Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) have been given an average recommendation of “Moderate Buy” by the eight analysts that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $95.50.

Several brokerages have recently issued reports on PNFP. JPMorgan Chase & Co. cut their price target on Pinnacle Financial Partners from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Wednesday. UBS Group cut their target price on Pinnacle Financial Partners from $91.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, January 18th. Stephens reissued an “overweight” rating and issued a $109.00 target price on shares of Pinnacle Financial Partners in a research note on Tuesday. Barclays started coverage on Pinnacle Financial Partners in a research note on Friday, March 8th. They issued an “equal weight” rating and a $93.00 target price on the stock. Finally, Hovde Group cut their target price on Pinnacle Financial Partners from $104.00 to $99.00 and set an “outperform” rating on the stock in a research note on Tuesday.

Insider Buying and Selling

In related news, Chairman Richard D. Callicutt II sold 11,030 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $82.22, for a total transaction of $906,886.60. Following the completion of the transaction, the chairman now directly owns 97,226 shares in the company, valued at $7,993,921.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO M Terry Turner sold 24,057 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $82.22, for a total transaction of $1,977,966.54. Following the completion of the transaction, the chief executive officer now directly owns 294,790 shares in the company, valued at $24,237,633.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Richard D. Callicutt II sold 11,030 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $82.22, for a total value of $906,886.60. Following the transaction, the chairman now owns 97,226 shares of the company’s stock, valued at $7,993,921.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,844 shares of company stock worth $3,933,734. 1.87% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PNFP. Rise Advisors LLC bought a new position in Pinnacle Financial Partners in the first quarter valued at approximately $26,000. Emerald Advisers LLC bought a new position in Pinnacle Financial Partners in the third quarter valued at approximately $27,000. Fifth Third Bancorp grew its stake in Pinnacle Financial Partners by 101.4% in the third quarter. Fifth Third Bancorp now owns 423 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 213 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of Pinnacle Financial Partners in the fourth quarter valued at approximately $32,000. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Pinnacle Financial Partners by 57.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 550 shares of the financial services provider’s stock valued at $37,000 after buying an additional 200 shares during the last quarter. 87.40% of the stock is currently owned by institutional investors.

Pinnacle Financial Partners Trading Down 1.5 %

Shares of PNFP opened at $80.29 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. Pinnacle Financial Partners has a 12-month low of $43.31 and a 12-month high of $92.33. The firm has a market capitalization of $6.19 billion, a PE ratio of 11.49 and a beta of 1.08. The stock’s fifty day simple moving average is $82.20 and its 200-day simple moving average is $79.29.

Pinnacle Financial Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 3rd will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, May 2nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.10%. Pinnacle Financial Partners’s payout ratio is presently 12.59%.

About Pinnacle Financial Partners

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.