Pinnacle Financial Is Seeing Some Challenges, But Entering Atlanta Is A Major Opportunity

This has been a challenging quarter for many banks, and Pinnacle Financial Partners (PNFP). While the fourth quarter financial results were less than I was hoping for, there were still a lot of positives in the quarter and I remain bullish on the company’s long-term prospects. Management’s recent announcement that it is launching a de novo growth strategy in Atlanta is just one step on that long-term road, and one that I believe will ultimately go well for the company.

The shares have been lackluster performers since my last update (up slightly and down a bit versus broader bank indices), but I continue to see value below the mid-to-high $60’s.

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Pinnacle Financial Is Seeing Some Challenges, But Entering Atlanta Is A Major Opportunity