Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Receives Consensus Rating of “Hold” from Analysts

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) has been given an average rating of “Hold” by the ten analysts that are presently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $114.80.

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Pinnacle Financial Partners from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 1st. Keefe, Bruyette & Woods lowered their price objective on Pinnacle Financial Partners from $125.00 to $95.00 and set a “market perform” rating for the company in a research report on Wednesday. Barclays lowered their price objective on Pinnacle Financial Partners from $140.00 to $125.00 and set an “overweight” rating for the company in a research report on Monday, July 28th. Wall Street Zen upgraded Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Finally, Wells Fargo & Company lowered their price objective on Pinnacle Financial Partners from $125.00 to $110.00 and set an “equal weight” rating for the company in a research report on Friday, July 25th.

Insider Buying and Selling

In other Pinnacle Financial Partners news, Director Thomas C. Farnsworth III bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was acquired at an average price of $84.94 per share, with a total value of $84,940.00. Following the completion of the purchase, the director directly owned 28,277 shares of the company’s stock, valued at approximately $2,401,848.38. This trade represents a 3.67% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Harold R. Carpenter bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The shares were acquired at an average cost of $89.73 per share, with a total value of $89,730.00. Following the purchase, the chief financial officer directly owned 105,050 shares of the company’s stock, valued at $9,426,136.50. This trade represents a 0.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 12,174 shares of company stock valued at $1,047,079 over the last 90 days. Company insiders own 1.46% of the company’s stock.

Institutional Investors Weigh In On Pinnacle Financial Partners

A number of hedge funds have recently added to or reduced their stakes in the company. Utah Retirement Systems grew its stake in Pinnacle Financial Partners by 2.5% in the fourth quarter. Utah Retirement Systems now owns 4,090 shares of the financial services provider’s stock valued at $468,000 after acquiring an additional 100 shares during the period. KLP Kapitalforvaltning AS grew its stake 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 acquiring an additional 100 shares during the period. Sheets Smith Wealth Management grew its stake in Pinnacle Financial Partners by 1.8% in the second quarter. Sheets Smith Wealth Management now owns 5,980 shares of the financial services provider’s stock valued at $660,000 after acquiring an additional 105 shares during the period. Brooklyn Investment Group grew its stake in 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 acquiring an additional 110 shares during the period. Finally, Parallel Advisors LLC grew its stake in Pinnacle Financial Partners by 5.7% in the first quarter. Parallel Advisors LLC now owns 2,143 shares of the financial services provider’s stock valued at $227,000 after acquiring an additional 116 shares during the period. Institutional investors and hedge funds own 87.40% of the company’s stock.

Pinnacle Financial Partners Price Performance

Pinnacle Financial Partners stock opened at $93.42 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $7.25 billion, a PE ratio of 12.39 and a beta of 1.03. Pinnacle Financial Partners has a 12 month low of $81.57 and a 12 month high of $131.91. The stock has a 50-day moving average price of $104.92 and a two-hundred day moving average price of $106.40.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $2.00 EPS for the quarter, beating the consensus estimate of $1.92 by $0.08. Pinnacle Financial Partners had a return on equity of 9.60% and a net margin of 18.69%. The firm had revenue of $504.99 million during the quarter, compared to the consensus estimate of $495.27 million. During the same period last year, the company earned $1.63 earnings per share. The business’s quarterly revenue was up 15.1% on a year-over-year basis. Analysts expect that Pinnacle Financial Partners will post 7.85 EPS for the current year.

Pinnacle Financial Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 1st will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $0.96 annualized dividend and a yield of 1.0%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 12.73%.

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.