Pinnacle Financial Partners (PNFP) Tops Q4 EPS by 2c

Pinnacle Financial Partners (NASDAQ: PNFP) reported Q4 EPS of $0.83, $0.02 better than the analyst estimate of $0.81. Revenue for the quarter came in at $120.2 million versus the consensus estimate of $122.59 million.

“2016 was a very eventful year,” said M. Terry Turner, Pinnacle’s president and chief executive officer. “In the first quarter of 2016, we announced the Avenue Bank acquisition in Nashville, followed by the technology conversion of the former CapitalMark Bank & Trust in Chattanooga and the Avenue technology conversion later in the year. We also acquired an additional 19 percent interest in Bankers Healthcare Group, LLC (BHG) early in 2016, increasing our ownership in BHG to 49 percent. These transactions occurred after a very busy year of acquisitions in 2015. Our effective acquisition and integration capabilities in concert with our continued ability to produce rapid organic growth are evident throughout the financial results. Excluding merger-related charges, we are reporting year-over-year earnings per share growth of 20.3 percent for the fourth quarter of 2016. Looking forward, we are optimistic about 2017, believing that our current momentum in the very strong urban markets of Tennessee puts us in a position to continue the outsized growth in revenue and earnings per share.”

For earnings history and earnings-related data on Pinnacle Financial Partners (PNFP) click here.

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