Pinnacle Financial Partners (PNFP)
NYSE:PNFP
Top Page
Pinnacle Financial Partners
(NYSE:PNFP)
Select Model
Select Model
Rating:73Outperform
Price Target:
$108.00
▲(16.32% Upside)
Action:ReiteratedDate:01/22/26
The score is driven primarily by solid underlying financial performance (especially cash flow strength and healthy operating margins) despite weakening net margin and negative revenue growth. Corporate events add a positive tilt due to the completed Synovus merger and strategic scale benefits, while technical indicators are neutral and valuation is reasonable but supported by only a modest dividend yield.
Positive Factors
Strategic Merger
The merger with Synovus Financial Corp. enhances Pinnacle's market positioning and operational capabilities, creating a larger, more competitive entity.
Negative Factors
Decline in Revenue Growth
A decline in revenue growth can impact long-term profitability and market competitiveness, necessitating strategic adjustments.
Read all positive and negative factors
Positive Factors
Negative Factors
Strategic Merger
The merger with Synovus Financial Corp. enhances Pinnacle's market positioning and operational capabilities, creating a larger, more competitive entity.
Read all positive factors
Pinnacle Financial Partners (PNFP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$13.99B
Dividend Yield0.95%
Average Volume (3M)1.47M
Price to Earnings (P/E)11.4
Beta (1Y)1.28
Revenue Growth7.76%
EPS Growth49.85%
CountryUS
Employees3,595
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)2.24
Shares Outstanding151,200,000
10 Day Avg. Volume1,252,972
30 Day Avg. Volume1,468,758
Financial Highlights & Ratios
PEG Ratio-1.11
Price to Book (P/B)1.36
Price to Sales (P/S)3.06
P/FCF Ratio10.83
Enterprise Value/Market Cap0.44
Enterprise Value/Revenue2.16
Enterprise Value/Gross Profit3.42
Enterprise Value/Ebitda7.25
Forecast
1Y Price Target
$113.29Price Target Upside22.01% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering14
EPS Forecast (FY)10.29
Revenue Forecast (FY)$5.02B
Pinnacle Financial Partners Business Overview & Revenue Model
Company Description
Pinnacle Financial Partners, Inc., together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The company accepts various deposits, including sav...
How the Company Makes Money
Pinnacle Financial Partners generates revenue through several key streams. Primarily, the company earns interest income from loans provided to consumers and businesses, which constitutes a significant portion of its overall revenue. Additionally, ...
Pinnacle Financial Partners Earnings Call Summary
Earnings Call Date:Jan 21, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 22, 2026
Earnings Call Sentiment Positive
The call presented multiple clear strengths: double-digit EPS and revenue growth at legacy firms, healthy loan and deposit growth, successful and rapid merger close with immediate integration activities, securities repositioning that improved liquidity and reduced PAA, and an articulated path to revenue and cost synergies. Near-term headwinds were also prominent: significant merger-related and nonrecurring expenses in 2026, an expected CET1 dip to ~10% in Q1, delayed year-one cost-synergy recognition (40% vs 50%), some concentrated credit charge-offs, and margin sensitivity to rate cuts and liquidity. On balance, management provided confidence in sustainable, people-driven growth (hiring engine, revenue synergies) and concrete actions to stabilize capital and liquidity, making the positives appear to outweigh the near-term challenges.Positive Updates
Strong EPS Growth in 2025 (Legacy Firms)
Legacy Pinnacle: adjusted diluted EPS grew 22% in 2025; Legacy Synovus: adjusted diluted EPS grew 28% in 2025. Q4 standalone: Pinnacle adjusted EPS $2.24 (stable QoQ, +18% YoY); Synovus adjusted EPS $1.45 (stable QoQ, +16% YoY).
