Pinnacle Financial Partners, Inc. (NYSE:PNFP) Stock Rated “Moderate Buy” by Wall Street Brokerages

Pinnacle Financial Partners, Inc. (NYSE:PNFP) has received an average rating of “Moderate Buy” from the twenty-one research firms that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $120.15.

A number of research firms have commented on PNFP. UBS Group increased their price target on Pinnacle Financial Partners from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, October 27th. Stephens set a $112.00 price objective on shares of Pinnacle Financial Partners in a research report on Monday, July 27th. Royal Bank Of Canada lifted their target price on shares of Pinnacle Financial Partners from $117.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, October 23rd. Morgan Stanley boosted their target price on shares of Pinnacle Financial Partners from $139.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, October 23rd. Finally, Wells Fargo & Company raised shares of Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and set a $118.00 target price on the stock in a research report on Wednesday, September 30th.

Insider Transactions at Pinnacle Financial Partners

In other news, Director David Ingram purchased 10,000 shares of the stock in a transaction on Wednesday, October 28th. The stock was bought at an average price of $99.16 per share, with a total value of $991,600.00. Following the transaction, the director owned 75,182 shares in the company, valued at $7,455,047.12. The trade was a 15.34% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin Blair purchased 2,565 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were purchased at an average price of $97.48 per share, for a total transaction of $250,036.20. Following the purchase, the chief executive officer owned 152,397 shares in the company, valued at approximately $14,855,659.56. The trade was a 1.71% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 13,065 shares of company stock worth $1,290,941 over the last 90 days. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Pinnacle Financial Partners

Institutional investors have recently bought and sold shares of the business. AlphaGrep UK Ltd raised its holdings in shares of Pinnacle Financial Partners by 34.7% during the 3rd quarter. AlphaGrep UK Ltd now owns 3,294 shares of the company’s stock worth $308,000 after acquiring an additional 848 shares during the period. Benjamin Edwards Inc. boosted its position in shares of Pinnacle Financial Partners by 30.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 12,715 shares of the company’s stock valued at $1,190,000 after acquiring an additional 3,002 shares during the last quarter. Resona Asset Management Co. Ltd. boosted its position in shares of Pinnacle Financial Partners by 1.0% during the 3rd quarter. Resona Asset Management Co. Ltd. now owns 40,171 shares of the company’s stock valued at $3,760,000 after acquiring an additional 410 shares during the last quarter. NFC Investments LLC boosted its position in shares of Pinnacle Financial Partners by 14.7% during the 3rd quarter. NFC Investments LLC now owns 3,456 shares of the company’s stock valued at $324,000 after acquiring an additional 442 shares during the last quarter. Finally, Minot DeBlois Advisors LLC purchased a new stake in shares of Pinnacle Financial Partners in the third quarter valued at about $64,000. 87.40% of the stock is owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Stock Performance

Shares of Pinnacle Financial Partners stock opened at $99.33 on Friday. The company has a market capitalization of $15.01 billion, a PE ratio of 13.26, a P/E/G ratio of 0.39 and a beta of 1.04. The company has a 50-day simple moving average of $97.84 and a two-hundred day simple moving average of $97.09. Pinnacle Financial Partners has a one year low of $81.08 and a one year high of $110.33. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 0.93.

Pinnacle Financial Partners (NYSE:PNFP) last posted its earnings results on Wednesday, October 21st. The company reported $2.69 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.07. Pinnacle Financial Partners had a net margin of 15.97% and a return on equity of 11.33%. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Research analysts expect that Pinnacle Financial Partners will post 10.25 EPS for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 6th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, November 6th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.0%. Pinnacle Financial Partners’s payout ratio is 26.70%.

About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc. is a financial services company headquartered in Nashville, Tennessee. Founded in 2000, it operates Pinnacle Bank and provides banking and related financial services to individuals, businesses and other organizations. Its services include commercial and consumer banking, lending, treasury management, mortgage banking, wealth management, trust services and insurance. The company has built a regional presence across Tennessee and other Southeastern and Mid-Atlantic markets, including North Carolina, South Carolina, Georgia and Virginia.