For PNFP-PA preferred shareholders, this filing is a routine quarterly update with no credit-surprise or risk-factor changes. Monitor the next 10-Q for actual 2Q26 NIM and NCO trends to confirm credit quality. The stable CET1 guidance and absence of dividend or call announcements suggest no near-term catalyst for the preferred.
Price Chart
Executive Summary
Pinnacle Financial Partners (PNFP) has furnished a presentation for an upcoming fireside chat at the Morgan Stanley US Financials Conference. The presentation provides a 2Q26 business update and maintains prior full-year 2026 guidance, with revenue trending toward the lower end of the range and expenses tracking to the lower half. For the Series A preferred holder, the update is neutral as it shows no credit-material changes: CET1 ratio is expected to be relatively stable quarter-over-quarter, and the company expressly states no share repurchases are expected in 2026.
Key Facts
- PNFP will present at the Morgan Stanley US Financials Conference on June 9, 2026.
- 2Q26 outlook: adjusted revenue $1.230B-$1.245B, NIM ~3.50%, adjusted non-interest expense $665M-$675M.
- Full-year 2026 guidance unchanged: adjusted revenue $5.00B-$5.20B (trending to $5.05B-$5.10B), NCOs/avg loans 0.20%-0.25%.
- Issued $750M senior debt in May 2026; sold ~$1.0B of municipal securities with a realized pre-tax loss of -$31M, CET1 neutral/+3bps via RWA reduction.
- No share repurchases expected in 2026; CET1 ratio target relatively stable QoQ for 2Q26.
- Synovus merger closed January 1, 2026; integration milestones being executed.
- 98 revenue producers hired YTD through May 31, 2026; accelerating pace.
Financial Impact
No material financial impact for Series A preferred. Revenue guidance trending to lower end, but expense management tracking favorably. The $31M pre-tax loss on securities sold is a one-time event with neutral NII and CET1 impact.
Risk Factors
- Revenue trending to lower half of guidance range could pressure common equity returns, though preferred dividend coverage remains intact absent a credit event.
- Merger integration execution risk; the large number of systems decisions and milestones could introduce operational disruption.
- NCO guidance of 0.20%-0.25% on a large loan book could be adversely affected by macroeconomic deterioration.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0002082866-26-000059 |
| Document: a2026msusfinancialsconfe.htm | 0002082866-26-000059 |
| Document: 0002082866-26-000059-index-headers.html | 0002082866-26-000059 |
| Document: 0002082866-26-000059-index.html | 0002082866-26-000059 |
| Document: 0002082866-26-000059.txt | 0002082866-26-000059 |
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Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 10, 2026 22d ago | 8-K | $99.14 $96.77 | ▼ −2.39% | ▼ −1.89% | $95.53 (−3.64%) |
Aug 18, 2026 6w ago | 144 | $104.53 $100.77 | ▲ +3.60% | ▲ +3.40% | $95.53 (+8.61%) |
Aug 14, 2026 6w ago | 144 | $107.35 $101.34 | ▼ −5.60% | ▼ −4.41% | $95.53 (−11.01%) |
Aug 14, 2026 7w ago | 144 | $108.01 $102.26 | ▼ −5.32% | ▼ −3.96% | $95.53 (−11.55%) |
Aug 6, 2026 8w ago | 144 | $104.68 $108.01 | ▲ +3.18% | ▲ +2.78% | $95.53 (−8.74%) |
Jun 8, 2026 16w ago | 8-K | $25.02 $25.15 | ▲ +0.53% | ▼ −1.27% | $95.53 (+281.85%) |
May 19, 2026 19w ago | 8-K | $25.64 $25.69 | ▲ +0.20% | ▼ −1.61% | $95.53 (+272.58%) |
May 14, 2026 20w ago | 8-K | $25.61 $25.66 | ▲ +0.21% | ▼ −0.75% | $95.53 (+273.09%) |
May 12, 2026 20w ago | 8-K | $25.73 $25.68 | ▼ −0.19% | ▼ −0.27% | $95.53 (+271.28%) |
Apr 22, 2026 23w ago | 8-K | $25.76 $25.64 | ▼ −0.47% | ▼ −1.94% | $95.53 (+270.85%) |
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