Pinnacle Financial Partners, Inc. · PNFP · FY2025 Q2 · Calendar Q3 2025
PNFP: Organic growth model supports raised fee outlook
The supplied analysis supports a constructive but conditional view: PNFP’s organic hiring model, core-deposit growth, fee platforms and BHG activity provide evidence for continued earnings momentum, while rate sensitivity, credit quality and talent execution remain important constraints.
Earnings scorecard
Reported versus consensusMarket reaction
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Transcript intelligence
What changed
Compared with the prior-quarter analysis, the current analysis describes a raised guidance sentiment, stronger fee-growth expectations and continued double-digit expansion. Management also continued to emphasize organic growth, Southeast expansion and no immediate need for M&A.
Guidance delta
Management guidance sentiment was raised, with fee-growth targets of 12–15%; the analysis also cites a 7–10% deposit-growth target and modest NIM upside with future rate cuts.
Key takeaways
- Management described double-digit loan, core-deposit and earnings growth, led by experienced relationship-manager hiring.
- Net interest margin held at 3.23%, up 2 basis points, despite a volatile yield curve.
- BHG and wealth-management activity supported fee growth, while management emphasized organic expansion over immediate M&A.
- The main test is whether hiring-led growth and credit performance can persist through changing rates and economic conditions.
Management priorities
- Continue hiring relationship managers and deepen the Southeast footprint
- Maintain fee growth and expense discipline while monitoring NIM
- Evaluate BHG monetization when market conditions improve
- Continue organic expansion without an immediate need for M&A
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Analyst 52W Price Targets
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 24, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Truist Securities | Buy | Buy | Maintain | Oct 9, 2026 |
| TD Cowen | Buy | Buy | Maintain | Oct 5, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Oct 2, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Oct 1, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Oct 1, 2026 |
| Wells Fargo | Overweight | Equal Weight | Upgrade | Sep 30, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Sep 28, 2026 |
| Benchmark | Buy | Buy | Maintain | Aug 5, 2026 |
| DA Davidson | Neutral | Neutral | Maintain | Jul 24, 2026 |
| Citigroup | Buy | Buy | Maintain | Jun 25, 2026 |
| Stephens & Co. | Equal Weight | Equal Weight | Maintain | Apr 30, 2026 |
| UBS | Buy | Buy | Maintain | Apr 24, 2026 |
| Barclays | Overweight | Overweight | Maintain | Apr 7, 2026 |
| Keefe, Bruyette & Woods | Market Perform | Market Perform | Maintain | Jan 9, 2026 |
| Hovde Group | Outperform | Market Perform | Upgrade | Oct 17, 2025 |
| Jefferies | Hold | Buy | Downgrade | Jul 25, 2025 |
| Raymond James | Market Perform | Outperform | Downgrade | Oct 6, 2022 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | Jun 15, 2020 |
| Hilliard Lyons | Neutral | Buy | Downgrade | Oct 20, 2017 |
| Sandler O'Neill | Hold | Buy | Downgrade | Sep 13, 2016 |
| Keefe Bruyette & Woods | Outperform | Market Perform | Upgrade | Sep 11, 2015 |
| Wunderlich Securities | Buy | Hold | Upgrade | Apr 29, 2015 |
| Wunderlich | Buy | Hold | Upgrade | Apr 29, 2015 |
| FIG Partners | Outperform | Market Perform | Upgrade | Apr 16, 2014 |
Named analyst price targets
Upside is calculated against the persisted current price $100.35. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Truist Financial | John McDonald | $112 | $94.67 | +11.6% | Oct 9, 2026 |
| Piper Sandler | Stephen Scouten | $125 | $94.63 | +24.6% | Oct 2, 2026 |
| Evercore ISI | Analyst unavailable | $108 | $93.61 | +7.6% | Oct 1, 2026 |
| William Blair | Analyst unavailable | $190 | $94.21 | +89.3% | Sep 30, 2026 |
| Morgan Stanley | Analyst unavailable | $139 | $94.18 | +38.5% | Sep 28, 2026 |
| Hovde Group | Analyst unavailable | $125 | $99.34 | +24.6% | Sep 16, 2026 |
| Morgan Stanley | Ryan Kenny | $137 | $101.01 | +36.5% | Sep 8, 2026 |
| Wells Fargo | Terry McEvoy | $118 | $104.68 | +17.6% | Aug 10, 2026 |
| Stephens | Analyst unavailable | $112 | $103.76 | +11.6% | Jul 27, 2026 |
| Piper Sandler | Analyst unavailable | $123 | $99.81 | +22.6% | Jul 24, 2026 |
| Evercore ISI | Analyst unavailable | $120 | $99.64 | +19.6% | Jul 6, 2026 |
| Robert W. Baird | Analyst unavailable | $115 | $94.33 | +14.6% | May 19, 2026 |
| Stephens | Analyst unavailable | $109 | $97.71 | +8.6% | Apr 30, 2026 |
| Evercore ISI | John Pancari | $115 | $98.71 | +14.6% | Apr 29, 2026 |
| UBS | Timur Braziler | $120 | $97.91 | +19.6% | Apr 24, 2026 |
| Truist Financial | Analyst unavailable | $114 | $84.68 | +13.6% | Mar 26, 2026 |
| Evercore ISI | Analyst unavailable | $116 | $101.32 | +15.6% | Feb 5, 2026 |
