Research Analysts’ Recent Ratings Updates for Pinnacle Financial Partners (PNFP)

A number of firms have modified their ratings and price targets on shares of Pinnacle Financial Partners (NASDAQ: PNFP) recently:

• 10/17/2024 – Pinnacle Financial Partners had its price target raised by analysts at Stephens from $108.00 to $120.00. They now have an “overweight” rating on the stock.
• 10/17/2024 – Pinnacle Financial Partners had its price target raised by analysts at Wells Fargo & Company from $100.00 to $104.00. They now have an “equal weight” rating on the stock.
• 10/17/2024 – Pinnacle Financial Partners had its price target raised by analysts at Barclays PLC from $101.00 to $108.00. They now have an “equal weight” rating on the stock.
• 10/17/2024 – Pinnacle Financial Partners had its price target raised by analysts at Citigroup Inc. from $113.00 to $123.00. They now have a “buy” rating on the stock.
• 10/1/2024 – Pinnacle Financial Partners was downgraded by analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating. They now have a $100.00 price target on the stock.
• 9/27/2024 – Pinnacle Financial Partners had its price target raised by analysts at Hovde Group from $110.00 to $114.00. They now have an “outperform” rating on the stock.
• 9/27/2024 – Pinnacle Financial Partners had its price target raised by analysts at Barclays PLC from $97.00 to $101.00. They now have an “equal weight” rating on the stock.
• 9/20/2024 – Pinnacle Financial Partners had its price target raised by analysts at Truist Financial Co. from $101.00 to $113.00. They now have a “buy” rating on the stock.

Pinnacle Financial Partners Price Performance

PNFP opened at $105.62 on Monday. Pinnacle Financial Partners, Inc. has a twelve month low of $59.66 and a twelve month high of $107.13. The firm has a market cap of $8.16 billion, a price-to-earnings ratio of 15.11 and a beta of 1.05. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. The company has a fifty day simple moving average of $96.03 and a 200 day simple moving average of $87.15.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.07. Pinnacle Financial Partners had a return on equity of 8.97% and a net margin of 13.93%. The company had revenue of $810.11 million during the quarter, compared to the consensus estimate of $454.18 million. During the same period last year, the firm earned $1.79 earnings per share. Equities research analysts expect that Pinnacle Financial Partners, Inc. will post 6.77 EPS for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 1st will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Friday, November 1st. Pinnacle Financial Partners’s payout ratio is 12.59%.

Hedge Funds Weigh In On Pinnacle Financial Partners

Institutional investors and hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC bought a new position in Pinnacle Financial Partners during the 2nd quarter valued at $29,000. Versant Capital Management Inc lifted its position in shares of Pinnacle Financial Partners by 44.5% during the second quarter. Versant Capital Management Inc now owns 432 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 133 shares during the last quarter. UMB Bank n.a. grew 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 purchasing an additional 226 shares in the last quarter. Quarry LP increased its holdings in Pinnacle Financial Partners by 3,500.0% in the second quarter. Quarry LP now owns 756 shares of the financial services provider’s stock valued at $61,000 after buying an additional 735 shares during the last quarter. Finally, Mather Group LLC. bought a new position in Pinnacle Financial Partners during the 1st quarter worth approximately $65,000. 87.40% of the stock is currently owned by hedge funds and other institutional investors.

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.