JPMorgan Chase & Co. Issues Pessimistic Forecast for Pinnacle Financial Partners (NYSE:PNFP) Stock Price

Pinnacle Financial Partners (NYSE:PNFP) had its target price cut by stock analysts at JPMorgan Chase & Co. from $120.00 to $105.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 19.91% from the company’s previous close.

A number of other equities research analysts have also weighed in on PNFP. Wall Street Zen lowered Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research report on Thursday, March 26th. TD Cowen reaffirmed a “buy” rating on shares of Pinnacle Financial Partners in a research note on Wednesday, January 7th. Weiss Ratings began coverage on shares of Pinnacle Financial Partners in a report on Monday, March 9th. They issued a “hold (c+)” rating on the stock. Barclays boosted their price objective 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. Finally, Piper Sandler upped their price objective on shares of Pinnacle Financial Partners from $120.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $112.24.

Pinnacle Financial Partners Stock Down 0.3%

Shares of NYSE:PNFP opened at $87.57 on Wednesday. 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 cap of $6.79 billion, a PE ratio of 10.82, a PEG ratio of 0.40 and a beta of 1.00. Pinnacle Financial Partners has a 12 month low of $81.08 and a 12 month high of $120.46.

Insider Buying and Selling at Pinnacle Financial Partners

In other news, CFO Andrew J. Jr. Gregory purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The shares were bought 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 in the company, valued at approximately $4,677,322.20. This trade represents a 2.06% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.46% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Rockefeller Capital Management L.P. raised its holdings in Pinnacle Financial Partners by 53.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,099 shares of the company’s stock worth $105,000 after acquiring an additional 385 shares during the last quarter. Corient Private Wealth LLC boosted its stake in Pinnacle Financial Partners by 148.6% during the 4th quarter. Corient Private Wealth LLC now owns 16,740 shares of the company’s stock valued at $1,603,000 after purchasing an additional 10,007 shares during the last quarter. Wick Capital Partners LLC bought a new stake in shares of Pinnacle Financial Partners in the 4th quarter worth $203,000. Instrumental Wealth LLC bought a new stake in shares of Pinnacle Financial Partners in the 4th quarter worth $417,000. Finally, 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 worth $2,720,000 after purchasing an additional 118 shares during the last quarter. 87.40% of the stock is owned by hedge funds and other 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.