U.S. Markets open in 5 hrs 14 mins

Pinnacle Financial meets 4Q profit forecasts

NASHVILLE, Tenn. (AP) _ Pinnacle Financial Partners Inc. (PNFP) on Tuesday reported fourth-quarter net income of $26.8 million.

The bank, based in Nashville, Tennessee, said it had earnings of 35 cents per share. Earnings, adjusted for pretax expenses and costs related to mergers and acquisitions, were 97 cents per share.

The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 97 cents per share.

The regional bank operator posted revenue of $244.6 million in the period. Its adjusted revenue was $211.2 million, falling short of Street forecasts. Four analysts surveyed by Zacks expected $223.1 million.

For the year, the company reported profit of $174 million, or $2.70 per share. Revenue was reported as $688.2 million.

Pinnacle Financial shares have increased slightly more than 2 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $67.85, declining slightly in the last 12 months.

_____

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