Pinnacle Financial: 2Q Earnings Snapshot
Posted Jul 21, 2020 06:38:12 PM.
Last Updated Jul 21, 2020 06:40:08 PM.
This article is more than 5 years old.
NASHVILLE, Tenn. (AP) _ Pinnacle Financial Partners Inc. (PNFP) on Tuesday reported second-quarter profit of $62.4 million.
The Nashville, Tennessee-based bank said it had earnings of 83 cents per share. Earnings, adjusted for one-time gains and costs, came to 89 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 88 cents per share.
The regional bank operator posted revenue of $324.7 million in the period. Its revenue net of interest expense was $273.6 million, which also beat Street forecasts. Four analysts surveyed by Zacks expected $270.6 million.
Pinnacle Financial shares have declined 36% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $41.03, a decrease of 30% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PNFP at https://www.zacks.com/ap/PNFP
The Associated Press
