Pinnacle Financial: 4Q Earnings Snapshot
NASHVILLE, Tenn. (AP) _ Pinnacle Financial Partners Inc. (PNFP) on Tuesday reported fourth-quarter profit of $95.3 million.
The bank, based in Nashville, Tennessee, said it had earnings of $1.23 per share. Earnings, adjusted for non-recurring costs, came to $1.25 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.24 per share.
The regional bank operator posted revenue of $313.4 million in the period. Its revenue net of interest expense was $247.5 million, which also topped Street forecasts. Five analysts surveyed by Zacks expected $246 million.
For the year, the company reported profit of $359.4 million, or $4.64 per share. Revenue was reported as $937.2 million.
Pinnacle Financial shares have increased 13 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $52.21, a decline of 23 percent in the last 12 months.