Pinnacle Financial Partners (NASDAQ:PNFP) PT Lowered to $94.00

Pinnacle Financial Partners (NASDAQ:PNFP) had its price target decreased by Truist Financial from $99.00 to $94.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price objective points to a potential upside of 17.08% from the company’s current price.

A number of other brokerages have also commented on PNFP. JPMorgan Chase & Co. decreased their price target on shares of Pinnacle Financial Partners from $110.00 to $108.00 and set an “overweight” rating on the stock in a report on Wednesday. Jefferies Financial Group decreased their price target on shares of Pinnacle Financial Partners from $88.00 to $85.00 and set a “hold” rating on the stock in a report on Monday, April 8th. Barclays started coverage on shares of Pinnacle Financial Partners in a report on Friday, March 8th. They set an “equal weight” rating and a $93.00 target price on the stock. Stephens reaffirmed an “overweight” rating and set a $109.00 target price on shares of Pinnacle Financial Partners in a report on Tuesday. Finally, Hovde Group reduced their target price on shares of Pinnacle Financial Partners from $104.00 to $99.00 and set an “outperform” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $95.50.

Pinnacle Financial Partners Price Performance

Shares of NASDAQ:PNFP opened at $80.29 on Thursday. The company’s fifty day moving average price is $82.20 and its 200-day moving average price is $79.29. The firm has a market capitalization of $6.19 billion, a price-to-earnings ratio of 11.49 and a beta of 1.08. Pinnacle Financial Partners has a one year low of $43.31 and a one year high of $92.33. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.90.

Insiders Place Their Bets

In other Pinnacle Financial Partners news, CFO Harold R. Carpenter sold 6,306 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total value of $518,479.32. Following the sale, the chief financial officer now owns 63,856 shares of the company’s stock, valued at approximately $5,250,240.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Pinnacle Financial Partners news, CEO M Terry Turner sold 24,057 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total value of $1,977,966.54. Following the sale, the chief executive officer now owns 294,790 shares of the company’s stock, valued at approximately $24,237,633.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Harold R. Carpenter sold 6,306 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $82.22, for a total transaction of $518,479.32. Following the completion of the sale, the chief financial officer now directly owns 63,856 shares in the company, valued at approximately $5,250,240.32. The disclosure for this sale can be found here. Insiders have sold a total of 47,844 shares of company stock valued at $3,933,734 in the last quarter. Insiders own 1.87% of the company’s stock.

Institutional Investors Weigh In On Pinnacle Financial Partners

Large investors have recently modified their holdings of the stock. Rise Advisors LLC bought a new stake in shares of Pinnacle Financial Partners during the 1st quarter valued at about $26,000. Emerald Advisers LLC bought a new stake in shares of Pinnacle Financial Partners during the 3rd quarter valued at about $27,000. Fifth Third Bancorp boosted its stake in shares of Pinnacle Financial Partners by 101.4% during the 3rd quarter. Fifth Third Bancorp now owns 423 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 213 shares in the last quarter. Bruce G. Allen Investments LLC bought a new stake in shares of Pinnacle Financial Partners during the 4th quarter valued at about $32,000. Finally, Nomura Asset Management Co. Ltd. boosted its stake in shares of Pinnacle Financial Partners by 57.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 550 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 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.