Pinnacle Financial Partners (PNFP) – Research Analysts’ Recent Ratings Changes

A number of research firms have changed their ratings and price targets for Pinnacle Financial Partners (NASDAQ: PNFP):

• 12/19/2024 – Pinnacle Financial Partners was upgraded by analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating. They now have a $135.00 price target on the stock, up previously from $120.00.
• 12/17/2024 – Pinnacle Financial Partners is now covered by analysts at UBS Group AG. They set a “neutral” rating and a $133.00 price target on the stock.
• 12/5/2024 – Pinnacle Financial Partners had its price target raised by analysts at Barclays PLC from $108.00 to $120.00. They now have an “equal weight” rating on the stock.
• 12/4/2024 – Pinnacle Financial Partners had its “market perform” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $135.00 price target on the stock, up previously from $115.00.
• 12/3/2024 – Pinnacle Financial Partners was downgraded by analysts at Keefe, Bruyette & Woods from a “moderate buy” rating to a “hold” rating.
• 12/3/2024 – Pinnacle Financial Partners had its price target raised by analysts at Wells Fargo & Company from $104.00 to $120.00. They now have an “equal weight” rating on the stock.
• 11/18/2024 – Pinnacle Financial Partners was downgraded by analysts at Hovde Group from an “outperform” rating to a “market perform” rating. They now have a $135.00 price target on the stock.
• 10/21/2024 – Pinnacle Financial Partners had its price target raised by analysts at Truist Financial Co. from $113.00 to $119.00. They now have a “buy” rating on the stock.

Pinnacle Financial Partners Stock Down 0.1 %

Shares of NASDAQ:PNFP opened at $110.95 on Friday. The firm has a fifty day moving average price of $115.78 and a 200 day moving average price of $98.21. Pinnacle Financial Partners, Inc. has a 1-year low of $73.62 and a 1-year high of $131.91. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market cap of $8.57 billion, a P/E ratio of 21.09 and a beta of 1.08.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.07. The firm had revenue of $810.11 million for 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 last year, the company posted $1.79 earnings per share. Sell-side analysts predict that Pinnacle Financial Partners, Inc. will post 6.8 EPS for the current year.

Pinnacle Financial Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 1st were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date was Friday, November 1st. Pinnacle Financial Partners’s payout ratio is currently 16.73%.

Insider Buying and Selling

In other news, CFO Harold R. Carpenter sold 3,051 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $125.57, for a total transaction 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 represents a 4.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director David B. Ingram sold 20,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $126.02, for a total value of $2,520,400.00. Following the completion of the sale, the director now owns 92,565 shares in the company, valued at approximately $11,665,041.30. This trade represents a 17.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,661 shares of company stock valued at $9,563,127 over the last three months. 1.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PNFP. SG Americas Securities LLC purchased a new position in Pinnacle Financial Partners in the second quarter valued at about $366,000. Raymond James & Associates increased its stake in Pinnacle Financial Partners by 0.4% in the 2nd quarter. Raymond James & Associates now owns 203,716 shares of the financial services provider’s stock valued at $16,305,000 after purchasing an additional 904 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Pinnacle Financial Partners by 2.5% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 171,629 shares of the financial services provider’s stock worth $13,737,000 after purchasing an additional 4,187 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in Pinnacle Financial Partners during the second quarter worth $188,000. Finally, &PARTNERS grew its holdings in Pinnacle Financial Partners by 8.2% in the second quarter. &PARTNERS now owns 11,724 shares of the financial services provider’s stock valued at $938,000 after purchasing an additional 890 shares during the last quarter. Hedge funds and other institutional investors own 87.40% of the company’s stock.

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.