Pinnacle Financial Partners (NASDAQ:PNFP) Given Market Perform Rating at Keefe, Bruyette & Woods

Pinnacle Financial Partners (NASDAQ:PNFP)‘s stock had its “market perform” rating restated by investment analysts at Keefe, Bruyette & Woods in a report issued on Wednesday, MarketBeat reports. They currently have a $135.00 price objective on the financial services provider’s stock, up from their previous price objective of $115.00. Keefe, Bruyette & Woods’ price target points to a potential upside of 8.37% from the stock’s previous close.

A number of other analysts have also recently weighed in on PNFP. Hovde Group cut shares of Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $135.00 price objective for the company. in a research note on Monday, November 18th. Wells Fargo & Company upped their price target on shares of Pinnacle Financial Partners from $104.00 to $120.00 and gave the company an “equal weight” rating in a report on Tuesday. 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 research note on Monday, October 21st. Barclays increased their target price on Pinnacle Financial Partners from $101.00 to $108.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, Stephens lifted their price target on Pinnacle Financial Partners from $108.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $113.64.

Pinnacle Financial Partners Price Performance

Shares of NASDAQ:PNFP opened at $124.57 on Wednesday. The stock has a market capitalization of $9.62 billion, a P/E ratio of 23.68 and a beta of 1.08. The business has a 50-day moving average of $111.12 and a two-hundred day moving average of $95.53. Pinnacle Financial Partners has a fifty-two week low of $73.62 and a fifty-two week 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.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.07. The business had revenue of $810.11 million for the quarter, compared to the consensus estimate 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 period last year, the business earned $1.79 EPS. On average, equities research analysts predict that Pinnacle Financial Partners will post 6.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PNFP. Azora Capital LP acquired a new position in shares of Pinnacle Financial Partners in the 3rd quarter valued at $64,326,000. Dimensional Fund Advisors LP lifted its stake in Pinnacle Financial Partners by 10.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,094,498 shares of the financial services provider’s stock worth $247,673,000 after purchasing an additional 292,401 shares during the period. FMR LLC boosted its holdings in Pinnacle Financial Partners by 11.6% during the third quarter. FMR LLC now owns 2,716,416 shares of the financial services provider’s stock valued at $266,127,000 after purchasing an additional 282,016 shares in the last quarter. Holocene Advisors LP bought a new stake in shares of Pinnacle Financial Partners in the 3rd quarter valued at approximately $21,576,000. Finally, Principal Financial Group Inc. lifted its position in shares of Pinnacle Financial Partners by 27.0% during the 3rd quarter. Principal Financial Group Inc. now owns 983,282 shares of the financial services provider’s stock worth $96,332,000 after buying an additional 208,938 shares during the period. 87.40% of the stock is owned by institutional investors.

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.