - ~70-75% of revenue):** This segment provides traditional banking services including commercial loans for equipment and working capital, commercial real estate financing for investment properties and owner-occupied buildings, and various deposit products such as checking accounts, savings accounts, money market accounts, and certificates of deposit. Commercial banking serves as the foundation of most regional banks' business models. **Consumer Banking:** Offers personal banking services including residential mortgages, home equity loans and lines of credit, personal installment loans, credit cards, and retail deposit accounts. This segment typically generates lower margins than commercial banking but provides stable deposit funding. **Wealth Management and Trust Services:** Provides fiduciary services, investment management, personal trust services, retirement planning, and brokerage services. This segment generates fee-based income and typically serves higher-net-worth clients. **Bankers Healthcare Group (BHG) - Specialty Lending Subsidiary (10-15% of revenue):** BHG operates a digital lending platform that originates loans to healthcare professionals and other specialized borrowers. This subsidiary uses technology-driven underwriting and often sells loans through securitizations or to third-party investors, generating fee income and some retained interest. **Insurance and Advisory Services:** Provides property and casualty insurance, merger and acquisition advisory services, and middle-market investment banking services. This represents a smaller portion of overall revenue but offers higher-margin fee-based income.
Revenue model
Pinnacle Financial Partners generates revenue primarily through net interest income, which is the difference between interest earned on loans and investments and interest paid on deposits and borrowings. This traditional banking model typically accounts for 70-80% of total revenue. The company borrows money from depositors at relatively low rates and lends it to borrowers at higher rates, capturing the spread as profit. The bank's paying customers include small-to-medium businesses seeking commercial loans and banking services, individuals requiring personal banking products, and specialized borrowers served through the BHG platform. Commercial clients typically generate the highest margins due to larger loan sizes and more comprehensive service relationships. **Secondary revenue streams include:** 1. **Fee-based income** from wealth management, trust services, treasury management, and transaction processing, representing 20-30% of total revenue 2. **Loan origination and servicing fees** from BHG's specialty lending platform 3. **Insurance commissions** and advisory service fees 4. **Investment banking fees** from M&A advisory services **Factors that increase margins include:** Rising interest rates (when loan rates reprice faster than deposit costs), loan growth outpacing deposit cost increases, growth in fee-based services, successful hiring of experienced relationship managers who bring existing client relationships, and expansion into higher-growth metropolitan markets. **Factors that decrease margins include:** Inverted yield curves where short-term deposit costs exceed long-term loan yields, increased competition for deposits driving up funding costs, credit losses from loan defaults, regulatory compliance costs, and economic downturns that reduce loan demand and increase credit risk. The bank's margins are also sensitive to Federal Reserve policy changes, as rising rates can initially boost profitability but may eventually slow economic growth and increase credit losses.
Competitive moat
Pinnacle Financial Partners operates in the highly competitive regional banking sector, where traditional moats are relatively narrow compared to other industries. The company's primary competitive advantages stem from its relationship-based banking model and strong regional market presence, though these represent modest rather than insurmountable moats. **Existing competitive advantages include:** Strong brand recognition and customer loyalty in Southeastern markets, evidenced by high Net Promoter Scores and customer retention rates. The company has built a reputation for superior customer service and maintains deep relationships with local businesses and professionals. Pinnacle's consistent ability to attract experienced relationship managers from competitors provides access to established client relationships and local market knowledge. **Cultural and operational strengths** include high employee satisfaction (ranked among Fortune's Best Places to Work), which supports customer service quality and reduces turnover costs. The bank's specialized expertise in certain market segments, particularly through BHG's healthcare lending platform, provides some differentiation in underwriting and customer acquisition. **However, the banking industry faces significant competitive pressures** that limit moat strength. Large national banks offer competitive rates and extensive digital capabilities, while fintech companies increasingly provide specialized financial services. Community banks often compete aggressively for local relationships, and online banks can offer higher deposit rates without physical branch costs. **Regulatory barriers** provide some protection by making it difficult for new entrants to obtain banking charters, but existing competitors face the same regulations. The company's geographic concentration in Southeastern markets, while providing local expertise, also creates vulnerability to regional economic downturns. **Potential disruption sources** include continued fintech innovation in lending and payments, cryptocurrency and digital currency adoption, and changing customer preferences toward digital-first banking experiences. The company's moat is best characterized as a narrow competitive advantage based on relationships and local market knowledge rather than a sustainable long-term barrier to competition.
Risks & safety
**Overall Assessment:** Pinnacle Financial Partners maintains a moderate margin of safety with solid capital ratios and profitability, though typical banking sector risks apply. **Liquidity and Solvency:** - Strong cash position with $3.34 billion in cash and short-term investments - Debt-to-equity ratio of 0.36, indicating conservative leverage - Current ratio of 110, though this metric is less meaningful for banks due to business model differences - Positive operating cash flow of $904 million annually - No immediate solvency concerns based on regulatory capital ratios **Valuation Metrics:** - Price-to-earnings ratio of 14.5, reasonable for regional bank sector - Price-to-book ratio of 1.36, slight premium to book value - Return on equity of 7.4% for 2024, solid but not exceptional - Trading at modest premium to tangible book value **Credit and Operational Risks:** - Net charge-off guidance of 16-20 basis points indicates manageable credit losses - Loan loss reserves at 1.12% of total loans provide reasonable buffer - Geographic concentration in Southeastern markets creates regional economic exposure - Interest rate sensitivity remains a key risk factor for net interest margin
Recent development
Over the past several years, Pinnacle Financial Partners has pursued a consistent strategy focused on organic growth through talent acquisition and geographic expansion within the Southeastern United States. The company has prioritized hiring experienced relationship managers from competitors, achieving record hiring levels in 2024 with over 50 new revenue producers recruited during the year. **Geographic expansion efforts** have included entry into the Jacksonville, Florida market and continued growth in Washington D.C., Atlanta, and other Southeastern metropolitan areas. The company has adopted a disciplined approach to market entry, waiting for the right leadership teams rather than pursuing aggressive expansion. **BHG subsidiary transformation** represents a significant strategic pivot. The company has streamlined BHG's operations by exiting the SBA lending and buy-now-pay-later businesses to focus on its core digital healthcare lending platform. This repositioning aims to improve profitability and reduce complexity while maintaining BHG's specialized market position. **Balance sheet optimization** has been another key focus, with management repositioning the securities portfolio in 2024 to improve net interest margins and reduce interest rate risk. The company has also worked to reduce its commercial real estate concentration, targeting CRE exposure at 225% or less of risk-based capital. **Deposit strategy evolution** includes developing specialized deposit products and treasury management services to attract operating accounts rather than relying solely on rate-sensitive deposits. The company has emphasized building relationships that generate multiple revenue streams beyond basic deposit gathering. **Technology and digital capabilities** have been enhanced, though the company continues to emphasize its relationship-based model rather than competing primarily on digital innovation. The focus remains on using technology to support relationship managers rather than replacing human interaction.
PNFP company profile · for informational purposes only — not investment advice.
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