Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Receives Consensus Rating of “Moderate Buy” from Analysts

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) has been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $95.50.

Several research analysts have recently weighed in on the company. Jefferies Financial Group lowered their price objective on Pinnacle Financial Partners from $88.00 to $85.00 and set a “hold” rating for the company in a research report on Monday, April 8th. Barclays assumed coverage on Pinnacle Financial Partners in a research report on Friday, March 8th. They issued an “equal weight” rating and a $93.00 price objective for the company. Stephens reissued an “overweight” rating and issued a $109.00 price objective on shares of Pinnacle Financial Partners in a research report on Tuesday, April 23rd. Truist Financial reduced their target price on Pinnacle Financial Partners from $99.00 to $94.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. reduced their target price on Pinnacle Financial Partners from $110.00 to $108.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th.

Pinnacle Financial Partners Stock Up 2.0 %

Shares of NASDAQ:PNFP opened at $78.25 on Friday. The business has a fifty day simple moving average of $81.84 and a 200 day simple moving average of $79.60. Pinnacle Financial Partners has a 12-month low of $43.31 and a 12-month high of $92.33. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. The firm has a market cap of $6.03 billion, a P/E ratio of 11.19 and a beta of 1.08.

Pinnacle Financial Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 3rd will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.88 dividend on an annualized basis and a yield of 1.12%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 12.59%.

Insider Transactions at Pinnacle Financial Partners

In other news, CEO M Terry Turner sold 72,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $80.97, for a total value of $5,829,840.00. Following the transaction, the chief executive officer now owns 222,790 shares in the company, valued at approximately $18,039,306.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO M Terry Turner sold 72,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $80.97, for a total value of $5,829,840.00. Following the sale, the chief executive officer now owns 222,790 shares of the company’s stock, valued at approximately $18,039,306.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Robert A. Mccabe, Jr. sold 115,249 shares of Pinnacle Financial Partners stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $81.04, for a total transaction of $9,339,778.96. Following the completion of the sale, the chairman now directly owns 153,062 shares in the company, valued at approximately $12,404,144.48. The disclosure for this sale can be found here. Insiders have sold 235,093 shares of company stock worth $19,103,353 in the last 90 days. Insiders own 1.87% of the company’s stock.

Institutional Investors Weigh In On Pinnacle Financial Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Caprock Group LLC raised its holdings in Pinnacle Financial Partners by 2.2% during the 4th quarter. Caprock Group LLC now owns 5,604 shares of the financial services provider’s stock valued at $489,000 after acquiring an additional 122 shares during the period. NBC Securities Inc. raised its holdings in Pinnacle Financial Partners by 1.3% during the 4th quarter. NBC Securities Inc. now owns 9,419 shares of the financial services provider’s stock valued at $821,000 after acquiring an additional 124 shares during the period. Verdence Capital Advisors LLC raised its holdings in Pinnacle Financial Partners by 2.9% during the 1st quarter. Verdence Capital Advisors LLC now owns 4,497 shares of the financial services provider’s stock valued at $386,000 after acquiring an additional 126 shares during the period. Covenant Partners LLC raised its holdings in Pinnacle Financial Partners by 1.4% during the 4th quarter. Covenant Partners LLC now owns 10,699 shares of the financial services provider’s stock valued at $933,000 after acquiring an additional 149 shares during the period. Finally, Treasurer of the State of North Carolina grew its position in shares of Pinnacle Financial Partners by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 33,040 shares of the financial services provider’s stock valued at $2,215,000 after purchasing an additional 170 shares in the last quarter. Institutional investors own 87.40% of the company’s stock.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.