Negative Updates
Near-Term Capital Pressure from Merger Marks and Expenses
Management estimates CET1 will be approximately 10% at end of Q1 2026 after valuation marks and expects $225M–$250M of first-quarter merger-related expenses, with an elevated portion of nonrecurring merger/LFI expenses (~$450M–$500M of $720M) incurred in 2026.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong EPS Growth in 2025 (Legacy Firms)
Legacy Pinnacle: adjusted diluted EPS grew 22% in 2025; Legacy Synovus: adjusted diluted EPS grew 28% in 2025. Q4 standalone: Pinnacle adjusted EPS $2.24 (stable QoQ, +18% YoY); Synovus adjusted EPS $1.45 (stable QoQ, +16% YoY).
Read all positive updates
Company Guidance
Management's 2026 guidance calls for period‑end loans of $91.0–$93.0 billion (up 9–11% vs pro forma YE2025) and total deposits of $106.5–$108.5 billion (up 8–10%), with adjusted revenue targeted at about $5.0 billion and a net interest margin of 3.45%–3.55%; adjusted noninterest revenue is expected to be ≈$1.1 billion (including $125–$135 million of BHG income) and adjusted noninterest expense $2.7–$2.8 billion (with ~40% or ~$100 million of annualized merger savings realized in 2026 and $450–$500 million of the $720 million nonrecurring merger/LFI expense expected this year); credit assumptions call for net charge‑offs of 20–25 bps, capital targets are a CET1 ratio of 10.25%–10.75% (with Q1 pro forma CET1 ~10% after $225–$250 million of Q1 merger expense), a quarterly common dividend of $0.50/share and a $400 million share‑repurchase authorization, a tax rate of ~20%–21%, and a recruiting goal of 250 total revenue producers in 2026 — all while executing securities repositioning (~$4.4 billion sold/$4.4 billion bought, avg yield ~4.7%, duration ~4.25 years) to reduce RWA and PAA.Pinnacle Financial Partners Financial Statement Overview
Summary
Income Statement
75
Positive
Balance Sheet
70
Positive
Cash Flow
80
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.82B | 2.85B | 2.47B | 1.55B | 1.22B | 1.20B |
| Gross Profit | 1.78B | 1.40B | 1.29B | 1.24B | 1.10B | 796.05M |
| EBITDA | 840.66M | 679.79M | 792.70M | 759.79M | 705.16M | 416.56M |
| Net Income | 623.57M | 475.06M | 562.15M | 560.74M | 527.32M | 312.32M |
Balance Sheet | ||||||
| Total Assets | 55.96B | 52.59B | 47.96B | 41.97B | 38.47B | 34.93B |
| Cash, Cash Equivalents and Short-Term Investments | 9.68B | 8.92B | 6.46B | 4.70B | 8.93B | 7.31B |
| Total Debt | 2.53B | 2.53B | 2.77B | 1.08B | 1.46B | 1.89B |
| Total Liabilities | 49.11B | 46.16B | 41.92B | 36.45B | 33.16B | 30.03B |
| Stockholders Equity | 6.86B | 6.43B | 6.04B | 5.52B | 5.31B | 4.90B |
Cash Flow | ||||||
| Free Cash Flow | 1.12B | 807.29M | 400.15M | 540.58M | 634.27M | 386.99M |
| Operating Cash Flow | 1.14B | 904.31M | 478.40M | 604.92M | 657.44M | 426.75M |
| Investing Cash Flow | -5.12B | -3.67B | -4.60B | -6.68B | -3.61B | -3.57B |
| Financing Cash Flow | 4.41B | 3.97B | 5.18B | 3.16B | 3.10B | 6.58B |
Pinnacle Financial Partners Technical Analysis
Positive
92.85
Price Trends
91.19
Positive
93.34
Negative
94.50
Negative
Market Momentum
0.42
Negative
62.83
Neutral
87.85
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PNFP, the sentiment is Positive. The current price of 92.85 is above the 20-day moving average (MA) of 85.84, above the 50-day MA of 91.19, and below the 200-day MA of 94.50, indicating a neutral trend. The MACD of 0.42 indicates Negative momentum. The RSI at 62.83 is Neutral, neither overbought nor oversold. The STOCH value of 87.85 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PNFP.
