Pinnacle Financial Partners, Inc. (NYSE:PNFP) Receives $114.88 Average PT from Analysts

Pinnacle Financial Partners, Inc. (NYSE:PNFP) has been given a consensus rating of “Moderate Buy” by the twenty research firms that are currently covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $114.8824.

PNFP has been the topic of several analyst reports. TD Cowen cut their price target on shares of Pinnacle Financial Partners from $125.00 to $121.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Piper Sandler restated an “overweight” rating on shares of Pinnacle Financial Partners in a report on Wednesday, June 10th. Evercore restated an “outperform” rating and set a $115.00 price target on shares of Pinnacle Financial Partners in a report on Wednesday, April 29th. Barclays dropped their target price on shares of Pinnacle Financial Partners from $135.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. Finally, Robert W. Baird initiated coverage on shares of Pinnacle Financial Partners in a research note on Tuesday, May 19th. They issued an “outperform” rating and a $115.00 target price on the stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. raised its position in shares of Pinnacle Financial Partners by 1.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 7,377 shares of the company’s stock valued at $704,000 after purchasing an additional 116 shares during the period. Villanova Investment Management Co LLC raised its position 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 valued at $2,720,000 after purchasing an additional 118 shares during the period. Profund Advisors LLC raised its position in shares of Pinnacle Financial Partners by 4.6% in the third quarter. Profund Advisors LLC now owns 2,895 shares of the company’s stock valued at $272,000 after purchasing an additional 127 shares during the period. Simplicity Wealth LLC raised its position in shares of Pinnacle Financial Partners by 1.5% in the first quarter. Simplicity Wealth LLC now owns 9,155 shares of the company’s stock valued at $789,000 after purchasing an additional 131 shares during the period. Finally, Diversified Trust Co. raised its position in shares of Pinnacle Financial Partners by 0.3% in the fourth quarter. Diversified Trust Co. now owns 54,349 shares of the company’s stock valued at $5,185,000 after purchasing an additional 137 shares during the period. 87.40% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Stock Performance

Pinnacle Financial Partners stock opened at $96.05 on Thursday. Pinnacle Financial Partners has a fifty-two week low of $81.08 and a fifty-two week high of $120.46. The stock has a market capitalization of $7.45 billion, a PE ratio of 13.32, a PEG ratio of 0.37 and a beta of 1.04. The stock’s 50-day moving average price is $95.66. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.42.

Pinnacle Financial Partners (NYSE:PNFP) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.09. Pinnacle Financial Partners had a net margin of 15.02% and a return on equity of 10.61%. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.20 billion. As a group, analysts predict that Pinnacle Financial Partners will post 10.25 EPS for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 1st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, May 1st. Pinnacle Financial Partners’s payout ratio is presently 27.74%.

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.