Pinnacle Financial Partners, Inc. (PNFP) 10-Year Financial Performance & Capital Metrics

PNFP • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingSoutheast Community Banks

AboutPinnacle Financial Partners, Inc., together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The company accepts various deposits, including savings, checking, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts. Its loan products include commercial loans, such as equipment and working capital loans; commercial real estate loans comprising investment properties and business loans secured by real estate; and loans to individuals consisting of secured and unsecured installment and term loans, lines of credit, residential first mortgage loans, and home equity loans and lines of credit, as well as provides credit cards for consumers and businesses. The company also offers various securities and other financial products; investment products; brokerage and investment advisory programs; and fiduciary and investment management services, such as personal trust, endowments, foundations, individual retirement accounts, pensions, and custody. In addition, it provides insurance agency services primarily in the property and casualty area; merger and acquisition advisory services; and private debt, equity and mezzanine, and other middle-market advisory services. Further, the company offers treasury management, telephone and online banking, mobile banking, debit cards, direct deposit and remote deposit capture, mobile deposit option, automated teller machine, and cash management services. It serves individuals, small to medium-sized businesses, and professional entities. As of December 31, 2020, the company operated 114 offices, including 48 in Tennessee, 36 in North Carolina, 20 in South Carolina, 9 in Virginia, and 1 in Georgia. Pinnacle Financial Partners, Inc. was incorporated in 2000 and is headquartered in Nashville, Tennessee.Show more

Net Interest Income $1.37B +8.2%
Total Revenue $2.85B +15.3%
Net Income $475M -15.5%
Return on Equity 7.62% -21.7%
Net Interest Margin 2.6% -1.3%
Efficiency Ratio 28.72% +23.4%
ROA 0.94% -24.4%
Equity / Assets 12.23% -2.8%
Book Value per Share 83.39 +5.9%
Tangible BV/Share 59.14 +8.9%
Debt/Equity 0.39 -14.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 28.7% efficiency ratio
✓Well capitalized: 12.2% equity/assets
✓Trading at only 1.2x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y27.61%

5Y19.01%

3Y32.89%

TTM-

Profit (Net Income) CAGR

10Y21.02%

5Y3.45%

3Y-3.42%

TTM48.9%

EPS CAGR

10Y11.48%

5Y2.69%

3Y-4.06%

TTM49.62%

ROCE

10Y Avg8.2%

5Y Avg7.94%

3Y Avg8.44%

Latest6.25%

Peer Comparison

Southeast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
FFINFirst Financial Bankshares, Inc.	4.68B	32.65	20.93	18.79%	30.24%	14.14%	6.26%	0.12
FHNFirst Horizon Corporation	11.85B	24.44	17.97	4.71%	15.7%	9.58%	10.33%	0.50
AUBAtlantic Union Bankshares Corporation	5.47B	38.36	17.13	28.8%	15.53%	4.22%	5.51%	0.17
UCBUnited Community Banks, Inc.	4.09B	33.91	16.62	14.65%	17.05%	8.83%	7.4%	0.13
SNVSynovus Financial Corp.	6.95B	50.05	16.52	1.16%	14.09%	13.7%	11.01%	0.35
PNFPPinnacle Financial Partners, Inc.	14.67B	97.65	16.38	15.32%	16.65%	9.1%	5.5%	0.39
CADECadence Bank	8.27B	44.40	16.03	32.37%	18.03%	9.08%	9.39%	0.01
ABCBAmeris Bancorp	5.56B	81.41	15.69	9.75%	21.97%	9.91%	2.53%	0.11

