If you like organic growth stories predicated on out-executing the competition and you’re not as confident that the U.S. is about to see a significant rate tightening cycle, you may want to take a look at Pinnacle Financial Partners (PNFP). Actually, whatever your feelings about rates, this is probably a name you should know if you’re interested in organic growth stories in the bank sector.
Pinnacle continues to build on its tested land-and-expand strategy, targeting attractive growth markets by hiring away established bankers and then following up with strong customer service to gain loan and deposit share in attractive markets. These shares have done okay since my last update, and that performance comes at a time when “growth banks” haven’t been performing as well. With double-digit core earnings growth potential, I believe Pinnacle shares should trade closer to $110 than the current price around $90.
Click the link to continue:
Pinnacle Financial Partners: A Banking Growth Story That's Not Dependent On Rates Or M&A
No comments:
Post a Comment