Pinnacle among Southeast's top bank stocks in 2013
Pinnacle Financial Partners Inc. (Nasdaq: PNFP) was among the best-performing publicly traded financial stocks in the Southeast for 2013, according to data collected by SNL Financial and Banks Street Partners.
Shares in Pinnacle rose 73.6 percent over the past year -- from $18.84 last December to a closing price of $31.71 Monday. That was the sixth-highest price change among Southeastern banks with market capitalizations greater than $50 million, data from SNL Financial and Banks Street Partners show. Pinnacle has a market cap of $1.15 billion.
The Nashville-based bank outperformed the S&P 500, Dow Jones Industrial and Nasdaq stock indexes in 2013.
Pinnacle's stock also outpaced its national and regional peers in 2013. According to SNL data, financial stocks in the Southeast rose 33.7 percent, while banks and thrifts throughout the U.S. increased 33.9 percent. Banks in the Southeast include those headquartered in Alabama, Florida, Georgia, North Carolina, South Carolina, Tennessee and Virginia.