NASHVILLE, Tenn. (AP) _ Pinnacle Financial Partners Inc. (PNFP) on Monday reported first-quarter earnings of $94 million.
The Nashville, Tennessee-based bank said it had earnings of $1.22 per share. Earnings, adjusted for one-time gains and costs, came to $1.24 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share.
The regional bank operator posted revenue of $308.9 million in the period. Its revenue net of interest expense was $238.3 million, which missed Street forecasts. Five analysts surveyed by Zacks expected $244.6 million.
Pinnacle Financial shares have climbed 20 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $55.51, a decrease of 13 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PNFP at https://www.zacks.com/ap/PNFP
Automated Insights, source Associated Press News