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

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) has been assigned an average recommendation of “Hold” from the eleven ratings firms that are covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $113.64.

Several analysts have issued reports on PNFP shares. Stephens upped their target price on Pinnacle Financial Partners from $108.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $135.00 price objective (up previously from $115.00) on shares of Pinnacle Financial Partners in a research note on Wednesday. Barclays lifted their target price on shares of Pinnacle Financial Partners from $108.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday. Hovde Group lowered shares of Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $135.00 price target for the company. in a research report on Monday, November 18th. Finally, Truist Financial lifted their price objective on Pinnacle Financial Partners from $113.00 to $119.00 and gave the stock a “buy” rating in a report on Monday, October 21st.

Institutional Trading of Pinnacle Financial Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PNFP. International Assets Investment Management LLC bought a new position in Pinnacle Financial Partners in the 2nd quarter worth $29,000. Ashton Thomas Securities LLC purchased a new position in shares of Pinnacle Financial Partners during the third quarter valued at about $30,000. UMB Bank n.a. raised its stake in Pinnacle Financial Partners by 83.4% in the third quarter. UMB Bank n.a. now owns 497 shares of the financial services provider’s stock worth $49,000 after buying an additional 226 shares in the last quarter. Values First Advisors Inc. purchased a new stake in Pinnacle Financial Partners in the third quarter worth about $49,000. Finally, Quarry LP boosted its position in Pinnacle Financial Partners by 3,500.0% during the 2nd quarter. Quarry LP now owns 756 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 735 shares in the last quarter. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Pinnacle Financial Partners Stock Performance

PNFP opened at $126.51 on Friday. Pinnacle Financial Partners has a 1-year low of $73.62 and a 1-year high of $131.91. The company’s fifty day moving average price is $111.72 and its two-hundred day moving average price is $95.93. The company has a market cap of $9.77 billion, a price-to-earnings ratio of 24.05 and a beta of 1.08. 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 (NASDAQ:PNFP) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.07. The firm had revenue of $810.11 million during the quarter, compared to analyst estimates of $454.18 million. Pinnacle Financial Partners had a return on equity of 8.89% and a net margin of 13.97%. During the same quarter in the previous year, the company posted $1.79 earnings per share. On average, analysts expect that Pinnacle Financial Partners will post 6.8 EPS for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 1st were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend was Friday, November 1st. Pinnacle Financial Partners’s 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.