Pinnacle Financial Partners, Inc. PNFP

FinancialsBanking ServicesUnited States of America

Last close 101.66 USD on Nov 1, 2026, +8.5% year to date

Quant rating

Quant rating B Rank 290 of 799 in Financials

Growth B 133 of 799
Valuation C 407 of 799
Quality C 436 of 799
Revisions B 166 of 799
Momentum C 499 of 799

Wall Street consensus Buy (2.00)Average target 120.81 USD +18.8%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 15.4B
Enterprise value: 16.2B
52-week range: 81.21 – 110.29
3-year range: 81.21 – 110.29
Dividend yield: 1.97%
Beta (5 years): –
Shares outstanding: 151M
Next earnings: Jan 18, 2027

About the company

Pinnacle Financial Partners, Inc. is a bank holding company. It provides a full range of banking, investment, trust, mortgage and insurance products and services for commercial and consumer clients who want a comprehensive relationship with their financial institution. The Bank operates offices in Tennessee, Georgia, Florida, North Carolina, South Carolina, Alabama, Kentucky, Virginia and Maryland. It provides a full range of banking services, including investment, mortgage, insurance, and comprehensive wealth management services, in several primarily urban markets and their surrounding communities. Its products and services include lending services, deposit services, investment, trust and insurance services, M&A advisory and securities offering services, and other banking services. It offers a full range of lending products, including commercial, real estate and consumer loans to individuals, businesses and professional entities.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	2,796	2,698	2,353	1,374	1,031	–
Revenue growth	3.6%	14.6%	71.3%	33.2%	1.0%	22.3%
EPS (basic, normalized)	8.38	5.99	6.68	7.20	6.79	–
EPS growth	39.9%	−10.3%	−7.3%	6.1%	3.8%	5.1%
Gross margin	–	–	–	–	–	–
Net margin	22.4%	17.0%	23.2%	39.7%	49.7%	30.4%
ROE	9.7%	8.5%	9.8%	16.6%	10.0%	10.9%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Tier 1 risk-adjusted capital ratio	10.7%
Long-term debt (mil)	0
Net debt (mil)	–
Total equity (mil)	14,610
Net debt / equity	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			Book value per share			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	P/B	Mean est.	Growth	P/E
2025 actual	2,796	+3.6%	5.8x	87.86	+8.2%	1.2x	8.37	+21.5%	12.1x
2026	5,076	+81.6%	3.2x	95.03	+8.2%	1.1x	10.25	+22.4%	9.9x
2027	5,512	+8.6%	2.9x	103.78	+9.2%	1.0x	11.59	+13.1%	8.8x
2028	5,966	+8.2%	2.7x	113.65	+9.5%	0.9x	13.02	+12.3%	7.8x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	5,076	+0.7%	+0.7%	0.0%	10.25	+0.4%	+0.4%	−1.1%
2027	5,512	+0.8%	+0.9%	+0.4%	11.59	+1.3%	+1.7%	−1.7%
2028	5,966	+0.8%	+1.4%	−0.3%	13.02	−1.5%	−2.0%	−2.9%

Earnings surprises EPS beat in 3 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	428	367	467	463	463	505	545	511	1,217	1,203
Sales mean (mil)	422	435	461	471	484	499	526	553	1,201	1,240
Surprise	+1.3%	−15.8%	+1.3%	−1.8%	−4.3%	+1.1%	+3.5%	−7.7%	+1.3%	−3.0%
EPS reported	1.54	0.64	1.86	1.90	1.90	2.00	2.27	2.24	2.39	2.50
EPS mean	1.54	1.61	1.77	1.78	1.80	1.90	2.05	2.24	2.26	2.46
Surprise	0.0%	−60.1%	+4.9%	+6.9%	+5.6%	+5.3%	+10.9%	−0.2%	+5.9%	+1.6%

Peer comparison Banking Services

Peers in the same industry group, by market capitalization
Company	Market cap	Tier 1 ratio	Net margin	Deposits/loans	FY1 P/E	FY2 P/E	FY1 P/B	FY2 P/B
PNFP Pinnacle Financial Partners, Inc.	15.4B	10.7%	22.4%	1.22x	9.9x	8.8x	1.1x	1.0x
JPM JPMorgan Chase & Co.	895.9B	15.2%	28.8%	1.74x	13.6x	13.2x	2.5x	2.3x
BAC Bank of America Corporation	346.2B	14.0%	21.0%	1.72x	11.3x	9.7x	1.3x	1.2x
WFC Wells Fargo & Company	250.4B	11.4%	23.2%	1.47x	11.4x	10.4x	1.5x	1.4x
AXP American Express Company	214.0B	–	13.8%	–	18.0x	15.8x	6.1x	5.4x
COF Capital One Financial Corp	123.2B	14.8%	3.1%	1.11x	9.4x	8.5x	1.2x	1.1x
Mean		13.2%	18.7%	1.45x	12.3x	11.1x	2.3x	2.1x
Median		14.0%	21.7%	1.47x	11.4x	10.0x	1.4x	1.3x

