Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Receives $125.18 Average Price Target from Analysts

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) has earned an average recommendation of “Hold” from the eleven analysts that are presently covering the company, Marketbeat Ratings 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 brokers that have issued a report on the stock in the last year is $125.18.

PNFP has been the topic of a number of recent analyst reports. Hovde Group lowered Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $135.00 price objective on the stock. in a research note on Monday, November 18th. Wells Fargo & Company lifted their target price on Pinnacle Financial Partners from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Citigroup upped their price target on Pinnacle Financial Partners from $123.00 to $132.00 and gave the company a “buy” rating in a report on Tuesday, December 31st. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $135.00 price objective (up previously from $115.00) on shares of Pinnacle Financial Partners in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. cut their target price on Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th.

Insiders Place Their Bets

In other Pinnacle Financial Partners 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 transaction of $6,204,500.00. Following the completion of the sale, the chairman now owns 123,000 shares in the company, valued at approximately $15,263,070. The trade was a 28.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Harold R. Carpenter sold 3,051 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $125.57, for a total transaction of $383,114.07. Following the completion of the transaction, the chief financial officer now directly owns 60,805 shares of the company’s stock, valued at $7,635,283.85. This trade represents a 4.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,661 shares of company stock valued at $9,563,127. 1.87% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PNFP. Angel Oak Capital Advisors LLC acquired a new stake in shares of Pinnacle Financial Partners during the fourth quarter worth $1,007,000. Venturi Wealth Management LLC boosted its holdings in shares of Pinnacle Financial Partners by 87.9% in the 4th quarter. Venturi Wealth Management LLC now owns 5,028 shares of the financial services provider’s stock valued at $575,000 after buying an additional 2,352 shares during the last quarter. CIBC Asset Management Inc raised its position in Pinnacle Financial Partners by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 2,424 shares of the financial services provider’s stock worth $277,000 after acquiring an additional 129 shares in the last quarter. Principal Securities Inc. raised its holdings in shares of Pinnacle Financial Partners by 12.7% in the 4th quarter. Principal Securities Inc. now owns 808 shares of the financial services provider’s stock valued at $92,000 after purchasing an additional 91 shares during the period. Finally, Beacon Capital Management LLC increased its position in Pinnacle Financial Partners by 101,563.6% during the fourth quarter. Beacon Capital Management LLC now owns 22,366 shares of the financial services provider’s stock worth $2,558,000 after buying an additional 22,344 shares during the last quarter. Institutional investors own 87.40% of the company’s stock.

Pinnacle Financial Partners Stock Down 0.9 %

PNFP stock opened at $124.77 on Monday. The company has a 50 day moving average of $119.48 and a two-hundred day moving average of $106.78. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.37. Pinnacle Financial Partners has a 12-month low of $73.62 and a 12-month high of $131.91. The company has a market cap of $9.64 billion, a price-to-earnings ratio of 20.86 and a beta of 1.09.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.10. The firm had revenue of $475.34 million for the quarter, compared to analyst estimates of $470.33 million. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.68 earnings per share. On average, equities analysts anticipate that Pinnacle Financial Partners will post 7.79 earnings per share for the current fiscal year.

Pinnacle Financial Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 7th will be issued a dividend of $0.24 per share. This is an increase from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Friday, February 7th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 14.72%.

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.