The EPS and revenue miss vs consensus, combined with rising expenses and provision, is a negative read-through for the near term. However, maintained guidance and strong organic growth (8% annualized loan/core deposit growth) provide a floor. Watch the Oct 22 earnings call for color on expense trajectory and NIM outlook for Q4.
Price Chart
Executive Summary
Pinnacle Financial Partners reported Q3 2026 GAAP diluted EPS of $2.40 (adjusted $2.69), missing the consensus estimate of $2.73 by 1.5%. Revenue of $1.312B also fell short of the $1.33B consensus. The miss was driven by higher-than-expected non-interest expense ($749M) and a provision build of $86M, partially offset by strong loan/deposit growth and BHG investment income. Guidance for FY2026 was maintained, with adjusted revenue TE trending above the midpoint of the $5.00B-$5.20B range.
Key Financial Metrics
Key Facts
- GAAP diluted EPS of $2.40 vs $2.19 YoY; adjusted diluted EPS of $2.69 vs $2.27 YoY
- Adjusted EPS of $2.69 missed consensus of $2.73 by 1.5%
- Total revenue of $1.312B missed consensus of $1.33B
- Net interest income grew 3% QoQ to $986M; NIM declined 4 bps to 3.40%
- Non-interest expense of $749M, up 4% QoQ; adjusted expense of $690M
- Provision for credit losses of $86M, up 36% QoQ; ACL ratio 1.19%
- Period-end loans of $89.8B, up 2% QoQ; deposits of $103.0B, up 2% QoQ
- CET1 ratio improved to 10.01% from 9.93% QoQ
- FY2026 guidance maintained: adjusted revenue TE $5.00B-$5.20B, adjusted non-interest expense $2.675B-$2.775B
- 96 revenue producers hired in Q3; YTD total of 222
Financial Impact
Adjusted EPS miss of ~1.5% vs consensus; revenue miss of ~1.4% vs consensus; maintained guidance suggests no fundamental deterioration but the miss vs expectations is a negative surprise
Risk Factors
- Higher-than-expected non-interest expense trajectory if hiring and incentive accruals continue to accelerate
- NIM compression from rising deposit costs and wholesale-funded liquidity build could pressure NII growth
- Credit deterioration from a more adverse macroeconomic outlook could drive further provision builds
- Merger integration costs and potential delays in realizing cost synergies
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0002082866-26-000087 |
| Document: pnfp_09302026xex992filin.htm | 0002082866-26-000087 |
| Document: pnfp-20261021.htm | 0002082866-26-000087 |
| Document: 0002082866-26-000087-index-headers.html | 0002082866-26-000087 |
| Document: 0002082866-26-000087-index.html | 0002082866-26-000087 |
| Document: 0002082866-26-000087.txt | 0002082866-26-000087 |
| 8-K Data (Synthetic) | 0002082866-26-000087 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 5d ago | 8-K | $98.21 $100.46 | ▼ −2.29% | ▼ −3.47% | $99.85 (−1.67%) |
Oct 15, 2026 12d ago | Court Ruling | $94.72 $93.90 | ▼ −0.87% | ▼ −1.29% | $99.85 (+5.42%) |
Oct 11, 2026 16d ago | Court Ruling | $94.51 $93.53 | ▼ −1.04% | ▼ −1.03% | $99.85 (+5.65%) |
Sep 10, 2026 6w ago | 8-K | $99.14 $99.27 | ▲ +0.13% | ▼ −0.72% | $99.85 (+0.72%) |
Aug 17, 2026 10w ago | 144 | $104.53 $101.67 | ▲ +2.74% | ▲ +2.95% | $99.85 (+4.48%) |
Aug 14, 2026 10w ago | 144 | $107.35 $104.53 | ▼ −2.63% | ▼ −1.95% | $99.85 (−6.99%) |
Aug 14, 2026 10w ago | 144 | $108.01 $107.35 | ▼ −0.61% | ▼ −0.14% | $99.85 (−7.55%) |
Aug 6, 2026 11w ago | 144 | $104.68 $104.55 | ▼ −0.12% | ▼ −0.09% | $99.85 (−4.61%) |
Jun 8, 2026 20w ago | 8-K | $25.02 $24.88 | ▼ −0.55% | ▲ +1.03% | $99.85 (+299.12%) |
May 19, 2026 22w ago | 8-K | $25.64 $25.70 | ▲ +0.23% | ▲ +0.04% | $99.85 (+289.43%) |
US Market Status
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