Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Receives $106.60 Average Target Price from Analysts

Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) have received a consensus rating of “Moderate Buy” from the ten analysts that are currently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $106.60.

A number of brokerages recently commented on PNFP. Stephens upped their target price on Pinnacle Financial Partners from $108.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Citigroup upped their target price on Pinnacle Financial Partners from $113.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Hovde Group upped their target price on Pinnacle Financial Partners from $110.00 to $114.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Wells Fargo & Company upped their target price on Pinnacle Financial Partners from $100.00 to $104.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Finally, Truist Financial upped their target price on Pinnacle Financial Partners from $113.00 to $119.00 and gave the company a “buy” rating in a research report on Monday, October 21st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC purchased a new position in shares of Pinnacle Financial Partners during the 2nd quarter valued at approximately $29,000. Ashton Thomas Securities LLC purchased a new position in shares of Pinnacle Financial Partners during the 3rd quarter valued at approximately $30,000. Versant Capital Management Inc lifted its position in shares of Pinnacle Financial Partners by 44.5% during the 2nd quarter. Versant Capital Management Inc now owns 432 shares of the financial services provider’s stock valued at $35,000 after buying an additional 133 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Pinnacle Financial Partners by 83.4% during the 3rd 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 in the last quarter. Finally, Values First Advisors Inc. acquired a new position in Pinnacle Financial Partners in the 3rd quarter valued at $49,000. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Pinnacle Financial Partners Stock Performance

PNFP opened at $123.99 on Wednesday. Pinnacle Financial Partners has a 52-week low of $70.03 and a 52-week high of $129.38. 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 $9.58 billion, a P/E ratio of 23.57 and a beta of 1.04. The firm’s 50-day moving average price is $102.23 and its 200-day moving average price is $91.05.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.07. The firm had revenue of $810.11 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the company posted $1.79 earnings per share. As a group, equities analysts anticipate that Pinnacle Financial Partners will post 6.8 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. Stockholders of record on Friday, November 1st will be given a dividend of $0.22 per share. The ex-dividend date is Friday, November 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.71%. Pinnacle Financial Partners’s dividend payout ratio (DPR) 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.