Pinnacle Financial Partners (PNFP) Upgraded at UBS

UBS upgraded shares of Pinnacle Financial Partners (NASDAQ:PNFP) from a market perform rating to an outperform rating in a report released on Tuesday morning, The Fly reports.

Several other research firms have also recently commented on PNFP. Wells Fargo started coverage on Pinnacle Financial Partners in a research note on Thursday, December 21st. They set an outperform rating and a $80.00 price target for the company. BidaskClub upgraded Pinnacle Financial Partners from a sell rating to a hold rating in a research note on Wednesday, December 20th. Zacks Investment Research upgraded Pinnacle Financial Partners from a hold rating to a buy rating and set a $76.00 price target for the company in a research note on Wednesday, December 20th. Stephens upgraded Pinnacle Financial Partners from an equal weight rating to an overweight rating in a research note on Monday, February 5th. Finally, SunTrust Banks cut their price target on Pinnacle Financial Partners to $80.00 and set a buy rating for the company in a research note on Thursday, January 18th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Pinnacle Financial Partners presently has an average rating of Buy and an average target price of $73.13.

Pinnacle Financial Partners stock opened at $65.70 on Tuesday. Pinnacle Financial Partners has a 12 month low of $58.40 and a 12 month high of $70.30. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.00 and a quick ratio of 0.99. The company has a market cap of $5,047.08, a PE ratio of 18.40, a P/E/G ratio of 0.98 and a beta of 1.04.



Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.03. Pinnacle Financial Partners had a return on equity of 7.24% and a net margin of 22.27%. The business had revenue of $211.20 million during the quarter, compared to analysts’ expectations of $224.62 million. During the same quarter in the prior year, the business earned $0.83 earnings per share. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. sell-side analysts anticipate that Pinnacle Financial Partners will post 4.72 EPS for the current fiscal year.

In other Pinnacle Financial Partners news, Vice Chairman Ronald L. Samuel sold 3,000 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $63.47, for a total value of $190,410.00. Following the completion of the transaction, the insider now owns 46,794 shares in the company, valued at $2,970,015.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ed C. