Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Receives Consensus Recommendation of “Hold” from Analysts

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) has earned a consensus rating of “Hold” from the eleven research firms that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $119.73.

PNFP has been the subject of a number of recent analyst reports. Stephens boosted their price target on shares of Pinnacle Financial Partners from $108.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $135.00 target price (up from $115.00) on shares of Pinnacle Financial Partners in a research report on Wednesday, December 4th. Hovde Group cut Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $135.00 price objective on the stock. in a research note on Monday, November 18th. UBS Group initiated coverage on Pinnacle Financial Partners in a report on Tuesday, December 17th. They issued a “neutral” rating and a $133.00 price objective for the company. Finally, Citigroup increased their price objective on Pinnacle Financial Partners from $123.00 to $132.00 and gave the stock a “buy” rating in a report on Tuesday.

Insider Buying and Selling at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, Director David B. Ingram sold 20,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $126.02, for a total transaction of $2,520,400.00. Following the sale, the director now directly owns 92,565 shares of the company’s stock, valued at $11,665,041.30. This trade represents a 17.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Harold R. Carpenter sold 3,051 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $125.57, for a total value of $383,114.07. Following the completion of the transaction, the chief financial officer now directly owns 60,805 shares of the company’s stock, valued at approximately $7,635,283.85. This trade represents a 4.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,661 shares of company stock valued at $9,563,127 over the last 90 days. 1.87% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pinnacle Financial Partners

Institutional investors and hedge funds have recently made changes to their positions in the business. Ashton Thomas Securities LLC bought a new position in shares of Pinnacle Financial Partners in the 3rd quarter valued at about $30,000. International Assets Investment Management LLC bought a new stake in Pinnacle Financial Partners in the second quarter worth about $29,000. UMB Bank n.a. boosted its position in shares of Pinnacle Financial Partners by 83.4% during the third quarter. UMB Bank n.a. now owns 497 shares of the financial services provider’s stock valued at $49,000 after buying an additional 226 shares during the period. Values First Advisors Inc. bought a new position in shares of Pinnacle Financial Partners during the third quarter valued at approximately $49,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Pinnacle Financial Partners in the third quarter worth approximately $70,000. 87.40% of the stock is owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Stock Up 0.6 %

Shares of NASDAQ PNFP opened at $114.39 on Thursday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.42. The company has a market cap of $8.84 billion, a P/E ratio of 21.75 and a beta of 1.08. Pinnacle Financial Partners has a 52 week low of $73.62 and a 52 week high of $131.91. The business has a 50-day simple moving average of $117.88 and a two-hundred day simple moving average of $100.77.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.07. The company had revenue of $810.11 million during the quarter, compared to analyst estimates of $454.18 million. Pinnacle Financial Partners had a net margin of 13.97% and a return on equity of 8.89%. During the same period last year, the business earned $1.79 earnings per share. Research analysts anticipate that Pinnacle Financial Partners will post 6.8 earnings per share for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 1st were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.77%. The ex-dividend date was Friday, November 1st. Pinnacle Financial Partners’s dividend payout ratio is 16.73%.

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.