Pinnacle Financial Partners, Inc. (NYSE:PNFP) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) have earned an average rating of “Moderate Buy” from the nineteen brokerages that are presently covering the stock, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $113.4118.

Several brokerages recently commented on PNFP. Barclays lifted their price objective on Pinnacle Financial Partners from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. TD Cowen reissued a “buy” rating on shares of Pinnacle Financial Partners in a report on Wednesday, January 7th. UBS Group set a $106.00 target price on Pinnacle Financial Partners in a research report on Wednesday, February 4th. Keefe, Bruyette & Woods boosted their price target on Pinnacle Financial Partners from $95.00 to $100.00 and gave the company a “market perform” rating in a research note on Friday, January 9th. Finally, Wall Street Zen lowered shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research report on Thursday.

Pinnacle Financial Partners Stock Down 2.1%

NYSE:PNFP opened at $82.94 on Friday. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of 10.25, a P/E/G ratio of 0.38 and a beta of 1.02. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.32. Pinnacle Financial Partners has a 12 month low of $81.08 and a 12 month high of $120.46.

Pinnacle Financial Partners Announces Dividend

The firm also recently announced a dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 6th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio is currently 24.72%.

Insiders Place Their Bets

In other Pinnacle Financial Partners news, CFO Andrew J. Jr. Gregory purchased 1,000 shares of the company’s stock in a transaction dated Thursday, February 12th. The shares were acquired at an average price of $94.52 per share, for a total transaction of $94,520.00. Following the purchase, the chief financial officer directly owned 49,485 shares of the company’s stock, valued at $4,677,322.20. The trade was a 2.06% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.46% of the company’s stock.

Hedge Funds Weigh In On Pinnacle Financial Partners

Institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its position in Pinnacle Financial Partners by 6.2% during the first quarter. Goldman Sachs Group Inc. now owns 651,268 shares of the company’s stock valued at $69,060,000 after purchasing an additional 37,989 shares in the last quarter. Focus Partners Wealth grew its holdings in Pinnacle Financial Partners by 13.9% during the first quarter. Focus Partners Wealth now owns 4,755 shares of the company’s stock valued at $504,000 after purchasing an additional 581 shares during the period. Cetera Investment Advisers increased its position in Pinnacle Financial Partners by 3.3% in the second quarter. Cetera Investment Advisers now owns 17,271 shares of the company’s stock worth $1,907,000 after buying an additional 546 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Pinnacle Financial Partners by 0.5% in the second quarter. JPMorgan Chase & Co. now owns 652,562 shares of the company’s stock worth $72,049,000 after buying an additional 3,441 shares during the period. Finally, MAI Capital Management raised its stake in shares of Pinnacle Financial Partners by 79.4% in the second quarter. MAI Capital Management now owns 366 shares of the company’s stock worth $40,000 after buying an additional 162 shares during the period. 87.40% of the stock is owned by institutional investors.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners (NYSE: PNFP) is a bank holding company headquartered in Nashville, Tennessee, that provides a broad range of commercial and consumer banking services. Founded in 2000, the company operates through a network of banking offices and digital channels to serve individuals, small and middle-market businesses, and institutional clients. Pinnacle’s business model emphasizes relationship-based banking and tailored financial solutions for commercial borrowers and deposit customers.

The company’s product and service offerings include commercial and residential lending, treasury and payment solutions, deposit accounts, mortgage services, and cash management.