Pinnacle Financial Partners (NASDAQ:PNFP) Price Target Lowered to $125.00 at Barclays

Pinnacle Financial Partners (NASDAQ:PNFP) had its price objective lowered by Barclays from $135.00 to $125.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

A number of other equities analysts also recently weighed in on the stock. Stephens restated an “overweight” rating and set a $142.00 target price on shares of Pinnacle Financial Partners in a report on Wednesday, January 22nd. JPMorgan Chase & Co. lowered their price objective on shares of Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Wells Fargo & Company upped their target price on shares of Pinnacle Financial Partners from $120.00 to $125.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Citigroup lifted their price target on Pinnacle Financial Partners from $123.00 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, December 31st. Finally, Hovde Group dropped their price objective on Pinnacle Financial Partners from $135.00 to $120.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 2nd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.70.

Pinnacle Financial Partners Trading Down 0.3 %

Shares of NASDAQ:PNFP opened at $87.23 on Tuesday. The company’s 50-day moving average price is $110.15 and its two-hundred day moving average price is $112.16. Pinnacle Financial Partners has a one year low of $73.62 and a one year high of $131.91. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $6.75 billion, a PE ratio of 14.59 and a beta of 0.94.

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

Pinnacle Financial Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 7th were paid a $0.24 dividend. The ex-dividend date was Friday, February 7th. This is an increase from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 1.10%. Pinnacle Financial Partners’s payout ratio is 16.05%.

Insiders Place Their Bets

In related news, Director David B. Ingram sold 40,000 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $126.50, for a total value of $5,060,000.00. Following the transaction, the director now directly owns 40,991 shares in the company, valued at approximately $5,185,361.50. This represents a 49.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO M Terry Turner sold 2,000 shares of Pinnacle Financial Partners stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $100.63, for a total transaction of $201,260.00. Following the completion of the sale, the chief executive officer now owns 254,552 shares of the company’s stock, valued at $25,615,567.76. This trade represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,350 shares of company stock worth $11,421,320 in the last 90 days. Company insiders own 1.46% of the company’s stock.

Institutional Investors Weigh In On Pinnacle Financial Partners

Institutional investors have recently made changes to their positions in the stock. Quantinno Capital Management LP lifted its position in shares of Pinnacle Financial Partners by 41.5% during the 3rd quarter. Quantinno Capital Management LP now owns 17,842 shares of the financial services provider’s stock valued at $1,748,000 after acquiring an additional 5,236 shares during the period. Barclays PLC raised its stake in Pinnacle Financial Partners by 117.0% in the third quarter. Barclays PLC now owns 167,838 shares of the financial services provider’s stock valued at $16,442,000 after purchasing an additional 90,478 shares in the last quarter. Geode Capital Management LLC raised its stake in Pinnacle Financial Partners by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,328,564 shares of the financial services provider’s stock valued at $130,192,000 after purchasing an additional 8,604 shares in the last quarter. Sanctuary Advisors LLC lifted its position in Pinnacle Financial Partners by 585.1% during the third quarter. Sanctuary Advisors LLC now owns 27,465 shares of the financial services provider’s stock worth $2,691,000 after purchasing an additional 23,456 shares during the period. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in Pinnacle Financial Partners during the third quarter worth about $229,000. 87.40% of the stock is currently owned by institutional investors.

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.