Pinnacle Financial Partners (NASDAQ:PNFP) Now Covered by DA Davidson

DA Davidson initiated coverage on shares of Pinnacle Financial Partners (NASDAQ:PNFP) in a research report report published on Monday, Marketbeat reports. The firm issued a hold rating and a $110.00 target price on the financial services provider’s stock.

Several other research analysts have also commented on PNFP. Stephens lowered their price objective on shares of Pinnacle Financial Partners from $104.00 to $97.00 and set an “equal weight” rating for the company in a research note on Friday, October 17th. Cowen began coverage on shares of Pinnacle Financial Partners in a research report on Wednesday, September 24th. They issued a “buy” rating for the company. TD Cowen began coverage on Pinnacle Financial Partners in a research report on Thursday, September 25th. They set a “buy” rating and a $122.00 price objective on the stock. UBS Group decreased their target price on Pinnacle Financial Partners from $104.00 to $95.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Finally, Barclays boosted their target price on Pinnacle Financial Partners from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Pinnacle Financial Partners currently has an average rating of “Moderate Buy” and a consensus price target of $111.87.

Pinnacle Financial Partners Stock Up 2.3%

NASDAQ:PNFP opened at $97.28 on Monday. Pinnacle Financial Partners has a 52 week low of $81.57 and a 52 week high of $127.85. The stock’s fifty day moving average is $93.17 and its two-hundred day moving average is $96.63. The stock has a market capitalization of $7.55 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 0.48 and a beta of 1.02. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.33.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.22. Pinnacle Financial Partners had a return on equity of 9.91% and a net margin of 19.17%.The business had revenue of $544.80 million during the quarter, compared to analysts’ expectations of $526.40 million. During the same period in the previous year, the firm posted $1.86 earnings per share. Research analysts anticipate that Pinnacle Financial Partners will post 7.85 EPS for the current year.

Pinnacle Financial Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 7th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, November 7th. Pinnacle Financial Partners’s payout ratio is 12.20%.

Insider Activity

In other news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $93.00, for a total value of $630,075.00. Following the transaction, the chairman owned 202,505 shares in the company, valued at approximately $18,832,965. This represents a 3.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director G Kennedy Thompson bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The shares were acquired at an average price of $87.63 per share, with a total value of $438,150.00. Following the purchase, the director owned 33,372 shares of the company’s stock, valued at $2,924,388.36. The trade was a 17.62% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.46% of the company’s stock.

Institutional Investors Weigh In On Pinnacle Financial Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. 1248 Management LLC acquired a new stake in shares of Pinnacle Financial Partners during the first quarter worth about $29,000. Brown Brothers Harriman & Co. acquired a new position in Pinnacle Financial Partners during the third quarter worth approximately $26,000. BOKF NA lifted its stake in Pinnacle Financial Partners by 1,204.5% in the third quarter. BOKF NA now owns 287 shares of the financial services provider’s stock valued at $27,000 after buying an additional 265 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Pinnacle Financial Partners by 193.9% in the third quarter. Covestor Ltd now owns 338 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 223 shares during the period. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Pinnacle Financial Partners during the second quarter worth approximately $38,000. 87.40% of the stock is owned by hedge funds and other institutional investors.

About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc (NASDAQ: PNFP) is a financial services company headquartered in Nashville, Tennessee, that provides banking, wealth management and insurance solutions to business and consumer clients. The company operates through two primary segments—Banking and Wealth Management & Advisory—offering a comprehensive suite of products that includes commercial and consumer lending, deposit services, treasury management, trust and investment advisory, and insurance brokerage. Pinnacle’s client-focused model emphasizes relationship-based banking, leveraging local decision-making authority and specialized industry expertise to serve diverse sectors such as healthcare, technology, real estate and professional services.

In its banking segment, Pinnacle delivers commercial and consumer loans, lines of credit, equipment financing, and mortgage lending.