Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Given Consensus Recommendation of “Hold” by Analysts

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) has received a consensus recommendation of “Hold” from the thirteen brokerages that are currently covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $110.2727.

Several analysts have recently commented on PNFP shares. Wall Street Zen raised Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Stephens decreased their target price on Pinnacle Financial Partners from $104.00 to $97.00 and set an “equal weight” rating for the company in a research report on Friday, October 17th. Wells Fargo & Company decreased their target price on Pinnacle Financial Partners from $110.00 to $100.00 and set an “equal weight” rating for the company in a research report on Friday, October 17th. Truist Financial cut their price objective on Pinnacle Financial Partners from $107.00 to $105.00 and set a “buy” rating for the company in a report on Friday, October 17th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Pinnacle Financial Partners in a research report on Wednesday, October 8th.

Insider Activity at Pinnacle Financial Partners

In other news, Director G Kennedy Thompson acquired 5,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Monday, October 20th. The stock was purchased at an average price of $87.63 per share, with a total value of $438,150.00. Following the completion of the transaction, the director owned 33,372 shares in the company, valued at approximately $2,924,388.36. This trade represents a 17.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas C. Farnsworth III acquired 1,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Friday, August 1st. The shares were purchased at an average cost of $84.94 per share, with a total value of $84,940.00. Following the transaction, the director owned 28,277 shares of the company’s stock, valued at approximately $2,401,848.38. The trade was a 3.67% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 17,000 shares of company stock valued at $1,469,320. Insiders own 1.46% of the company’s stock.

Hedge Funds Weigh In On Pinnacle Financial Partners

Several institutional investors have recently bought and sold shares of the stock. KLP Kapitalforvaltning AS raised its holdings in Pinnacle Financial Partners by 0.6% during the first quarter. KLP Kapitalforvaltning AS now owns 15,800 shares of the financial services provider’s stock valued at $1,675,000 after buying an additional 100 shares in the last quarter. Sheets Smith Wealth Management raised its holdings in Pinnacle Financial Partners by 1.8% during the second quarter. Sheets Smith Wealth Management now owns 5,980 shares of the financial services provider’s stock valued at $660,000 after buying an additional 105 shares in the last quarter. Brooklyn Investment Group raised its holdings in Pinnacle Financial Partners by 15.3% during the first quarter. Brooklyn Investment Group now owns 827 shares of the financial services provider’s stock valued at $88,000 after buying an additional 110 shares in the last quarter. Park Avenue Securities LLC raised its holdings in Pinnacle Financial Partners by 1.5% during the second quarter. Park Avenue Securities LLC now owns 8,177 shares of the financial services provider’s stock valued at $903,000 after buying an additional 121 shares in the last quarter. Finally, EJF Capital LLC raised its holdings in Pinnacle Financial Partners by 2.5% during the second quarter. EJF Capital LLC now owns 5,138 shares of the financial services provider’s stock valued at $567,000 after buying an additional 127 shares in the last quarter. 87.40% of the stock is currently owned by institutional investors.

Pinnacle Financial Partners Stock Performance

Shares of Pinnacle Financial Partners stock opened at $86.07 on Wednesday. The stock has a market cap of $6.68 billion, a PE ratio of 10.94 and a beta of 1.02. The business has a fifty day simple moving average of $93.53 and a 200-day simple moving average of $100.30. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.33. Pinnacle Financial Partners has a 12 month low of $81.57 and a 12 month high of $131.91.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its earnings results on Wednesday, October 15th. The financial services provider reported $2.27 EPS for the quarter, topping the consensus estimate of $2.05 by $0.22. The business had revenue of $544.80 million during the quarter, compared to analysts’ expectations of $526.40 million. Pinnacle Financial Partners had a return on equity of 9.91% and a net margin of 19.17%.During the same quarter last year, the firm posted $1.86 earnings per share. On average, sell-side analysts anticipate that Pinnacle Financial Partners will post 7.85 EPS for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 7th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $0.96 dividend on an annualized basis and a yield of 1.1%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 12.20%.

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.