Pinnacle Financial Partners (NYSE:PNFP) Upgraded to Hold at Wall Street Zen

Pinnacle Financial Partners (NYSE:PNFP) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Friday.

Other analysts also recently issued research reports about the stock. Barclays increased their target price on shares of Pinnacle Financial Partners from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Piper Sandler upped their price objective on shares of Pinnacle Financial Partners from $120.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Weiss Ratings assumed coverage on shares of Pinnacle Financial Partners in a research report on Monday, March 9th. They set a “hold (c+)” rating for the company. Keefe, Bruyette & Woods lifted their target price on shares of Pinnacle Financial Partners from $95.00 to $100.00 and gave the stock a “market perform” rating in a research note on Friday, January 9th. Finally, Evercore restated an “outperform” rating on shares of Pinnacle Financial Partners in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $112.24.

Pinnacle Financial Partners Price Performance

Shares of PNFP stock opened at $87.57 on Friday. Pinnacle Financial Partners has a 1-year low of $81.08 and a 1-year high of $120.46. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $6.79 billion, a PE ratio of 10.82, a P/E/G ratio of 0.40 and a beta of 1.00.

Insider Buying and Selling at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, CFO Andrew J. Jr. Gregory acquired 1,000 shares of Pinnacle Financial Partners stock in a transaction dated Thursday, February 12th. The stock was purchased at an average cost of $94.52 per share, for a total transaction of $94,520.00. Following the completion of the acquisition, the chief financial officer directly owned 49,485 shares of the company’s stock, valued at $4,677,322.20. This represents a 2.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.46% of the company’s stock.

Institutional Trading of Pinnacle Financial Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its position in shares of 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 buying an additional 37,989 shares during the last quarter. Focus Partners Wealth lifted its stake in Pinnacle Financial Partners by 13.9% during the 1st quarter. Focus Partners Wealth now owns 4,755 shares of the company’s stock valued at $504,000 after acquiring an additional 581 shares in the last quarter. Quantbot Technologies LP bought a new position in Pinnacle Financial Partners during the 2nd quarter valued at $524,000. EverSource Wealth Advisors LLC grew its stake in shares of Pinnacle Financial Partners by 2.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 18,730 shares of the company’s stock worth $2,068,000 after acquiring an additional 459 shares in the last quarter. Finally, M Holdings Securities Inc. bought a new stake in shares of Pinnacle Financial Partners in the 2nd quarter worth $5,835,000. 87.40% of the stock is owned by institutional investors.

About Pinnacle Financial Partners

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.