Pinnacle Financial Partners (NASDAQ:PNFP) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Pinnacle Financial Partners (NASDAQ:PNFP) had its target price lifted by research analysts at Keefe, Bruyette & Woods from $115.00 to $130.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 11.07% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Truist Financial reaffirmed a “buy” rating and set a $127.00 target price (up previously from $123.00) on shares of Pinnacle Financial Partners in a research note on Friday, July 11th. Barclays upped their price objective on shares of Pinnacle Financial Partners from $125.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. Wells Fargo & Company lifted their target price on shares of Pinnacle Financial Partners from $105.00 to $125.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. boosted their price target on shares of Pinnacle Financial Partners from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. Finally, Jefferies Financial Group started coverage on Pinnacle Financial Partners in a report on Wednesday, May 21st. They set a “buy” rating and a $135.00 price objective for the company. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Pinnacle Financial Partners has an average rating of “Moderate Buy” and a consensus target price of $129.60.

Pinnacle Financial Partners Stock Down 1.5%

Shares of NASDAQ:PNFP opened at $117.04 on Thursday. The firm has a 50 day simple moving average of $110.15 and a 200 day simple moving average of $109.47. Pinnacle Financial Partners has a 52 week low of $81.57 and a 52 week high of $131.91. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market cap of $9.08 billion, a PE ratio of 15.52 and a beta of 1.01.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PNFP. 1248 Management LLC bought a new stake in Pinnacle Financial Partners during the first quarter valued at about $29,000. Golden State Wealth Management LLC bought a new stake in Pinnacle Financial Partners during the 1st quarter valued at approximately $48,000. SVB Wealth LLC acquired a new stake in Pinnacle Financial Partners in the 1st quarter valued at approximately $51,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Pinnacle Financial Partners in the 1st quarter worth approximately $57,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Pinnacle Financial Partners during the fourth quarter worth approximately $78,000. 87.40% of the stock is currently owned by institutional investors and hedge funds.

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.