At a glance
Pinnacle Financial Partners Inc is worth $15.03B, about 25 times its fiscal 2025 earnings. Revenue grew 18.3% to $2.05B in fiscal 2025, with 31.2% kept as profit. It pays a 1.75% dividend yield, and returned $212.4M to shareholders in dividends and buybacks over FY2023–FY2025. The stock returned +17.6% over the past year with dividends reinvested and +1.6% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 49.6% in the 2020 crash (S&P 500: 33.7%) and 37.6% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 9 months and 29 months after the lows.
The business in plain English
Pinnacle Financial Partners is a financial holding company, a parent company that owns a bank: Pinnacle Bank, based in Nashville, Tennessee. As of December 31, 2025, it had 141 offices, led by Tennessee (50), North Carolina (42) and South Carolina (21). On January 1, 2026, it merged with Synovus and folded Synovus Bank into Pinnacle Bank. The combined parent company is headquartered in Atlanta. Total assets went from about $57.7 billion at the end of 2025 to $129.1 billion by June 30, 2026.
It sells loans, deposit accounts, treasury management (cash and payment services for businesses), investments, trust, mortgage and insurance services. Its main customers are businesses, their owners and individuals who want one bank for everything. Its approach is to give the personal service of a community bank and the products of a big bank, mostly in cities across the Southeast. It ranked No. 1 by deposits in the Nashville area as of June 30, 2025. Specialty units lend to law firms (Advocate Capital) and finance equipment (JB&B Capital). Pinnacle Bank also owns 49% of Bankers Healthcare Group, which lends to healthcare practitioners and other professionals.
Most revenue is net interest income: what it earns on loans and investments minus the interest it pays. That was $1.55 billion of $2.05 billion in 2025. Fees and other noninterest income added $506.6 million. The filing gives no clean revenue split by segment or region, and these figures predate the Synovus merger.
Price history
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PNFP +17.6% over the year to Oct 28, 2026, total return with dividends reinvested.
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $1.31B, up 141.2% from a year earlier, and net income was $379.0M (+119.1%).
- For fiscal 2025, revenue was $2.05B (+18.3% year over year) with a 31.2% net margin.
Financial health check
| Return on equity | 9.1% watch |
|---|---|
| Net income / revenue | 31.2% good |
| Deposits | $103.04B |
| Loans | $88.82B |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2023 | $1.70B | $562.2M | — |
| FY2024 | $1.74B | $475.1M | — |
| FY2025 | $2.05B | $641.9M | — |
Valuation snapshot
| Market value | $15.03B |
|---|---|
| P/E ratio | 24.7 |
| Dividend yield | 1.75% |
Rank among 1514 US companies
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| PNFP price data to Oct 28, 2026 | +5.8% | +17.6% | +19.3% | +1.6% | +8.1% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +5.8% |
| 2025 | -15.8% |
| 2024 | +32.5% |
| 2023 | +20.5% |
| 2022 | -22.3% |
| 2021 | +49.5% |
| 2020 | +2.0% |
| 2019 | +40.4% |
| 2018 | -29.8% |
| 2017 | -3.5% |
| 2016 | +36.5% |
| 2015 | +31.2% |
| 2014 | +22.7% |
| 2013 | +73.1% |
| 2012 | +16.7% |
| 2011 | +18.9% |
| 2010 | -4.5% |
| 2009 | -52.3% |
| 2008 | +17.3% |
| 2007 | -23.4% |
| 2006 | +32.8% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 55.3% over that stretch · deepest drop along the way 57.5%, back to its old high 56 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 48.7% over that stretch · deepest drop along the way 49.6%, back to its old high 8.8 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 14.4% over that stretch · deepest drop along the way 37.6%, back to its old high 28.5 months after the low |
Insider activity
Form 4 filings from 2025-11-03 to 2026-11-03 (25 read): 4 open-market purchases ($2.3M) and 4 sales ($19.2M), 4 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Aug 14, 2026 | M Terry Turner Director | sell (plan) | $7.2M |
| Aug 17, 2026 | M Terry Turner Director | sell (plan) | $5.9M |
| Aug 13, 2026 | M Terry Turner Director | sell (plan) | $5.8M |
| Jul 24, 2026 | Robert A Jr Mccabe Chief Banking Officer, Director | buy | $1.0M |
| Oct 28, 2026 | David B Ingram Director | buy | $992K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 10.1% | Jul 31, 2026 |
| Wellington Management Group LLP | 7.4% | Jun 30, 2026 |
| FMR LLC | 6.9% | Jun 30, 2026 |
| Vanguard Capital Management | 5.22% | Mar 31, 2026 |
| AQR Capital Management, LLC | 2.64% | Mar 31, 2026 |
ETFs with the most weight in PNFP
| FDIQ Invesco Bloomberg Financial Data Providers ETF | 3.56% |
| SCAP Infrastructure Capital Small Cap Income ETF | 2.13% |
| KRE SPDR S&P Regional Banking ETF | 2% |
| PFI Invesco Dorsey Wright Financial Momentum ETF | 1.64% |
| IAT iShares U.S. Regional Banks ETF | 1.59% |
| FTXO First Trust Nasdaq Bank ETF | 1.23% |
| DVLU First Trust Dorsey Wright Momentum & Value ETF | 1.08% |
| FFSM Fidelity Fundamental Small-Mid Cap ETF | 0.88% |
What could go wrong
- Synovus merger may not deliver expected benefits. Pinnacle combined with Synovus on January 1, 2026. The company warns that integrating the two banks may cost more or take longer than planned, and that key bankers and managers could leave.
