Pinnacle Financial Partners Leads Regional Banks with 139% Revenue Growth

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Summary · why it matters

Pinnacle Financial Partners reported second-quarter revenues of $1.24 billion, up 139% year over year, the fastest growth among the 95 regional banks tracked. The result was in line with analysts' expectations, though the company slightly missed net interest income estimates and narrowly beat EPS estimates. OFG Bancorp posted revenues of $190.3 million, up 4.3% year over year and beating expectations by 3.9%, while Banc of California reported revenues of $285.7 million, up 4.7% but falling short of expectations by 3.1%. QCR Holdings and SouthState also reported results, with revenues of $107.2 million and $672.7 million respectively. Regional bank stocks have risen 2.4% on average since the latest earnings results.

Impact on assets 5

Financials± Mixed
OFG Bancorp
OFG
▲ PositiveCapitalrelevance

Revenue beat expectations by 3.9%