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

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) has been given an average recommendation of “Hold” by the eleven research firms that are covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $125.18.

Several analysts recently issued reports on PNFP shares. Wells Fargo & Company increased their price objective on Pinnacle Financial Partners from $120.00 to $125.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Stephens reaffirmed an “overweight” rating and set a $142.00 price target on shares of Pinnacle Financial Partners in a research note on Wednesday, January 22nd. Citigroup boosted their price target on Pinnacle Financial Partners from $123.00 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, December 31st. JPMorgan Chase & Co. cut their price objective on shares of Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $135.00 target price (up from $115.00) on shares of Pinnacle Financial Partners in a research report on Wednesday, December 4th.

Insider Buying and Selling

In related news, Director Glenda Baskin Glover sold 3,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $101.55, for a total transaction of $304,650.00. Following the completion of the sale, the director now owns 9,943 shares in the company, valued at $1,009,711.65. This represents a 23.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO M Terry Turner sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $100.63, for a total value of $201,260.00. Following the completion of the sale, the chief executive officer now directly owns 254,552 shares in the company, valued at $25,615,567.76. This trade represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,350 shares of company stock worth $11,421,320 in the last quarter. 1.46% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Pinnacle Financial Partners

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Virtue Capital Management LLC bought a new stake in Pinnacle Financial Partners in the 4th quarter valued at $213,000. Sunbeam Capital Management LLC bought a new stake in shares of Pinnacle Financial Partners in the fourth quarter valued at about $1,131,000. Forum Financial Management LP grew its position in Pinnacle Financial Partners by 19.4% during the fourth quarter. Forum Financial Management LP now owns 2,660 shares of the financial services provider’s stock worth $304,000 after buying an additional 433 shares in the last quarter. GTS Securities LLC bought a new position in Pinnacle Financial Partners during the fourth quarter valued at about $398,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Pinnacle Financial Partners by 27.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 254,472 shares of the financial services provider’s stock valued at $29,109,000 after acquiring an additional 54,340 shares in the last quarter. Institutional investors and hedge funds own 87.40% of the company’s stock.

Pinnacle Financial Partners Trading Up 0.4 %

Shares of NASDAQ PNFP opened at $105.99 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.37. Pinnacle Financial Partners has a one year low of $73.62 and a one year high of $131.91. The business has a 50-day moving average price of $115.58 and a two-hundred day moving average price of $111.73. The firm has a market capitalization of $8.20 billion, a PE ratio of 17.72 and a beta of 1.09.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.10. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. The firm had revenue of $475.34 million for the quarter, compared to the consensus estimate of $470.33 million. During the same period in the previous year, the firm posted $1.68 earnings per share. The firm’s revenue was up 19.9% on a year-over-year basis. As a group, analysts predict that Pinnacle Financial Partners will post 7.85 earnings per share for the current fiscal year.

Pinnacle Financial Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 7th were 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 dividend yield of 0.91%. The ex-dividend date was Friday, February 7th. Pinnacle Financial Partners’s dividend payout ratio is currently 16.05%.

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.