Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Receives Average Recommendation of “Hold” from Analysts

Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) have earned a consensus recommendation of “Hold” from the eleven analysts that are covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $119.73.

Several equities research analysts have commented on the company. UBS Group started coverage on Pinnacle Financial Partners in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $133.00 price objective on the stock. Barclays upgraded Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $120.00 to $135.00 in a report on Thursday, December 19th. Stephens raised their price target on shares of Pinnacle Financial Partners from $108.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $135.00 target price (up previously from $115.00) on shares of Pinnacle Financial Partners in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company lifted their price objective 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, December 3rd.

Insider Buying and Selling at Pinnacle Financial Partners

In related news, Chairman Robert A. Mccabe, Jr. sold 50,000 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $124.09, for a total value of $6,204,500.00. Following the completion of the sale, the chairman now owns 123,000 shares in the company, valued at $15,263,070. This represents a 28.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David B. Ingram sold 20,000 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $126.02, for a total transaction of $2,520,400.00. Following the transaction, the director now directly owns 92,565 shares in the company, valued at $11,665,041.30. The trade was a 17.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,661 shares of company stock worth $9,563,127 over the last 90 days. Corporate insiders own 1.87% of the company’s stock.

Institutional Investors 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 acquired a new position in shares of Pinnacle Financial Partners in the second quarter valued at approximately $29,000. Ashton Thomas Securities LLC purchased a new stake in shares of Pinnacle Financial Partners in the third quarter valued at about $30,000. UMB Bank n.a. increased its stake in shares of Pinnacle Financial Partners by 83.4% during the third quarter. UMB Bank n.a. now owns 497 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 226 shares during the period. Values First Advisors Inc. purchased a new position in Pinnacle Financial Partners during the third quarter worth about $49,000. Finally, Quarry LP lifted its position 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 purchasing an additional 735 shares during the period. 87.40% of the stock is owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Stock Up 0.6 %

NASDAQ:PNFP opened at $114.39 on Thursday. Pinnacle Financial Partners has a fifty-two week low of $73.62 and a fifty-two week high of $131.91. The company’s 50-day simple moving average is $117.88 and its 200-day simple moving average is $100.77. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $8.84 billion, a P/E ratio of 21.75 and a beta of 1.08.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced 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 firm had revenue of $810.11 million for the quarter, compared to analyst estimates 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 period in the previous year, the company earned $1.79 earnings per share. On average, equities analysts anticipate that Pinnacle Financial Partners will post 6.8 earnings per share for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 1st were given a $0.22 dividend. The ex-dividend date was Friday, November 1st. This represents a $0.88 dividend on an annualized basis and a yield of 0.77%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 16.73%.

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.