NYSE$PNFP
Pinnacle Financial Partners Inc. · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
Pinnacle Financial's earnings decreased due to increased provision for credit losses related to the COVID-19 pandemic, though loan and deposit growth and fee revenues exceeded expectations.
Pinnacle Financial Partners reported a decrease in net income per diluted common share to $0.37 for Q1 2020, compared to $1.22 for Q1 2019. The results were impacted by an $86 million increase in the allowance for credit losses due to the COVID-19 pandemic. However, the company saw growth in loans, deposits, and fee income.
- Diluted EPS was $0.37, a decrease of 69.7% compared to Q1 2019.
- Loans increased to $20.4 billion, reflecting year-over-year growth of 12.2%.
- Deposits reached a record $21.3 billion, an increase of 15.4% from the previous year.
- The company increased its allowance for credit losses by $86 million due to the COVID-19 pandemic.
Headline financials
Revenue & EPS history
Pinnacle Financial · Revenue · Quarterly
$263M
Revenue by segment
Pinnacle Financial · $56.5M total across 4 segments · Q3 2025
- Investment Services$23.9M+33.8%42.3%
- Service Charges$18.3M+12.8%32.4%
- Trust Fees$10.3M+23.1%18.2%
- Insurance Commissions$4.02M+22.2%7.1%
Forward guidance
Pinnacle Financial anticipates further increasing its liquidity position during the second quarter and expects 2020 annualized expense growth to be in the low to mid-single digit percentage increases in comparison to 2019.
Tailwinds
- Continuing to increase on-balance sheet liquidity position.
- Expects minimal impact on net interest income from additional liquidity.
- Targeting a cash incentive award payout of approximately 50 percent for 2020.
- Focusing hiring plan on Atlanta buildout, key revenue producer adds, and critical operational positions.
- Believe 2020 annualized expense growth will be in the low to mid-single digit percentage increases in comparison to 2019.
Headwinds
- Additional liquidity will have a dilutive impact on net interest margin in 2020.
- Expenses increased in the first quarter of 2020 due in large part to the impact of COVID-19 to off-balance sheet reserves, primarily for unfunded lines of credit.
- Reduced targeted cash incentive award for 2020 to a payout of approximately 50 percent.
- Suspended share repurchase program.
- Eliminated much of 2020 hiring plan.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2020
+0.4%
Avg return
Earnings day
+0.7%
Avg return
5 days after
+2.8%
Avg return
30 days after
60%
24 / 40 earnings
Positive
+6.1%
Q2 2020
Best reaction
-5.9%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | — | — | — | |
| Q1 2026 | +1.3% | +0.1% | -1.5% | |
| Q4 2025 | -4.1% | -6.3% | -0.7% | |
| Q3 2025 | -5.9% | -1.8% | -1.0% | |
| Q2 2025 | +1.4% | +1.7% | -19.7% | |
| Q1 2025 | +2.3% | +3.2% | +20.3% | |
| Q4 2024 | +0.3% | +2.8% | -1.4% | |
| Q3 2024 | +1.2% | +6.4% | +24.3% | |
| Q2 2024 | +2.8% | +4.9% | +0.9% | |
| Q1 2024 | +2.4% | +1.0% | +2.5% | |
| Q4 2023 | -1.9% | +1.6% | +0.7% | |
| Q3 2023 | +1.3% | -9.8% | +5.9% | |
| Q2 2023 | +5.6% | +14.2% | +9.3% | |
| Q1 2023 | +3.7% | +3.6% | -5.2% | |
| Q4 2022 | +0.9% | -3.3% | +4.8% | |
| Q3 2022 | +0.2% | -8.7% | -8.5% | |
| Q2 2022 | +3.6% | +6.4% | +20.2% | |
| Q1 2022 | +0.2% | -3.4% | -10.8% | |
| Q4 2021 | -2.3% | -7.8% | -12.6% | |
| Q3 2021 | +1.3% | +3.9% | +4.9% | |
| Q2 2021 | +4.1% | +5.9% | +9.2% | |
| Q1 2021 | -0.7% | -4.0% | -2.2% | |
| Q4 2020 | +0.5% | +4.6% | +12.0% | |
| Q3 2020 | +2.2% | +14.3% | +36.9% | |
| Q2 2020 | +6.1% | +8.2% | +5.7% | |
| Q1 2020 | -1.2% | -9.1% | -5.4% | |
| Q4 2019 | -2.1% | -4.3% | +0.1% | |
| Q3 2019 | +1.0% | +3.7% | +6.9% | |
| Q2 2019 | -0.4% | +4.8% | -5.9% | |
| Q1 2019 | -2.3% | -1.7% | -2.2% | |
| Q4 2018 | +0.4% | +5.6% | +9.3% | |
| Q3 2018 | -1.3% | -3.0% | -3.7% | |
| Q2 2018 | -0.6% | +3.9% | +6.9% | |
| Q1 2018 | -0.2% | -0.4% | +3.5% | |
| Q4 2017 | -1.0% | -6.6% | -6.5% | |
| Q3 2017 | -1.7% | +1.7% | -2.0% | |
| Q2 2017 | +0.4% | +2.2% | -5.3% | |
| Q1 2017 | +1.9% | +5.7% | -1.5% | |
| Q4 2016 | -4.0% | -6.9% | +4.5% | |
| Q3 2016 | +0.6% | -3.7% | +16.3% | |
| Q2 2016 | -0.0% | -0.4% | +2.2% | |
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