Pinnacle Financial Partners (NYSE:PNFP) Upgraded to Buy at UBS Group

UBS Group upgraded shares of Pinnacle Financial Partners (NYSE:PNFP) from a neutral rating to a buy rating in a research report report published on Tuesday, MarketBeat.com reports. The brokerage currently has $110.00 price objective on the stock, up from their previous price objective of $106.00.

PNFP has been the topic of a number of other reports. Bank of America initiated coverage on Pinnacle Financial Partners in a research note on Monday, December 8th. They issued a “buy” rating and a $113.00 target price on the stock. TD Cowen restated a “buy” rating on shares of Pinnacle Financial Partners in a research note on Wednesday, January 7th. Evercore restated an “outperform” rating on shares of Pinnacle Financial Partners in a research note on Thursday, February 5th. Citigroup upped their target price on Pinnacle Financial Partners from $118.00 to $122.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Finally, Wall Street Zen upgraded Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Friday, April 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Pinnacle Financial Partners presently has an average rating of “Moderate Buy” and an average price target of $112.18.

Pinnacle Financial Partners Stock Down 0.0%

Pinnacle Financial Partners stock opened at $88.22 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market cap of $6.84 billion, a P/E ratio of 10.90, a PEG ratio of 0.40 and a beta of 1.00. Pinnacle Financial Partners has a 1-year low of $81.08 and a 1-year high of $120.46.

Pinnacle Financial Partners Announces Dividend

The company also recently disclosed a dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 6th were given a dividend of $0.50 per share. The ex-dividend date was Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio is 24.72%.

Insider Activity at Pinnacle Financial Partners

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

Hedge Funds Weigh In On Pinnacle Financial Partners

Institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Pinnacle Financial Partners by 1.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 7,377 shares of the company’s stock valued at $704,000 after purchasing an additional 116 shares during the last quarter. Villanova Investment Management Co LLC grew its holdings in shares of Pinnacle Financial Partners by 0.4% during the 4th quarter. Villanova Investment Management Co LLC now owns 28,511 shares of the company’s stock valued at $2,720,000 after purchasing an additional 118 shares during the last quarter. EJF Capital LLC grew its holdings in shares of Pinnacle Financial Partners by 2.5% during the 2nd quarter. EJF Capital LLC now owns 5,138 shares of the company’s stock valued at $567,000 after purchasing an additional 127 shares during the last quarter. Profund Advisors LLC grew its holdings in shares of Pinnacle Financial Partners by 4.6% during the 3rd quarter. Profund Advisors LLC now owns 2,895 shares of the company’s stock valued at $272,000 after purchasing an additional 127 shares during the last quarter. Finally, Diversified Trust Co. grew its holdings in shares of Pinnacle Financial Partners by 0.3% during the 4th quarter. Diversified Trust Co. now owns 54,349 shares of the company’s stock valued at $5,185,000 after purchasing an additional 137 shares during the last quarter. 87.40% of the stock is currently 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.