Pinnacle Financial Partners (NYSE:PNFP) Given New $115.00 Price Target at JPMorgan Chase & Co.

Pinnacle Financial Partners (NYSE:PNFP) had its price target cut by stock analysts at JPMorgan Chase & Co. from $120.00 to $115.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 20.96% from the company’s previous close.

A number of other equities analysts also recently issued reports on PNFP. Barclays cut their price target on shares of Pinnacle Financial Partners from $135.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Wall Street Zen upgraded shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Piper Sandler reiterated an “overweight” rating on shares of Pinnacle Financial Partners in a research report on Wednesday. Evercore restated an “outperform” rating and issued a $115.00 price target on shares of Pinnacle Financial Partners in a report on Wednesday, April 29th. Finally, TD Cowen dropped their price objective on Pinnacle Financial Partners from $125.00 to $121.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.88.

Pinnacle Financial Partners Trading Down 0.1%

Shares of PNFP traded down $0.13 during mid-day trading on Wednesday, hitting $95.08. The company’s stock had a trading volume of 335,105 shares, compared to its average volume of 1,497,218. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.90 and a quick ratio of 0.90. The business has a 50-day moving average of $94.98. The stock has a market capitalization of $7.37 billion, a price-to-earnings ratio of 13.19, a P/E/G ratio of 0.37 and a beta of 1.04. Pinnacle Financial Partners has a 1-year low of $81.08 and a 1-year high of $120.46.

Pinnacle Financial Partners (NYSE:PNFP) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.09. Pinnacle Financial Partners had a return on equity of 10.61% and a net margin of 15.02%.The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. As a group, sell-side analysts predict that Pinnacle Financial Partners will post 10.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Pinnacle Financial Partners

A number of institutional investors and hedge funds have recently bought and sold shares of PNFP. Yousif Capital Management LLC lifted its holdings in Pinnacle Financial Partners by 92.4% in the 4th quarter. Yousif Capital Management LLC now owns 46,456 shares of the company’s stock valued at $4,519,000 after purchasing an additional 22,306 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Pinnacle Financial Partners by 122.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 16,188 shares of the company’s stock worth $1,544,000 after buying an additional 8,927 shares in the last quarter. Hudson Bay Capital Management LP acquired a new position in shares of Pinnacle Financial Partners in the third quarter valued at approximately $1,128,000. Citigroup Inc. raised its position in shares of Pinnacle Financial Partners by 38.1% in the third quarter. Citigroup Inc. now owns 92,054 shares of the company’s stock valued at $8,634,000 after buying an additional 25,395 shares during the last quarter. Finally, Private Management Group Inc. lifted its stake in shares of Pinnacle Financial Partners by 96.4% during the third quarter. Private Management Group Inc. now owns 245,160 shares of the company’s stock valued at $22,994,000 after buying an additional 120,311 shares during the period. Hedge funds and other institutional investors 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.