Pinnacle Financial Partners (NASDAQ:PNFP) Downgraded by StockNews.com to Sell

Pinnacle Financial Partners (NASDAQ:PNFP – Get Rating) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

A number of other equities analysts have also recently weighed in on the company. Wells Fargo & Company lowered their price target on Pinnacle Financial Partners from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, December 15th. Raymond James lowered shares of Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 6th. JPMorgan Chase & Co. reduced their price target on shares of Pinnacle Financial Partners from $95.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 13th. Finally, Truist Financial lowered their price objective on shares of Pinnacle Financial Partners from $96.00 to $90.00 in a research report on Friday, December 9th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $85.57.

Pinnacle Financial Partners Trading Up 3.2 %

Shares of Pinnacle Financial Partners stock opened at $72.53 on Friday. The stock has a 50 day moving average of $76.25 and a 200 day moving average of $79.41. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market capitalization of $5.55 billion, a price-to-earnings ratio of 10.17 and a beta of 1.08. Pinnacle Financial Partners has a fifty-two week low of $67.86 and a fifty-two week high of $106.14.

Insider Buying and Selling at Pinnacle Financial Partners

In other news, Director Gregory L. Burns sold 2,000 shares of the stock in a transaction on Monday, October 31st. The stock was sold at an average price of $83.06, for a total value of $166,120.00. Following the sale, the director now directly owns 22,518 shares in the company, valued at $1,870,345.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Pinnacle Financial Partners

Hedge funds have recently added to or reduced their stakes in the company. First Personal Financial Services acquired a new position in Pinnacle Financial Partners during the 3rd quarter worth approximately $35,000. CoreCap Advisors LLC purchased a new stake in shares of Pinnacle Financial Partners during the 2nd quarter worth $37,000. Pinebridge Investments L.P. grew its stake in shares of Pinnacle Financial Partners by 470.0% during the second quarter. Pinebridge Investments L.P. now owns 570 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 470 shares in the last quarter. Wipfli Financial Advisors LLC purchased a new position in Pinnacle Financial Partners in the third quarter valued at $45,000. Finally, Spire Wealth Management acquired a new stake in Pinnacle Financial Partners in the second quarter valued at $51,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Pinnacle Financial Partners Company Profile

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Pinnacle Financial Partners, Inc is a bank holding company, which engages in the provision of financial solutions. It offers banking, investment, trust, mortgage, and insurance products and services designed for businesses and individuals. The company was founded by Dale W. Polley, M. Terry Turner, Sue G.