Technical analysis

1M+8.8%
3M−2.9%
1Y+8.5%
3Y+8.5%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Pinnacle Financial Partners, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Interest income	2,796	2,698	2,353	1,374	1,031	1,021
Total interest expense	1,247	1,333	1,091	245	98.8	199
Net interest income	1,548	1,366	1,262	1,129	932	822
Loan loss provision	107	121	93.6	67.9	16.1	–
Net interest income after loan loss provision	1,441	1,245	1,169	1,061	916	822
Non-interest income	507	371	433	416	396	318
Non-interest expense	−1,168	−1,035	−888	−780	−660	−768
Net income before taxes	780	581	714	697	652	371
Provision for taxes	138	106	152	137	125	59.0
Minority interest & equity in affiliates	–	–	–	–	–	–
Other	0	0	0	0	0	0
Net income before extraordinary items	642	475	562	561	527	312
Extraordinary items	–	–	–	–	–	–
Net income	642	475	562	561	527	312
Basic weighted average shares (mil)	76.9	76.5	76.0	75.7	75.5	75.4
Diluted weighted average shares (mil)	77.7	77.1	76.6	76.1	75.9	75.7
Basic EPS excluding extraordinary items	8.15	6.01	7.20	7.20	6.79	4.04
Basic EPS, normalized	8.38	5.99	6.68	7.20	6.79	6.54

Balance sheet in millions of USD, fiscal years

Balance sheet, Pinnacle Financial Partners, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & due from banks	358	320	229	269	188	203
Other earning assets	12,467	11,665	9,910	8,092	10,964	8,268
Net loans	38,712	35,071	32,323	28,741	23,151	22,139
Property, plant & equipment	701	603	553	455	381	374
Goodwill	1,849	1,849	1,847	1,847	1,820	1,820
Intangibles	29.7	21.4	27.5	34.6	33.8	42.3
Long-term investments	392	437	445	443	361	309
Other long-term assets	–	–	–	–	–	–
Other assets	3,197	2,623	2,625	2,089	1,570	1,777
Total assets	57,706	52,589	47,960	41,970	38,469	34,933
Liabilities
Accounts payable	48.2	55.6	67.0	19.5	12.5	24.9
Payable/accrued	–	–	–	–	–	–
Accrued expenses	377	303	305	133	97.9	87.7
Total deposits	47,397	42,843	38,540	34,961	31,305	27,706
Other bearing liabilities	1,778	1,874	2,138	464	889	1,088
Short-term borrowings	316	230	209	195	153	128
Current portion of long-term debt	–	–	–	–	–	–
Long-term debt	434	428	427	427	426	674
Minority interest	–	–	–	–	–	–
Other liabilities	312	424	238	251	277	320
Total liabilities	50,662	46,158	41,924	36,451	33,159	30,028
Shareholders' equity
Preferred stock	217	217	217	217	217	217
Common stock	77.7	77.2	76.8	76.5	76.1	75.8
Additional paid-in capital	3,144	3,130	3,109	3,075	3,046	3,028
Retained earnings (accumulated deficit)	3,728	3,176	2,785	2,342	1,864	1,408
Treasury stock	–	–	–	–	–	–
Other equity	−123	−168	−153	−191	107	176
Total equity	7,044	6,432	6,036	5,519	5,311	4,905
Total liabilities & shareholders' equity	57,706	52,589	47,960	41,970	38,469	34,933

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Pinnacle Financial Partners, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	642	475	562	561	527	312
Depreciation, depletion & amortization	114	98.6	78.7	62.3	53.3	45.2
Deferred taxes	−75.4	−19.4	72.4	19.7	−12.2	−58.3
Non-cash items	−37.6	23.7	−71.0	−48.6	−40.7	−27.2
Changes in working capital	116	326	−164	10.7	130	155
Cash from operations	759	904	478	605	657	427
Investing activities
Capital expenditures	−93.8	−97.0	−78.3	−64.3	−23.2	−39.8
Other investing cash flows	−4,940	−3,575	−4,524	−6,620	−3,590	−3,528
Cash from investing	−5,034	−3,672	−4,602	−6,684	−3,613	−3,568
Financing activities
Financing cash flow items	4,523	4,079	5,268	3,249	3,173	6,415
Cash dividends paid	−89.9	−84.2	−83.9	−83.4	−70.7	−57.0
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−29.1	−20.7	−7.3	−10.5	−7.2	218
Cash from financing	4,404	3,974	5,177	3,155	3,096	6,576
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	129	1,206	1,053	−2,924	140	3,435
Free cash flow	665	807	400	541	634	387

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.