Pinnacle Financial Partners Reports Q4 Earnings Beat
NASHVILLE, Tenn., Feb. 28, 2023 – Pinnacle Financial Partners Inc. (PNFP) reported net income of $151.3 million for the fourth quarter. Adjusted earnings per share were $1.90, exceeding analysts' expectations of $1.80.
Revenue for the period reached $795.9 million, with net revenue of $475.3 million, also surpassing forecasts.
For the full year, the company reported a profit of $475.1 million ($5.96 per share) on revenue of $1.74 billion.
Analysts remain optimistic about PNFP's prospects, with Zacks Investment Research maintaining a Buy rating and a price target of $82.