| UBS | Analyst unavailable | $106 | $99 | +5.6% | Feb 4, 2026 |
| Piper Sandler | Analyst unavailable | $122 | $95.3 | +21.6% | Jan 28, 2026 |
| Deutsche Bank | Analyst unavailable | $116 | $97.27 | +15.6% | Jan 21, 2026 |
| Truist Financial | Analyst unavailable | $100 | $98.22 | -0.3% | Jan 9, 2026 |
| Truist Financial | Analyst unavailable | $118 | $98.57 | +17.6% | Jan 9, 2026 |
| UBS | Analyst unavailable | $107 | $97.95 | +6.6% | Jan 6, 2026 |
| D.A. Davidson | Gary Tenner | $110 | $95.1 | +9.6% | Jan 5, 2026 |
| Piper Sandler | Stephen Scouten | $120 | $95.1 | +19.6% | Jan 5, 2026 |
| Barclays | Analyst unavailable | $135 | $99.99 | +34.5% | Dec 19, 2025 |
| Barclays | Jared Shaw | $125 | $86.68 | +24.6% | Nov 11, 2025 |
| Truist Financial | John McDonald | $105 | $85.86 | +4.6% | Oct 17, 2025 |
| Stephens | Analyst unavailable | $97 | $84.74 | -3.3% | Oct 17, 2025 |
| Wells Fargo | Analyst unavailable | $100 | $84.74 | -0.3% | Oct 17, 2025 |
| Hovde Group | Analyst unavailable | $106 | $84.74 | +5.6% | Oct 17, 2025 |
| Barclays | Analyst unavailable | $120 | $91.92 | +19.6% | Oct 8, 2025 |
| UBS | Analyst unavailable | $108 | $97.47 | +7.6% | Sep 2, 2025 |
| UBS | Nicholas Holowko | $121 | $118.15 | +20.6% | Jul 9, 2025 |
| Citigroup | Benjamin Gerlinger | $123 | $105.47 | +22.6% | Oct 17, 2024 |
| Barclays | Jared Shaw | $108 | $105.47 | +7.6% | Oct 17, 2024 |
| Truist Financial | Jennifer Demba | $113 | $100.53 | +12.6% | Oct 16, 2024 |
| Barclays | Jared Shaw | $101 | $95.54 | +0.6% | Sep 26, 2024 |
| Barclays | Jared Shaw | $97 | $93.97 | -3.3% | Jul 18, 2024 |
| Piper Sandler | Stephen Scouten | $98 | $93.97 | -2.3% | Jul 17, 2024 |
| Stephens | Matt Olney | $102 | $80.64 | +1.6% | May 23, 2024 |
| Stephens | Analyst unavailable | $104 | $87.49 | +3.6% | Apr 20, 2022 |
Track every rating change on PNFP the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationPinnacle Financial Partners, Inc. functions as a bank holding company, overseeing Pinnacle Bank, which delivers a comprehensive range of banking solutions and services across the United States. The company facilitates various types of deposit accounts for its clients, including savings accounts, standard checking accounts (both interest-bearing and noninterest-bearing), money market accounts, and certificates of deposit. Its lending portfolio is extensive, covering commercial loans for purposes like equipment financing and working capital, along with commercial real estate loans for investment properties and business ventures backed by real estate. For individual clients, Pinnacle Bank offers secured and unsecured installment loans, term loans, lines of credit, residential first mortgage loans, and home equity loans and lines of credit. Additionally, it issues credit cards for both consumers and businesses.…
Historical context
All PNFP earningsFinancial Services peers this season
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| FCNCA First Citizens BancShares, Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +9.9% | First Citizens raises Q4 outlook after strong loan and deposit growth |
| FCNCN First Citizens BancShares, Inc. Depositary Shares, each representing a 1/40th interest in a share of 6.625% Non-Cumulative Perpetual Preferred Stock, Series E | FY2026 Q3 · Calendar Q4 2026 | — | +0.5% | First Citizens: Strong Q3 Growth, Higher 2026 Guidance |
| FCNCO First Citizens BancShares, Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +0.3% | First Citizens reports strong Q3 growth and raises guidance |
| FCNCP First Citizens BancShares, Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +1.0% | First Citizens: Strong Q3 growth supports a raised outlook |
| AXP American Express Company | FY2026 Q3 · Calendar Q4 2026 | — | -3.6% | American Express raises EPS outlook as premium cards and AI drive growth |
| BBD Banco Bradesco S.A. | FY2026 Q3 · Calendar Q4 2026 | -7.7% | +3.0% | Bradesco: Loan growth and capital strength offset credit risks |
Latest beats and misses
Who reports nextBeat on EPS
- FIXFY2026 Q3 · October 22, 2026+8.2% EPS-8.5% move
- DECKFY2027 Q2 · October 22, 2026+13.4% EPS-0.2% move
- OMCFY2026 Q3 · October 22, 2026+2.2% EPS+2.6% move
- SSNCFY2026 Q3 · October 22, 2026+0.6% EPS+2.8% move
- BEFY2026 Q3 · October 22, 2026+36.0% EPS-8.7% move
- ROPFY2026 Q3 · October 22, 2026+1.7% EPS+9.7% move
Missed on EPS
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
- HBANMFY2026 Q3 · October 22, 2026-5.3% EPS+0.5% move
- HBANPFY2026 Q3 · October 22, 2026-5.3% EPS0.0% move
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:55.686058+00:00
- Polygon adjusted daily market bars · 2026-10-23T23:50:43.218708+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-23T23:50:43.216433+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-23. For educational purposes only; not investment advice.