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Pinnacle Financial Partners Inc. Stock Upgraded (PNFP)

NEW YORK (TheStreet) -- Pinnacle Financial Partners (Nasdaq:PNFP) has been upgraded by TheStreet Ratings from hold to buy. The company's strengths can be seen in multiple areas, such as its revenue growth, compelling growth in net income, good cash flow from operations, expanding profit margins and solid stock price performance. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.

Highlights from the ratings report include:

  • The revenue growth came in higher than the industry average of 24.7%. Since the same quarter one year prior, revenues slightly increased by 0.4%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Commercial Banks industry. The net income increased by 138.7% when compared to the same quarter one year prior, rising from $3.51 million to $8.37 million.
  • Net operating cash flow has increased to $42.35 million or 18.08% when compared to the same quarter last year. In addition, PINNACLE FINL PARTNERS INC has also modestly surpassed the industry average cash flow growth rate of 16.76%.
  • The gross profit margin for PINNACLE FINL PARTNERS INC is currently very high, coming in at 86.80%. It has increased significantly from the same period last year. Despite the strong results of the gross profit margin, PNFP's net profit margin of 15.00% significantly trails the industry average.
  • Looking at where the stock is today compared to one year ago, we find that it is not only higher, but it has also clearly outperformed the rise in the S&P 500 over the same period. Although other factors naturally played a role, the company's strong earnings growth was key. The stock's price rise over the last year has driven it to a level which is somewhat expensive compared to the rest of its industry. We feel, however, that other strengths this company displays justify these higher price levels.

Pinnacle Financial Partners, Inc. operates as the bank holding company for Pinnacle National Bank that provides various commercial banking services to individuals, small-to medium-sized businesses, and professional entities primarily in Tennessee. The company has a P/E ratio of 13.7, below the average banking industry P/E ratio of 13.9 and below the S&P 500 P/E ratio of 17.7. Pinnacle Financial has a market cap of $596 million and is part of the financial sector and banking industry. Shares are up 6.7% year to date as of the close of trading on Monday.

You can view the full Pinnacle Financial Ratings Report or get investment ideas from our investment research center.

-- Written by a member of TheStreet Ratings Staff

TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

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