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	236.63M	324.99M	543.31M	736.34M	766.14M	821.79M	932.4M	1.13B	1.26B	1.37B
NII Growth %	0.23%	0.37%	0.67%	0.36%	0.04%	0.07%	0.13%	0.21%	0.12%	0.08%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	255.17M	363.61M	636.14M	946.72M	1.07B	1.02B	1.03B	1.37B	2.35B	2.7B
Interest Expense	18.54M	38.62M	92.83M	210.38M	301.79M	199.25M	98.81M	244.64M	1.09B	1.33B
Loan Loss Provision	9.19M	18.33M	23.66M	34.38M	27.28M	203.81M	16.13M	67.92M	93.6M	120.59M
Non-Interest Income+	52.2M	67.5M	78.81M	102.82M	127.35M	178.08M	184.81M	175.36M	121.27M	155.67M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	307.37M	431.11M	714.95M	1.05B	1.2B	1.2B	1.22B	1.55B	2.47B	2.85B
Revenue Growth %	0.23%	0.4%	0.66%	0.47%	0.14%	0%	0.01%	0.27%	0.6%	0.15%
Non-Interest Expense	136.55M	182.78M	300.46M	354.83M	368.67M	424.7M	449.18M	539.23M	575.79M	819.46M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	143.1M	191.38M	297.99M	449.95M	497.54M	371.36M	651.9M	697.49M	714.01M	581.21M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.35%	0.34%	0.56%	0.51%	0.11%	-0.25%	0.76%	0.07%	0.02%	-0.19%
Pretax Income+	143.1M	191.38M	297.99M	449.95M	497.54M	371.36M	651.9M	697.49M	714.01M	581.21M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	47.59M	64.16M	124.01M	90.51M	96.66M	59.04M	124.58M	136.75M	151.85M	106.15M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	95.51M	127.22M	173.98M	359.44M	400.88M	312.32M	527.32M	560.74M	562.15M	475.06M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.36%	0.33%	0.37%	1.07%	0.12%	-0.22%	0.69%	0.06%	0%	-0.15%
Net Income (Continuing)	95.51M	127.22M	173.98M	359.44M	400.88M	312.32M	527.32M	560.74M	562.15M	475.06M
EPS (Diluted)+	2.52	2.91	2.70	4.64	5.22	4.03	6.75	7.17	7.14	5.96
EPS Growth %	0.25%	0.15%	-0.07%	0.72%	0.13%	-0.23%	0.67%	0.06%	-0%	-0.17%
EPS (Basic)	2.58	2.96	2.73	4.66	5.25	4.04	6.79	7.20	7.20	6.01
Diluted Shares Outstanding	37.97M	43.73M	64.33M	77.45M	76.76M	75.65M	75.93M	76.13M	76.65M	77.13M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	294.28M	182.26M	652.73M	654.35M	368.69M	3.73B	4.02B	1.15B	2.14B	3.34B
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	7.58B	9.99B	18.45B	21.19B	23.8B	27.18B	29.65B	35.89B	40.21B	44.08B
Investments Growth %	0.42%	0.32%	0.85%	0.15%	0.12%	0.14%	0.09%	0.21%	0.12%	0.1%
Long-Term Investments	6.65B	8.69B	15.94B	18.11B	20.26B	23.6B	24.73B	32.33B	35.89B	38.5B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	432.23M	551.59M	1.81B	1.81B	1.82B	1.82B	1.82B	1.85B	1.85B	1.85B
Intangible Assets	10.54M	15.1M	56.71M	46.16M	51.13M	42.34M	33.82M	34.55M	27.46M	21.42M
PP&E (Net)	77.92M	88.9M	266.01M	265.56M	273.93M	290M	288.18M	327.88M	256.88M	311.28M
Other Assets	296.94M	338.12M	912.03M	986.86M	1.41B	1.77B	2.56B	2.57B	3.26B	2.77B
Total Current Assets	1.25B	1.51B	3.23B	3.82B	3.99B	7.42B	9.03B	4.87B	6.68B	9.14B
Total Non-Current Assets	7.46B	9.69B	18.98B	21.21B	23.81B	27.52B	29.44B	37.1B	41.28B	43.45B
