Pinnacle Financial Partners Beats On Q2 Earnings
Portfolio Pulse from Lekha Gupta
Pinnacle Financial Partners Inc (NASDAQ:PNFP) reported Q2 2023 revenues of $489.2 million, up 25.4% Y/Y, beating the consensus of $414.9 million. Net interest income rose 19.2% Y/Y to $315.4 million. Noninterest income grew 38.5% Y/Y to $173.8 million. The company's Board of Directors approved a quarterly cash dividend per share of $0.22. PNFP shares closed higher by 5.61% at $64.72 on Tuesday.
July 19, 2023 | 9:49 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Pinnacle Financial Partners reported strong Q2 2023 results, beating revenue consensus and showing significant growth in net interest and noninterest income. The company also approved a quarterly cash dividend per share of $0.22.
Pinnacle Financial Partners reported strong Q2 2023 results, with revenues, net interest income, and noninterest income all showing significant Y/Y growth. This positive earnings report, along with the approval of a quarterly cash dividend, is likely to have a positive impact on the company's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100