Pinnacle Financial Partners (NYSE:PNFP) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Pinnacle Financial Partners (NYSE:PNFP) from a hold rating to a sell rating in a research note published on Saturday.

PNFP has been the subject of a number of other reports. Piper Sandler boosted their price target on Pinnacle Financial Partners from $120.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. Barclays lowered their price target on Pinnacle Financial Partners from $135.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Truist Financial set a $100.00 price target on Pinnacle Financial Partners in a report on Friday, January 9th. Deutsche Bank Aktiengesellschaft set a $116.00 price target on Pinnacle Financial Partners and gave the company a “buy” rating in a report on Wednesday, January 21st. Finally, Royal Bank Of Canada upgraded Pinnacle Financial Partners to a “moderate buy” rating in a report on Monday, January 5th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $112.25.

Pinnacle Financial Partners Trading Up 1.2%

Shares of NYSE PNFP opened at $98.18 on Friday. Pinnacle Financial Partners has a twelve month low of $81.08 and a twelve month 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 capitalization of $7.62 billion, a PE ratio of 12.14, a PEG ratio of 0.33 and a beta of 1.00.

Pinnacle Financial Partners Dividend Announcement

The business also recently disclosed a dividend, which was paid on Friday, February 27th. Investors 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 payout ratio is currently 24.72%.

Insider Transactions at Pinnacle Financial Partners

In related news, CFO Andrew J. Jr. Gregory acquired 1,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Thursday, February 12th. The stock was acquired at an average price of $94.52 per share, for a total transaction of $94,520.00. Following the transaction, the chief financial officer directly owned 49,485 shares of the company’s stock, valued at $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 is accessible through this link. 1.46% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. acquired a new position in Pinnacle Financial Partners during the 3rd quarter worth $26,000. High Point Wealth Management LLC acquired a new position in Pinnacle Financial Partners during the 4th quarter worth $27,000. BOKF NA boosted its position in Pinnacle Financial Partners by 1,204.5% during the 3rd quarter. BOKF NA now owns 287 shares of the company’s stock worth $27,000 after acquiring an additional 265 shares during the period. Activest Wealth Management acquired a new position in Pinnacle Financial Partners during the 4th quarter worth $28,000. Finally, Covestor Ltd boosted its position in Pinnacle Financial Partners by 193.9% during the 3rd quarter. Covestor Ltd now owns 338 shares of the company’s stock worth $32,000 after acquiring an additional 223 shares during the period. Institutional investors and hedge funds own 87.40% of the company’s stock.

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.