Total Assets+	8.71B	11.19B	22.21B	25.03B	27.81B	34.93B	38.47B	41.97B	47.96B	52.59B
Asset Growth %	0.45%	0.28%	0.98%	0.13%	0.11%	0.26%	0.1%	0.09%	0.14%	0.1%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.02%	0.02%	0.01%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	2.59M	5.57M	10.48M	23.59M	42.18M	24.93M	12.5M	19.48M	66.97M	55.62M
Total Debt+	521M	842.78M	1.92B	2.03B	2.94B	1.89B	1.46B	1.08B	2.77B	2.53B
Net Debt	226.71M	660.52M	1.27B	1.38B	2.57B	-1.84B	-2.55B	-62.53M	629.12M	-812.08M
Long-Term Debt	441.91M	757.07M	1.79B	1.93B	2.81B	1.76B	1.31B	888.49M	2.56B	2.3B
Short-Term Debt	79.08M	85.71M	135.26M	104.74M	126.35M	128.16M	152.56M	194.91M	209.49M	230.24M
Other Liabilities	63.93M	90.27M	114.89M	158.95M	288.57M	411.07M	377.34M	386.51M	544.72M	728.76M
Total Current Liabilities	7.05B	8.85B	16.6B	18.98B	20.35B	27.86B	31.47B	35.18B	38.82B	43.13B
Total Non-Current Liabilities	505.84M	847.34M	1.9B	2.09B	3.1B	2.17B	1.69B	1.28B	3.11B	3.03B
Total Liabilities	7.55B	9.7B	18.5B	21.07B	23.45B	30.03B	33.16B	36.45B	41.92B	46.16B
Total Equity+	1.16B	1.5B	3.71B	3.97B	4.36B	4.9B	5.31B	5.52B	6.04B	6.43B
Equity Growth %	0.44%	0.3%	1.48%	0.07%	0.1%	0.13%	0.08%	0.04%	0.09%	0.07%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.1%	0.1%	0.07%	0.09%	0.1%	0.07%	0.1%	0.1%	0.1%	0.08%
Book Value per Share	30.43	34.22	57.64	51.21	56.74	64.83	69.94	72.50	78.75	83.39
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	40.91M	46.36M	77.74M	77.48M	76.56M	75.85M	76.14M	76.45M	76.77M	77.24M
Additional Paid-in Capital	839.62M	1.08B	3.12B	3.11B	3.06B	3.03B	3.05B	3.07B	3.11B	3.13B
Retained Earnings	278.57M	381.07M	519.14M	833.13M	1.18B	1.41B	1.86B	2.34B	2.78B	3.18B
Accumulated OCI	-3.48M	-14.23M	-4.24M	-52.1M	30.53M	175.85M	107.19M	-190.76M	-152.53M	-167.94M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	0	0	0	0	217.13M	217.13M	217.13M	217.13M	217.13M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	84.6M	152.32M	165.86M	470.76M	431.5M	426.75M	657.44M	604.92M	478.4M	904.31M
Operating CF Growth %	-0.11%	0.8%	0.09%	1.84%	-0.08%	-0.01%	0.54%	-0.08%	-0.21%	0.89%
Net Income	95.51M	127.22M	173.98M	359.44M	400.88M	312.32M	527.32M	560.74M	562.15M	475.06M
Depreciation & Amortization	10.27M	186K	-23.62M	-23.6M	8.34M	45.2M	53.26M	62.3M	78.7M	98.58M
Deferred Taxes	5.82M	14.39M	59.65M	11.77M	14.7M	-58.31M	-12.23M	19.74M	72.37M	-19.35M
Other Non-Cash Items	-24.49M	621K	-8.96M	69.37M	-35.41M	196.86M	50.93M	31.65M	-21.79M	148.11M
Working Capital Changes	-9.85M	-1.08M	-54.72M	36.15M	21.77M	-88.05M	13.21M	-109.06M	-254.91M	160.97M
Cash from Investing+	-742.6M	-1.28B	-2.12B	-2.97B	-2.62B	-3.57B	-3.61B	-6.68B	-4.6B	-3.67B
Purchase of Investments	-420.9M	-685.5M	-1.3B	-1.37B	-1.62B	-1.48B	-2.38B	-1.85B	-1.21B	-2.75B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	5.88M	17.61M	155.14M	0	-44.59M	0	0	-30.9M	0	0
Other Investing	-660.36M	-953.97M	-1.61B	-2.07B	-2.03B	-2.72B	-2.01B	-5.26B	-3.81B	-2.24B
