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Stock Market & Financial Investment News

News Breaks
January 22, 2014
11:56 EDTPNFPPinnacle Financial upgraded to Outperform from Market Perform at Keefe Bruyette
Keefe Bruyette upgraded Pinnacle Financial citing the strong Q4 report. Price target raised to $40 from $30.
News For PNFP From The Last 14 Days
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August 3, 2015
08:21 EDTPNFPPinnacle completes CapitalMark merger
Pinnacle Financial Partners announced that on July 31, 2015, it completed its previously announced merger with CapitalMark Bank & Trust. The acquisition, which was first announced on April 7, 2015, was concluded following the receipt of shareholder approval from CapitalMark’s shareholders and receipt of all required regulatory approvals. Based on financial information as of June 30, 2015, on a pro forma basis, the combined company has total assets of $7.6B with 37 offices in 12 Tennessee counties. Upon closing, CapitalMark director Charles E. Brock, president and CEO of Launch Tennessee, was appointed to Pinnacle’s board. CapitalMark will operate as a division of Pinnacle Bank until March 2016 when both firms anticipate combining their operations. CapitalMark clients should continue to bank with CapitalMark as they always have, using their existing checks, ATM/debit cards, payment coupons, etc. until the operational conversion in March 2016.
July 31, 2015
16:22 EDTPNFPMagna Bank shareholders approve proposed merger with Pinnacle Bank
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July 27, 2015
11:41 EDTPNFPPinnacle Financial downgraded to Market Perform from Outperform at Fig Partners
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July 24, 2015
10:48 EDTPNFPCapitalMark Bank shareholders approve combination with Pinnacle Bank
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July 23, 2015
10:00 EDTPNFPOn The Fly: Analyst Downgrade Summary
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05:32 EDTPNFPPinnacle Financial downgraded to Market Perform at Keefe Bruyette
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July 22, 2015
14:31 EDTPNFPPinnacle Financial downgraded to Sector Perform from Outperform at Portales
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July 21, 2015
17:34 EDTPNFPPinnacle Financial expects growth to continue post Q3 merger
Company said “We continue to believe our organic growth model will provide us the necessary volumes to maintain our track record of quarter-over-quarter revenue growth during what we hope to be a relatively short time period before the long-awaited rising rate environment. Ongoing organic growth will be the foundation of our business model in our targeted four Tennessee markets. The integration of CapitalMark and Magna are on track for a Q3 merger close. Both franchises are growing their revenue base currently, and we fully expect their growth to continue post-merger. We believe being able to grow a banking franchise in the midst of a merger is unusual and a testament to the quality of the personnel and leadership at both of these franchises.”
17:33 EDTPNFPPinnacle Financial reports Q2 provision for loan losses $1.2M
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17:31 EDTPNFPPinnacle Financial reports Q2 EPS 64c, consensus 62c
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