Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Receives $94.63 Consensus Target Price from Analysts

Pinnacle Financial Partners, Inc. (NASDAQ:PNFPGet Free Report) has earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $94.63.

PNFP has been the topic of a number of recent research reports. Hovde Group dropped their price objective on Pinnacle Financial Partners from $104.00 to $99.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 23rd. Jefferies Financial Group dropped their price objective on Pinnacle Financial Partners from $88.00 to $85.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. JPMorgan Chase & Co. dropped their price objective on Pinnacle Financial Partners from $110.00 to $108.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. Truist Financial dropped their price objective on Pinnacle Financial Partners from $99.00 to $94.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, Stephens dropped their price objective on Pinnacle Financial Partners from $109.00 to $102.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd.

View Our Latest Stock Report on Pinnacle Financial Partners

Pinnacle Financial Partners Stock Performance

Shares of Pinnacle Financial Partners stock opened at $76.60 on Friday. The firm has a market cap of $5.92 billion, a P/E ratio of 10.96 and a beta of 1.08. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. Pinnacle Financial Partners has a 12 month low of $52.91 and a 12 month high of $92.33. The stock’s fifty day moving average price is $79.55 and its 200-day moving average price is $82.51.

Pinnacle Financial Partners (NASDAQ:PNFPGet Free Report) last announced its quarterly earnings results on Monday, April 22nd. The financial services provider reported $1.53 EPS for the quarter, beating the consensus estimate of $1.52 by $0.01. Pinnacle Financial Partners had a return on equity of 9.31% and a net margin of 18.59%. The firm had revenue of $428.14 million for the quarter, compared to analyst estimates of $413.27 million. On average, equities research analysts expect that Pinnacle Financial Partners will post 6.74 earnings per share for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 3rd were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Thursday, May 2nd. Pinnacle Financial Partners’s dividend payout ratio is presently 12.59%.

Insiders Place Their Bets

In related news, CEO M Terry Turner sold 72,000 shares of Pinnacle Financial Partners stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $80.97, for a total transaction of $5,829,840.00. Following the completion of the sale, the chief executive officer now owns 222,790 shares of the company’s stock, valued at $18,039,306.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Robert A. Mccabe, Jr. sold 115,249 shares of Pinnacle Financial Partners stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $81.04, for a total transaction of $9,339,778.96. Following the completion of the sale, the chairman now owns 153,062 shares of the company’s stock, valued at $12,404,144.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO M Terry Turner sold 72,000 shares of Pinnacle Financial Partners stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $80.97, for a total value of $5,829,840.00. Following the sale, the chief executive officer now directly owns 222,790 shares of the company’s stock, valued at approximately $18,039,306.30. The disclosure for this sale can be found here. Corporate insiders own 1.87% of the company’s stock.

Institutional Investors Weigh In On Pinnacle Financial Partners

A number of institutional investors and hedge funds have recently modified their holdings of PNFP. Pathstone Family Office LLC lifted its holdings in shares of Pinnacle Financial Partners by 44.1% during the third quarter. Pathstone Family Office LLC now owns 5,694 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 1,742 shares during the period. HighTower Advisors LLC raised its position in Pinnacle Financial Partners by 6.6% during the third quarter. HighTower Advisors LLC now owns 9,040 shares of the financial services provider’s stock valued at $608,000 after acquiring an additional 560 shares in the last quarter. UBS Group AG raised its position in Pinnacle Financial Partners by 8.5% during the third quarter. UBS Group AG now owns 36,211 shares of the financial services provider’s stock valued at $2,428,000 after acquiring an additional 2,846 shares in the last quarter. Loomis Sayles & Co. L P raised its position in Pinnacle Financial Partners by 11.3% during the third quarter. Loomis Sayles & Co. L P now owns 218,507 shares of the financial services provider’s stock valued at $14,649,000 after acquiring an additional 22,211 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in Pinnacle Financial Partners during the third quarter valued at approximately $585,000. Institutional investors and hedge funds own 87.40% of the company’s stock.

Pinnacle Financial Partners Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Pinnacle Financial Partners (NASDAQ:PNFP)

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