Wall Street Zen Upgrades Pinnacle Financial Partners (NYSE:PNFP) to “Hold”

Pinnacle Financial Partners (NYSE:PNFP) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Several other equities analysts have also commented on PNFP. UBS Group set a $106.00 price objective on shares of Pinnacle Financial Partners in a research report on Wednesday, February 4th. Truist Financial set a $100.00 target price on shares of Pinnacle Financial Partners in a report on Friday, January 9th. Piper Sandler upped their target price on shares of Pinnacle Financial Partners from $120.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Pinnacle Financial Partners in a report on Thursday, January 22nd. Finally, TD Cowen reiterated a “buy” rating on shares of Pinnacle Financial Partners in a research report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.41.

Pinnacle Financial Partners Trading Down 0.3%

NYSE PNFP opened at $83.11 on Wednesday. Pinnacle Financial Partners has a one year low of $81.57 and a one 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 company has a market cap of $6.45 billion, a PE ratio of 9.91, a PEG ratio of 0.38 and a beta of 1.02.

Insider Transactions at Pinnacle Financial Partners

In related news, CFO Andrew J. Jr. Gregory bought 1,000 shares of the firm’s stock in a transaction on Thursday, February 12th. The shares were bought at an average price of $94.52 per share, with a total value of $94,520.00. Following the completion of the transaction, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.46% of the company’s stock.

Institutional Investors Weigh In On Pinnacle Financial Partners

A number of institutional investors and hedge funds have recently made changes to their positions in PNFP. Northwestern Mutual Wealth Management Co. increased its position in shares of Pinnacle Financial Partners by 1.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 7,377 shares of the company’s stock worth $704,000 after acquiring an additional 116 shares during the period. Villanova Investment Management Co LLC raised its stake in shares of Pinnacle Financial Partners by 0.4% in the fourth quarter. Villanova Investment Management Co LLC now owns 28,511 shares of the company’s stock valued at $2,720,000 after acquiring an additional 118 shares in the last quarter. EJF Capital LLC boosted its holdings in Pinnacle Financial Partners by 2.5% in the second 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 period. Profund Advisors LLC grew its stake in Pinnacle Financial Partners by 4.6% during the 3rd quarter. Profund Advisors LLC now owns 2,895 shares of the company’s stock worth $272,000 after purchasing an additional 127 shares in the last quarter. Finally, Portside Wealth Group LLC grew its stake in Pinnacle Financial Partners by 7.0% during the 2nd quarter. Portside Wealth Group LLC now owns 1,960 shares of the company’s stock worth $216,000 after purchasing an additional 128 shares in the last quarter. 87.40% of the stock is owned by hedge funds and other 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.