Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Receives $125.18 Average Target Price from Analysts

Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) have received a consensus recommendation of “Hold” from the eleven ratings firms that are covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $125.18.

A number of research firms have weighed in on PNFP. Stephens reissued an “overweight” rating and set a $142.00 target price on shares of Pinnacle Financial Partners in a research report on Wednesday, January 22nd. Hovde Group lowered shares of Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $135.00 target price for the company. in a research report on Monday, November 18th. Wells Fargo & Company boosted their target price on shares of Pinnacle Financial Partners from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $135.00 target price (up previously from $115.00) on shares of Pinnacle Financial Partners in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. cut their target price on shares of Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th.

Insider Activity at Pinnacle Financial Partners

In related news, Chairman Robert A. Mccabe, Jr. sold 50,000 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $124.09, for a total value of $6,204,500.00. Following the sale, the chairman now owns 123,000 shares of the company’s stock, valued at $15,263,070. The trade was a 28.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David B. Ingram sold 40,000 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $126.50, for a total transaction of $5,060,000.00. Following the sale, the director now directly owns 40,991 shares in the company, valued at $5,185,361.50. This represents a 49.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 126,970 shares of company stock valued at $15,922,061 over the last quarter. 1.87% of the stock is owned by company insiders.

Institutional Trading of Pinnacle Financial Partners

Large investors have recently added to or reduced their stakes in the company. Creative Planning lifted its position in shares of Pinnacle Financial Partners by 9.4% during the third quarter. Creative Planning now owns 18,710 shares of the financial services provider’s stock worth $1,833,000 after purchasing an additional 1,614 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Pinnacle Financial Partners by 10.6% during the third quarter. Blue Trust Inc. now owns 1,315 shares of the financial services provider’s stock worth $129,000 after purchasing an additional 126 shares in the last quarter. Raymond James & Associates lifted its position in shares of Pinnacle Financial Partners by 2.5% during the third quarter. Raymond James & Associates now owns 208,850 shares of the financial services provider’s stock worth $20,461,000 after purchasing an additional 5,134 shares in the last quarter. Signaturefd LLC lifted its position in shares of Pinnacle Financial Partners by 4.4% during the third quarter. Signaturefd LLC now owns 5,190 shares of the financial services provider’s stock worth $508,000 after purchasing an additional 218 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Pinnacle Financial Partners by 9,804.4% during the third quarter. International Assets Investment Management LLC now owns 36,151 shares of the financial services provider’s stock worth $3,542,000 after purchasing an additional 35,786 shares in the last quarter. 87.40% of the stock is owned by institutional investors.

Pinnacle Financial Partners Stock Down 3.4 %

PNFP stock opened at $114.21 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.37. Pinnacle Financial Partners has a 1 year low of $73.62 and a 1 year high of $131.91. The company has a fifty day simple moving average of $118.61 and a 200 day simple moving average of $110.01. The firm has a market cap of $8.82 billion, a PE ratio of 19.10 and a beta of 1.09.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its earnings results on Tuesday, January 21st. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.10. The firm had revenue of $475.34 million during the quarter, compared to analyst estimates of $470.33 million. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. The business’s revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.68 EPS. Sell-side analysts anticipate that Pinnacle Financial Partners will post 7.85 EPS for the current fiscal year.

Pinnacle Financial Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 7th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.96 dividend on an annualized basis and a yield of 0.84%. This is a boost from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. Pinnacle Financial Partners’s payout ratio is presently 16.05%.

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.