Pinnacle Financial Partners (PNFP)
NYSE:PNFP
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Pinnacle Financial Partners
(NYSE:PNFP)
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Rating:73Outperform
Price Target:
$107.00
â–²(10.24% Upside)
Action:Reiterated
Date:06/09/26
Overall score reflects strong financial momentum (sharp TTM revenue acceleration and very strong, earnings-backed free cash flow) as the primary positive. The score is tempered by structurally lower margins versus 2021–2022 and balance-sheet expansion that increases execution risk, while valuation is supportive (P/E ~11.4). Technicals are neutral-to-mildly positive, and the earnings call reinforces a constructive but charge- and capital-constrained near-term path.
Positive Factors
Cash generation
Sustained, high free cash flow that closely tracks earnings (TTM FCF ~0.98x net income) strengthens the bank's ability to fund organic loan growth, rebuild capital, pay dividends, and finance integration costs without relying solely on external capital — a durable support for strategy.
Negative Factors
CET1 capital shortfall
A CET1 ratio below policy constrains capital flexibility: management must prioritize retained earnings, potential capital issuance or risk transfers, and slower buybacks/dividends until rebuilt. This limits strategic optionality and increases execution risk over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Sustained, high free cash flow that closely tracks earnings (TTM FCF ~0.98x net income) strengthens the bank's ability to fund organic loan growth, rebuild capital, pay dividends, and finance integration costs without relying solely on external capital — a durable support for strategy.
Read all positive factors
Pinnacle Financial Partners (PNFP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$14.52B
Dividend Yield0.95%
Average Volume (3M)1.20M
Price to Earnings (P/E)11.3
Beta (1Y)1.30
Revenue Growth39.90%
EPS Growth16.82%
CountryUS
Employees8,389
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)8.12
Shares Outstanding151,106,810
10 Day Avg. Volume1,565,337
30 Day Avg. Volume1,202,437
Financial Highlights & Ratios
PEG Ratio0.33
Price to Book (P/B)1.04
Price to Sales (P/S)2.51
P/FCF Ratio11.03
Enterprise Value/Market Cap0.51
Enterprise Value/Revenue1.87
Enterprise Value/Gross Profit2.72
Enterprise Value/Ebitda8.53
Forecast
1Y Price Target
$116.08Price Target Upside19.60% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering14
EPS Forecast (FY)10.28
Revenue Forecast (FY)$5.06B
Pinnacle Financial Partners Business Overview & Revenue Model
Company Description
Pinnacle Financial Partners, Inc. functions as a bank holding company, overseeing Pinnacle Bank, which delivers a comprehensive range of banking solutions and services across the United States. The company facilitates various types of deposit acco...
How the Company Makes Money
Pinnacle Financial Partners primarily makes money through a banking model centered on (1) net interest income and (2) noninterest income.
1) Net interest income (core earnings driver for most commercial banks)
- Interest income on loans: The comp...
Pinnacle Financial Partners Earnings Call Summary
Earnings Call Date:Apr 22, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 22, 2026
Earnings Call Sentiment Positive
The call conveyed a strongly positive operational and commercial performance in the first quarter post‑merger: robust organic loan and core deposit growth, margin expansion, material fee revenue growth, rapid recruiting and early synergy realization. Key near‑term negatives are sizable merger-related charges that depressed reported EPS, CET1 below target (9.8%), a reserve build driven by cautious economic assumptions and a modest reduction in near‑term BHG revenue guidance. Management reiterated full‑year guidance and emphasized integration progress, culture strength and confidence in execution, leading to an overall constructive outlook.Positive Updates
Strong Organic Loan Growth
Period-end loans (ex. day‑1 purchase accounting loan mark) increased $2.1 billion in Q1, a 10% annualized rise from combined Q4 2025, driven primarily by C&I and specialty lending; first‑quarter funded production totaled ~$4.2 billion.
Negative Updates
Significant Merger‑Related Costs Impacting Reported EPS
Q1 included $275 million of nonrecurring merger‑related expenses, which materially reduced reported diluted EPS ($0.89) versus adjusted diluted EPS ($2.39); management expects $400–$450 million of nonrecurring merger & LFI charges this year (of $720M total).
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Organic Loan Growth
Period-end loans (ex. day‑1 purchase accounting loan mark) increased $2.1 billion in Q1, a 10% annualized rise from combined Q4 2025, driven primarily by C&I and specialty lending; first‑quarter funded production totaled ~$4.2 billion.
