Brokerages Set Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) PT at $106.00

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) has been given an average recommendation of “Moderate Buy” by the ten analysts that are currently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $106.60.

A number of equities analysts recently commented on PNFP shares. Barclays boosted their target price on shares of Pinnacle Financial Partners from $101.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Hovde Group increased their price objective on Pinnacle Financial Partners from $110.00 to $114.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Stephens boosted 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. JPMorgan Chase & Co. dropped their price target on shares of Pinnacle Financial Partners from $108.00 to $105.00 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. Finally, Citigroup raised their price objective on shares of Pinnacle Financial Partners from $113.00 to $123.00 and gave the stock a “buy” rating in a report on Thursday, October 17th.

Institutional Trading of Pinnacle Financial Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in PNFP. Raymond James & Associates increased its holdings in shares of Pinnacle Financial Partners by 2.5% in the third quarter. Raymond James & Associates now owns 208,850 shares of the financial services provider’s stock valued at $20,461,000 after purchasing an additional 5,134 shares during the period. Blue Trust Inc. increased its stake in Pinnacle Financial Partners by 10.6% in the 3rd quarter. Blue Trust Inc. now owns 1,315 shares of the financial services provider’s stock valued at $129,000 after buying an additional 126 shares during the period. Hunter Perkins Capital Management LLC increased its stake in Pinnacle Financial Partners by 2.8% in the 3rd quarter. Hunter Perkins Capital Management LLC now owns 15,145 shares of the financial services provider’s stock valued at $1,484,000 after buying an additional 410 shares during the period. NBC Securities Inc. raised its position in Pinnacle Financial Partners by 5.8% during the 3rd quarter. NBC Securities Inc. now owns 7,519 shares of the financial services provider’s stock worth $736,000 after buying an additional 411 shares during the last quarter. Finally, Creative Planning boosted its holdings in shares of Pinnacle Financial Partners by 9.4% in the third quarter. Creative Planning now owns 18,710 shares of the financial services provider’s stock valued at $1,833,000 after acquiring an additional 1,614 shares in the last quarter. 87.40% of the stock is owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Trading Down 3.6 %

Shares of NASDAQ PNFP opened at $101.77 on Friday. Pinnacle Financial Partners has a twelve month low of $59.66 and a twelve month high of $107.13. 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 stock has a fifty day simple moving average of $96.31 and a 200-day simple moving average of $87.30. The stock has a market capitalization of $7.86 billion, a PE ratio of 14.56 and a beta of 1.05.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its earnings results on Tuesday, October 15th. The financial services provider reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $810.11 million during the quarter, compared to analyst estimates of $454.18 million. During the same period last year, the business posted $1.79 earnings per share. On average, equities analysts forecast that Pinnacle Financial Partners will post 6.77 earnings per share for the current year.

Pinnacle Financial Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 1st will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.86%. The ex-dividend date is Friday, November 1st. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 12.59%.

About Pinnacle Financial Partners

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.