Cash from Financing+	791.04M	989.46M	2.55B	2.44B	1.99B	6.58B	3.1B	3.16B	5.18B	3.97B
Dividends Paid	-18.31M	-24.73M	-35.91M	-45.45M	-49.83M	-56.98M	-70.7M	-83.39M	-83.93M	-84.21M
Share Repurchases	0	0	0	-20.69M	-61.42M	-53.28M	-3.79M	-5.46M	-3.73M	-14.43M
Stock Issued	0	0	192.19M	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	1000K	1000K	1000K	1000K	-1000K	-1000K	-1000K	1000K	-1000K
Other Financing	758.29M	845.12M	1.48B	2.36B	1.35B	7.52B	3.62B	3.7B	3.59B	4.32B
Net Change in Cash+	133.04M	-137.31M	595.95M	-57.9M	-194.99M	3.43B	140.09M	-2.92B	1.05B	1.21B
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	187.91M	320.95M	183.65M	779.6M	721.69M	526.71M	3.96B	4.1B	1.18B	2.23B
Cash at End	320.95M	183.65M	779.6M	721.69M	526.71M	3.96B	4.1B	1.18B	2.23B	3.44B
Interest Paid	17.43M	37M	91.63M	199.46M	287.27M	215.89M	110.12M	236.46M	1.04B	1.34B
Income Taxes Paid	45.72M	49.5M	81.54M	55.63M	86.96M	110.8M	108.3M	128.85M	99.89M	30.76M
Free Cash Flow+	73.73M	135.26M	112.36M	447.02M	389.35M	386.99M	634.27M	540.58M	400.15M	807.29M
FCF Growth %	-0.17%	0.83%	-0.17%	2.98%	-0.13%	-0.01%	0.64%	-0.15%	-0.26%	1.02%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	9.75%	9.59%	6.69%	9.37%	9.63%	6.75%	10.32%	10.36%	9.73%	7.62%
Return on Assets (ROA)	1.3%	1.28%	1.04%	1.52%	1.52%	1%	1.44%	1.39%	1.25%	0.94%
Net Interest Margin	2.72%	2.9%	2.45%	2.94%	2.76%	2.35%	2.42%	2.69%	2.63%	2.6%
Efficiency Ratio	44.42%	42.4%	42.03%	33.81%	30.84%	35.42%	36.94%	34.81%	23.27%	28.72%
Equity / Assets	13.26%	13.37%	16.7%	15.84%	15.67%	14.04%	13.8%	13.15%	12.59%	12.23%
Book Value / Share	30.43	34.22	57.64	51.21	56.74	64.83	69.94	72.5	78.75	83.39
NII Growth	22.62%	37.34%	67.17%	35.53%	4.05%	7.26%	13.46%	21.12%	11.76%	8.2%
Dividend Payout	19.17%	19.43%	20.64%	12.65%	12.43%	15.81%	10.53%	12.16%	12.23%	14.53%

Frequently Asked Questions

Valuation & Price

Pinnacle Financial Partners, Inc. (PNFP) has a price-to-earnings (P/E) ratio of 16.4x. This is roughly in line with market averages.

Growth & Financials

Pinnacle Financial Partners, Inc. (PNFP) grew revenue by 15.3% over the past year. This is strong growth.

Yes, Pinnacle Financial Partners, Inc. (PNFP) is profitable, generating $623.6M in net income for fiscal year 2024 (16.6% net margin).

Dividend & Returns

Yes, Pinnacle Financial Partners, Inc. (PNFP) pays a dividend with a yield of 0.92%. This makes it attractive for income-focused investors.

Pinnacle Financial Partners, Inc. (PNFP) has a return on equity (ROE) of 7.6%. This is below average, suggesting room for improvement.

Industry Metrics

Pinnacle Financial Partners, Inc. (PNFP) has a net interest margin (NIM) of 2.6%. NIM has been under pressure due to interest rate environment.

Pinnacle Financial Partners, Inc. (PNFP) has an efficiency ratio of 28.7%. This is excellent, indicating strong cost control.

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