Earnings To Watch: Pinnacle Financial Partners (PNFP) Reports Q2 Results Tomorrow

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Regional banking company Pinnacle Financial Partners (NASDAQ: PNFP) will be reporting results tomorrow after market hours. Here’s what you need to know.

Pinnacle Financial Partners beat analysts’ revenue expectations last quarter, reporting revenues of $1.23 billion, up 152% year on year. It was a satisfactory quarter for the company, with an impressive beat of analysts’ tangible book value per share estimates but a narrow beat of analysts’ EPS estimates.

Is Pinnacle Financial Partners a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting Pinnacle Financial Partners’s revenue to grow 140% year on year, improving from the 15.1% increase it recorded in the same quarter last year.

Pinnacle Financial Partners Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Pinnacle Financial Partners has a history of exceeding Wall Street’s expectations.

Looking at Pinnacle Financial Partners’s peers in the regional banks segment, some have already reported their Q2 results, giving us a hint as to what we can expect. M&T Bank delivered year-on-year revenue growth of 4.7%, beating analysts’ expectations by 1.8%, and Commerce Bancshares reported revenues up 11.9%, topping estimates by 1.8%. M&T Bank traded up 5% following the results while Commerce Bancshares was also up 1.7%.

Read our full analysis of M&T Bank’s results here and Commerce Bancshares’s results here.

There has been positive sentiment among investors in the regional banks segment, with share prices up 5.1% on average over the last month. Pinnacle Financial Partners is up 2.7% during the same time and is heading into earnings with an average analyst price target of $118.10 (compared to the current share price of $99.10).

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