Read all positive updates
Company Guidance
Pinnacle reiterated its 2026 guidance: period‑end loan growth of 9–11% (ex‑purchase‑accounting; Q1 organic was ~3%), total deposit growth of 8–10% (Q1 core deposits +$1.9B, ~8% annualized), adjusted revenue $5.0–5.2B, NIM about 3.5% (Q1 3.53%), adjusted noninterest revenue ≈$1.1B (including BHG income ~$105–115M), adjusted noninterest expense $2.675–2.775B, and an adjusted tangible efficiency ratio near 51%; management expects to realize ~40% (~$100M) of merger savings in 2026 while incurring $400–450M of the $720M in nonrecurring merger/LFI charges this year, targets net charge‑offs of 20–25 bps (Q1 NCOs $49M, 23 bps), plans to manage CET1 from 9.8% toward a ~10.25% target (proposed capital NPR could add ~60 bps), and assumes an adjusted effective tax rate of ~20–21%.Pinnacle Financial Partners Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
67
Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.01B | 2.92B | 2.85B | 2.47B | 1.55B | 1.22B |
| Gross Profit | 2.75B | 1.93B | 1.40B | 1.29B | 1.24B | 1.10B |
| EBITDA | 877.12M | 837.81M | 679.79M | 792.70M | 759.79M | 705.16M |
| Net Income | 651.69M | 642.10M | 475.06M | 562.15M | 560.74M | 527.32M |
Balance Sheet | ||||||
| Total Assets | 122.77B | 57.71B | 52.59B | 47.96B | 41.97B | 38.47B |
| Cash, Cash Equivalents and Short-Term Investments | 6.17B | 12.82B | 8.92B | 6.46B | 4.70B | 8.93B |
| Total Debt | 6.05B | 2.52B | 2.53B | 2.77B | 1.08B | 1.46B |
| Total Liabilities | 108.17B | 50.66B | 46.16B | 41.92B | 36.45B | 33.16B |
| Stockholders Equity | 14.59B | 7.04B | 6.43B | 6.04B | 5.52B | 5.31B |
Cash Flow | ||||||
| Free Cash Flow | 1.69B | 665.18M | 807.29M | 400.15M | 540.58M | 634.27M |
| Operating Cash Flow | 1.71B | 759.01M | 904.31M | 478.40M | 604.92M | 657.44M |
| Investing Cash Flow | -4.66B | -5.03B | -3.67B | -4.60B | -6.68B | -3.61B |
| Financing Cash Flow | 5.00B | 4.40B | 3.97B | 5.18B | 3.16B | 3.10B |
Pinnacle Financial Partners Technical Analysis
Positive
97.06
Price Trends
96.17
Negative
93.47
Positive
93.01
Positive
Market Momentum
0.07
Negative
50.69
Neutral
65.12
Neutral
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 97.06 is above the 20-day moving average (MA) of 96.24, above the 50-day MA of 96.17, and above the 200-day MA of 93.01, indicating a neutral trend. The MACD of 0.07 indicates Negative momentum. The RSI at 50.69 is Neutral, neither overbought nor oversold. The STOCH value of 65.12 is Neutral, 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 40 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 | $7.98B | 13.85 | 14.87% | 1.97% | 13.70% | 5.91% | |
73 Outperform | $14.52B | 11.35 | 7.42% | 0.95% | 39.90% | 16.82% | |
73 Outperform | $9.15B | 13.85 | 15.05% | 3.05% | 2.22% | 12.61% | |
68 Neutral | $7.92B | 12.74 | 10.32% | 1.93% | -2.17% | 13.60% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
PNFP
Pinnacle Financial Partners
96.12
-9.76
-9.21%
BOKF
Bok Financial
130.33
37.62
40.58%
CBSH
Commerce Bancshares
54.73
-2.54
-4.44%
CFR
Cullen/Frost Bankers
145.66
22.92
18.68%
Pinnacle Financial Partners Corporate Events
Business Operations and StrategyFinancial DisclosuresM&A TransactionsPrivate Placements and Financing
Pinnacle Updates Strategy and Outlook Post Synovus Merger
Positive
Jun 8, 2026
Pinnacle Financial Partners plans to participate in a fireside chat at the Morgan Stanley US Financials Conference on June 9, 2026, where it will discuss its strategy following the January 1, 2026 closing of its merger with Synovus. Management mat...
Business Operations and StrategyShareholder Meetings
Pinnacle Financial Shareholders Back Board, Pay and Incentive Plan
Positive
May 22, 2026
At its 2026 Annual Meeting of Shareholders held on May 21, 2026, Pinnacle Financial Partners shareholders elected 15 director nominees by majority vote, with each receiving strong support despite some opposition and abstentions, and 17,015,646 bro...
Business Operations and StrategyPrivate Placements and Financing
Pinnacle Financial Issues $750 Million Senior Notes
Positive
May 19, 2026
On May 19, 2026, Pinnacle Financial Partners, Inc. completed a public offering of $750 million in 5.596% Fixed Rate / Floating Rate Senior Notes due 2032, issued under its existing senior indenture structure with The Bank of New York Mellon Trust ...
Private Placements and Financing
Pinnacle Financial Raises $750 Million Through Senior Notes
Positive
May 14, 2026
On May 12, 2026, Pinnacle Financial Partners, Inc. entered into an underwriting agreement with Morgan Stanley Co. LLC, RBC Capital Markets, LLC and Goldman Sachs Co. LLC to sell $750 million of 5.596% fixed rate / floating rate senior notes due ...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Pinnacle Financial Partners Completes Merger and Issues Projections
Neutral
May 12, 2026
On January 1, 2026, Synovus Financial Corp. and Legacy Pinnacle Financial Partners completed a simultaneous merger into a jointly owned Georgia corporation, which was then renamed Pinnacle Financial Partners, Inc., making it the new parent holding...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Pinnacle Financial Posts Strong Q1 After Synovus Merger
Positive
Apr 22, 2026
Pinnacle Financial Partners reported first-quarter 2026 results on April 22, 2026, marking its first full quarter after closing the Synovus merger on January 1, which transformed it into one of the largest regional banks with $85.2 billion in loan...
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.