- Large stake in Bankers Healthcare Group. Pinnacle Bank owns 49% of BHG, which lends to healthcare practitioners and other professionals. BHG's results are a meaningful part of Pinnacle's, and trouble selling its loans could significantly hurt earnings.
- Business concentrated in the Southeast. Pinnacle's branches are mainly in southeastern states, and Synovus Bank was a Georgia bank. A regional slowdown, rising unemployment or natural disasters there would hurt it more than a bank spread nationwide.
- Loans to smaller businesses carry more risk. Many commercial loans go to small and medium-sized businesses, which can be less able to withstand hard times. Lending is also concentrated in certain industries, so downturns could bring more bad loans.
- A drop in property values. Pinnacle makes commercial real estate loans, home mortgages and home equity loans. If property prices in its markets fell sharply, the buildings and homes backing those loans would be worth less, and losses could rise.
- Interest rate swings can squeeze profits. Net interest income, what Pinnacle earns on loans and investments minus interest paid, was $1.55 billion of its $2.05 billion revenue in 2025. Rate shifts can squeeze that gap and dent its investment securities.
Recent events
- Quarterly results released; Investor presentation or announcement
- Executive or board change
- Executive or board change; Bylaws or fiscal year changed
- Quarterly results released; Investor presentation or announcement
- Investor presentation or announcement
- Shareholder vote results
- New debt or financial obligation
- Major agreement signed
- Other company announcement
- Quarterly results released; Investor presentation or announcement
For income and retirement investors
Pinnacle's dividend is modest. In 2025 the company paid $74.7 million in dividends, just 11.6% of its $641.9 million in net income. That low payout ratio (the share of profit paid out) leaves a cushion if earnings fall. Dividends per share were roughly flat in 2024 and rose in 2025, a one-year streak of increases. The company bought back no shares from 2023 through 2025. The dividend yield was 1.75% as of October 28, 2026. The 2025 figures predate the Synovus merger.
Pinnacle's shares have fallen hard in past crises. The stock lost about 58% between September 2008 and March 2009 and took about 56 months to regain its peak. It dropped about 50% between February and March 2020, then recovered in about nine months. In 2022 it fell about 38% from January to June and did not recover until November 2024. As a single stock, Pinnacle carries more risk than a diversified fund.
Questions investors ask
How does Pinnacle Financial Partners make money?
Mostly from lending. In 2025, net interest income was $1.55 billion of its $2.05 billion in revenue. That is what Pinnacle earns on loans and investments minus the interest it pays on deposits and borrowings. The other $506.6 million was noninterest income, meaning fees and other income. Pinnacle mainly serves businesses, their owners and individuals in southeastern cities. It also owns 49% of the lender Bankers Healthcare Group. These figures predate its January 1, 2026 merger with Synovus.
Does Pinnacle Financial raise its dividend every year?
No. Dividends per share were roughly flat in 2024 and rose in 2025, which made a one-year streak of increases. The payout was small next to profits: in 2025 Pinnacle paid $74.7 million in dividends, or 11.6% of its $641.9 million net income. The company bought back no shares from 2023 through 2025. The dividend yield was 1.75% as of October 28, 2026. The annual report notes that its ability to pay dividends is limited.
Did Pinnacle Financial merge with Synovus?
Yes. The two companies combined on January 1, 2026, under an agreement signed July 24, 2025. Each Synovus share became 0.5237 shares of the new Pinnacle, and each Pinnacle share became one new share. Synovus Bank was folded into Pinnacle Bank, which stays in Nashville, while the parent company is headquartered in Atlanta. The new stock began trading on the New York Stock Exchange on January 2, 2026. The company warns the integration could prove costlier or slower than planned.
What is Pinnacle's stake in Bankers Healthcare Group?
Pinnacle Bank owns 49% of Bankers Healthcare Group (BHG), which lends to healthcare practitioners and other professionals. The company's annual report says BHG's results are a meaningful portion of Pinnacle's own. That adds earnings beyond traditional banking, but it also concentrates risk. If BHG struggles, including with selling loans through the auction platform it built or holding loans itself, Pinnacle's results could take a significant hit.
How has PNFP stock performed over time?
Unevenly. As of October 28, 2026, the share price was up 117% over 10 years, about 8.1% a year. Over five years it gained only 1.6% a year, and over three years 19.3% a year. Calendar years swing widely, from a 32.5% gain in 2024 to a 15.8% loss in 2025. Its deepest drop in about 21 years of price history was 77.2%, and it fell about 50% in the 2020 COVID crash.