Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Receives Consensus Rating of “Moderate Buy” from Brokerages

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) has received an average recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $121.27.

A number of brokerages have recently weighed in on PNFP. Barclays cut their price objective on Pinnacle Financial Partners from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Hovde Group raised shares of Pinnacle Financial Partners from a “market perform” rating to an “outperform” rating and set a $111.00 price target for the company in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods decreased their price objective on shares of Pinnacle Financial Partners from $130.00 to $115.00 and set a “market perform” rating for the company in a research note on Thursday, April 17th. Jefferies Financial Group began coverage on shares of Pinnacle Financial Partners in a research note on Wednesday, May 21st. They issued a “buy” rating and a $135.00 price objective on the stock. Finally, JPMorgan Chase & Co. decreased their target price on shares of Pinnacle Financial Partners from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th.

Pinnacle Financial Partners Trading Down 1.5%

NASDAQ PNFP opened at $106.87 on Thursday. Pinnacle Financial Partners has a 12-month low of $75.63 and a 12-month high of $131.91. The company has a fifty day simple moving average of $105.00 and a two-hundred day simple moving average of $109.45. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. The stock has a market cap of $8.29 billion, a P/E ratio of 17.29 and a beta of 1.02.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its earnings results on Monday, April 14th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.08. Pinnacle Financial Partners had a return on equity of 9.29% and a net margin of 15.98%. The firm had revenue of $475.37 million for the quarter, compared to the consensus estimate of $478.11 million. During the same period in the prior year, the firm earned $1.53 EPS. On average, analysts forecast that Pinnacle Financial Partners will post 7.85 earnings per share for the current year.

Pinnacle Financial Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 2nd were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend was Friday, May 2nd. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 15.53%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PNFP. Principal Securities Inc. boosted its stake in shares of Pinnacle Financial Partners by 12.7% during the 4th quarter. Principal Securities Inc. now owns 808 shares of the financial services provider’s stock worth $92,000 after acquiring an additional 91 shares in the last quarter. Sage Mountain Advisors LLC boosted its position in Pinnacle Financial Partners by 0.3% during the fourth quarter. Sage Mountain Advisors LLC now owns 36,198 shares of the financial services provider’s stock worth $4,141,000 after purchasing an additional 99 shares in the last quarter. Utah Retirement Systems boosted its position in Pinnacle Financial Partners by 2.5% during the fourth quarter. Utah Retirement Systems now owns 4,090 shares of the financial services provider’s stock worth $468,000 after purchasing an additional 100 shares in the last quarter. KLP Kapitalforvaltning AS grew its holdings in Pinnacle Financial Partners by 0.6% in the first quarter. KLP Kapitalforvaltning AS now owns 15,800 shares of the financial services provider’s stock valued at $1,675,000 after purchasing an additional 100 shares during the period. Finally, Brooklyn Investment Group increased its position in shares of Pinnacle Financial Partners by 15.3% in the first quarter. Brooklyn Investment Group now owns 827 shares of the financial services provider’s stock valued at $88,000 after buying an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.