Pinnacle Financial meets 4Q profit forecasts

NASHVILLE, Tenn. (AP) _ Pinnacle Financial Partners Inc. (PNFP) on Tuesday reported fourth-quarter profit of $36.1 million.

The Nashville, Tennessee-based bank said it had earnings of 78 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, came to 83 cents per share.

The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 83 cents per share.

The regional bank operator posted revenue of $132.2 million in the period. Its adjusted revenue was $120.2 million, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $122.6 million.

For the year, the company reported profit of $127.2 million, or $2.91 per share. Revenue was reported as $446 million.

Pinnacle Financial shares have dropped roughly 6 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $65.25, an increase of 37 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PNFP at https://www.zacks.com/ap/PNFP

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