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Pinnacle Financial Partners beats Q4'19 EPS estimates

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Pinnacle Financial Partners beats Q4'19 EPS estimates

Nashville, Tenn.-based Pinnacle Financial Partners Inc. reported net income of $96.1 million, or $1.26 per share, for the quarter ended Dec. 31, 2019, compared with $95.3 million, or $1.23 per share, for the same period the previous year.

The S&P Global Market Intelligence consensus GAAP EPS estimate for the fourth quarter of 2019 was $1.25.

The company's net interest income for the quarter ended Dec. 31, 2019, was $194.2 million, compared with $190.2 million for the same period in 2018. Revenues for the quarter ended Dec. 31, 2019, were $253.6 million, compared with $247.5 million for the fourth quarter of 2018.

The company's net interest margin was 3.35% for the fourth quarter of 2019, compared with 3.63% for the year-ago quarter.

The company's total loans at the end of the quarter were $19.79 billion, compared with $17.71 billion as of Dec. 31, 2018. Deposits at Dec. 31, 2019, were $20.18 billion, an increase from the $18.85 billion recorded as of Dec. 31, 2018.

Net charge-offs for the fourth quarter of 2019 were $3.5 million, compared with $5.7 million for the three months ended Dec. 31, 2018.

Pinnacle's net income for full year 2019 stood at $400.9 million, or $5.22 per share, compared with $359.4 million, or $4.64 per share, for 2018. The S&P Global Market Intelligence consensus GAAP EPS estimate for 2019 was $5.22.