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what it is
Pinnacle takes deposits, makes loans, and sells wealth, mortgage, trust, and insurance services to businesses and consumers.
how it gets paid
Last year Pinnacle Financial made $2.8B in revenue. commercial banking was the main engine at $1.29B, or 46% of sales.
why growth slowed
Revenue fell 10.3% last year. The number that mattered was $5.96 in FY2024 EPS because it was down from $7.14 in 2023.
what just happened
The quarter ended 12/31/24 with EPS of $1.91, a sharp rebound from $0.64 in the prior quarter.
At a glance
B++ balance sheet — above average — nothing keeping you up at night
65/100 earnings predictability — reasonably predictable
12.5x trailing p/e — the market's not buying it — or you found a deal
2.4% dividend yield — cash in your pocket every quarter
$5.96 fy2024 eps est
xvary composite: 60/100 — average
What they do
Pinnacle takes deposits, makes loans, and sells wealth, mortgage, trust, and insurance services to businesses and consumers.
Pinnacle wins because scale and relationships now sit in the same room. After the Synovus merger, it has $117.2 billion in assets and 3,657 employees, making it the largest bank headquartered in Tennessee. Banking relationships are sticky by design (deposit franchise → your checking, treasury, and borrowing in one place → leaving is a paperwork festival), and the company also picked up 50 Coalition Greenwich Best Bank Awards in 2026.
How they make money
$2.8B
annual revenue · their business grew -10.3% last year
commercial banking
$1.29B
8.0%
consumer banking
$0.64B
6.0%
mortgage banking
$0.25B
18.0%
investment and trust
$0.36B
+4.0%
insurance and other fees
$0.25B
+2.0%
The products that matter
commercial loans and treasury services
Commercial Banking
core lending engine
this is where the relationship model shows up. management is still talking about "a lot of opportunities" for 2026, but this snapshot does not give a segment revenue breakout, so you should focus on whether total net interest income can stabilize above the current $1.6B level.
watch loan growth
deposits, mortgages, and consumer lending
Consumer Banking
funding base
consumer banking matters because deposits fund the whole machine. even the $10 ATM refunds for seniors and students tell you what management is buying here: stickier, lower-cost customer balances.
deposit costs matter
investment and retirement advice
Wealth Management
fee revenue buffer
fee income is less tied to loan spreads than classic banking revenue. that matters because non-interest income is only $350M, or 18% of revenue, so any growth here helps make the earnings stream less rate-sensitive.
18% of revenue base
Key numbers
12.5x
trailing p/e
P/E → how many dollars you pay for one dollar of earnings → so what: you are paying a market-like price for a bank that just got much larger.
$2.8B
annual revenue
Revenue → total money coming in → so what: even after a 10.3% decline, Pinnacle still throws off multi-billion-dollar scale.
$2.2B
long-term debt
Long-term debt → money owed over many years → so what: at 15% of capital, leverage looks manageable, but higher funding costs still matter.
2.4%
dividend yield
Dividend yield → cash paid back to shareholders each year as a percent of stock price → so what: you get paid while the merger story plays out.
Financial health
B++
strength
- balance sheet grade B++ — above average financial health
- risk rank 3 — safer than 50% of stocks
- price stability 45 / 100
- long-term debt $2.2B (15% of capital)
B++ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for PNFP right now.
source: institutional data · return history unavailable
What just happened
beat estimates
The quarter ended 12/31/24 with EPS of $1.91, a sharp rebound from $0.64 in the prior quarter.
The full-year picture was less pretty. FY2024 EPS fell to $5.96 from $7.14 in 2023, while annual revenue was $2.8B, down 10.3% vs. prior year.
$2.8B
revenue
$1.91
eps
32.96%
gross margin
the number that mattered
The number that mattered was $5.96 in FY2024 EPS because it was down from $7.14 in 2023, which tells you the merger needs to earn its keep.
source: company earnings report, 2026
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What could go wrong
the #1 risk is Synovus integration execution. this is a premium-priced bank trying to prove it can absorb a $119B-asset merger without giving up earnings quality.
high
Synovus integration
The deal closed on Jan 2, 2026, and the stock fell about 10% afterward. That's the market telling you integration risk is not theoretical.
customer attrition, employee turnover, or system friction would pressure revenue and the multiple at the same time.
high
valuation compression
PNFP trades at 24.1x forward earnings versus a 14.3x peer average. You're paying a 69% premium before the combined bank has proved itself.
if post-merger results look ordinary, the stock can fall even if the bank stays profitable.
med
margin reset
Profit margin fell from 66% to 33%. For a bank, that is not a rounding error. That's the earnings cushion getting cut in half.
if margin pressure persists, the premium multiple has less and less to stand on.
med
revenue concentration in spread income
Net interest income is $1.6B, or 82% of revenue. Fee income is only $350M. That leaves earnings heavily exposed to funding costs, rates, and credit trends.
less fee diversification means less insulation if the lending environment weakens.
A bank trading at a 69% valuation premium with 82% of revenue tied to net interest income does not have much room for a messy merger.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
net interest income stability
$1.6B is still doing most of the work. If that line keeps slipping after the merger, the bull case starts to look cosmetic.
calendar
Q1 2026 results
Report due April 14, 2026. This should be one of the first clean reads on the combined bank's tone, costs, and customer retention.
risk
loan loss provisions
Any jump in provisions would be an early warning that the combined credit book is less clean than the market hoped.
trend
valuation premium vs. peers
24.1x versus 14.3x is the gap. If management can't explain why PNFP deserves it, the market eventually will.
Analyst rankings
earnings predictability
65 / 100
in human-speak, analysts think the numbers are readable but not clean enough to treat as clockwork.
risk rank
3
middle-of-the-pack safety. you're not looking at a crisis case, but you're not hiding in a bunker stock either.
price stability
45 / 100
the stock has been less stable than quality-bank investors usually prefer, which fits the post-merger uncertainty.
source: institutional data
Institutional activity
institutional ownership data for PNFP is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$98
current price
n/a
target midpoint · n/a from current
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