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

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) has been assigned a consensus rating of “Moderate Buy” from the ten analysts that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $119.50.

PNFP has been the subject of a number of research reports. Citigroup raised their price objective on shares of Pinnacle Financial Partners from $123.00 to $132.00 and gave the company a “buy” rating in a report on Tuesday, December 31st. Stephens restated an “overweight” rating and issued a $142.00 price objective on shares of Pinnacle Financial Partners in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods cut their target price on Pinnacle Financial Partners from $130.00 to $115.00 and set a “market perform” rating on the stock in a report on Thursday. Wells Fargo & Company decreased their price target on Pinnacle Financial Partners from $125.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. Finally, Hovde Group upgraded Pinnacle Financial Partners from a “market perform” rating to an “outperform” rating and set a $111.00 target price on the stock in a report on Wednesday.

Pinnacle Financial Partners Stock Performance

Shares of Pinnacle Financial Partners stock opened at $95.11 on Friday. The company’s 50 day moving average price is $104.70 and its two-hundred day moving average price is $111.76. The firm has a market capitalization of $7.36 billion, a P/E ratio of 15.90 and a beta of 0.94. Pinnacle Financial Partners has a fifty-two week low of $73.62 and a fifty-two week high of $131.91. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.90 and a quick ratio of 0.90.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings data on Monday, April 14th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.08. The business had revenue of $475.37 million for the quarter, compared to analyst estimates of $478.11 million. Pinnacle Financial Partners had a return on equity of 9.04% and a net margin of 15.48%. During the same quarter in the previous year, the company posted $1.53 EPS. On average, equities analysts forecast that Pinnacle Financial Partners will post 7.85 earnings per share for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 2nd will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Friday, May 2nd. Pinnacle Financial Partners’s payout ratio is 15.53%.

Insider Transactions at Pinnacle Financial Partners

In related news, Director David B. Ingram sold 10,309 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $126.00, for a total value of $1,298,934.00. Following the completion of the sale, the director now directly owns 82,256 shares of the company’s stock, valued at $10,364,256. The trade was a 11.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO M Terry Turner sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $100.63, for a total value of $201,260.00. Following the completion of the transaction, the chief executive officer now owns 254,552 shares in the company, valued at approximately $25,615,567.76. The trade was a 0.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 95,350 shares of company stock valued at $11,421,320 in the last quarter. 1.46% of the stock is currently owned by company insiders.

Institutional Trading of Pinnacle Financial Partners

Hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Securities Inc. increased its holdings in Pinnacle Financial Partners by 12.7% during the 4th quarter. Principal Securities Inc. now owns 808 shares of the financial services provider’s stock worth $92,000 after purchasing an additional 91 shares in the last quarter. Sage Mountain Advisors LLC lifted its holdings in Pinnacle Financial Partners by 0.3% during the fourth quarter. Sage Mountain Advisors LLC now owns 36,198 shares of the financial services provider’s stock worth $4,141,000 after acquiring an additional 99 shares during the period. Utah Retirement Systems boosted its holdings in shares of Pinnacle Financial Partners by 2.5% in the 4th quarter. Utah Retirement Systems now owns 4,090 shares of the financial services provider’s stock worth $468,000 after buying an additional 100 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in Pinnacle Financial Partners by 3.1% in the fourth quarter. First Horizon Advisors Inc. now owns 3,399 shares of the financial services provider’s stock valued at $389,000 after acquiring an additional 102 shares during the last quarter. Finally, Cahaba Wealth Management Inc. lifted its stake in Pinnacle Financial Partners by 1.7% in the fourth quarter. Cahaba Wealth Management Inc. now owns 6,625 shares of the financial services provider’s stock valued at $758,000 after purchasing an additional 113 shares during 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.