Pinnacle Financial Partners Risk Analysis
Pinnacle Financial Partners disclosed 44 risk factors in its most recent earnings report. Pinnacle Financial Partners reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Pinnacle Financial Partners Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $13.99B | 11.43 | 9.48% | 0.95% | 7.76% | 49.85% | |
72 Outperform | $7.41B | 12.84 | 15.43% | 1.97% | 12.63% | 14.25% | |
71 Outperform | $8.15B | 10.18 | 9.79% | 1.93% | -2.81% | 14.96% | |
69 Neutral | $8.97B | 12.51 | 14.95% | 3.05% | 2.85% | 20.57% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
PNFP
Pinnacle Financial Partners
92.85
1.83
2.01%
BOKF
Bok Financial
135.20
47.83
54.75%
CBSH
Commerce Bancshares
50.91
-3.65
-6.68%
CFR
Cullen/Frost Bankers
143.09
36.47
34.20%
Pinnacle Financial Partners Corporate Events
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Pinnacle Financial Partners Reports Strong Pre‑Merger Synovus Results
Positive
Jan 21, 2026
On January 21, 2026, Pinnacle Financial Partners released Synovus Financial Corp.’s fourth‑quarter and full‑year 2025 results, highlighting strong performance by both legacy institutions ahead of their merger, which closed on Jan...
Business Operations and StrategyExecutive/Board Changes
Pinnacle Financial Partners Updates Executive Pay and Noncompete Terms
Neutral
Jan 15, 2026
On January 14, 2026, Pinnacle Financial Partners amended a prior letter agreement with Chief Banking Officer Robert A. McCabe Jr. following the merger of Legacy Pinnacle into the company, keeping his total target compensation at $5,890,000 while a...
Business Operations and StrategyExecutive/Board ChangesDelistings and Listing ChangesM&A Transactions
Pinnacle Financial Partners completes transformative Synovus merger
Positive
Jan 2, 2026
On January 1–2, 2026, Pinnacle Financial Partners, Inc. of Tennessee and Synovus Financial Corp. of Georgia completed a merger into a new Georgia-based holding company, which adopted the Pinnacle Financial Partners, Inc. name and now control...
Executive/Board ChangesM&A Transactions
Pinnacle Financial Partners Announces Post-Merger Board
Positive
Dec 1, 2025
On December 1, 2025, Pinnacle Financial Partners and Synovus Financial Corp. announced the anticipated board of directors for their merged entity, Pinnacle Financial Partners, Inc., following their merger agreement on July 24, 2025. The merger, ex...
Business Operations and StrategyM&A TransactionsRegulatory Filings and Compliance
Pinnacle Financial Partners Merger Receives Regulatory Approval
Positive
Nov 26, 2025
On July 24, 2025, Pinnacle Financial Partners and Synovus Financial Corp. entered into a merger agreement to form a new entity, Steel Newco Inc., which will operate as Pinnacle Financial Partners, Inc. The merger, which includes the integration of...
M&A TransactionsShareholder Meetings
Pinnacle Financial Partners Merger with Synovus Approved
Positive
Nov 6, 2025
On November 6, 2025, Pinnacle Financial Partners and Synovus Financial Corp. shareholders approved the proposed merger of the two firms into Steel Newco Inc., a newly formed Georgia corporation. The merger aims to create a leading regional bank wi...
Legal ProceedingsM&A Transactions
Pinnacle Financial Faces Legal Challenges in Merger
Negative
Oct 28, 2025
On July 24, 2025, Pinnacle Financial Partners, Inc. entered into a merger agreement with Synovus Financial Corp. and Steel Newco Inc., aiming to merge into a single entity named Pinnacle Financial Partners, Inc. The merger, approved by the boards ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.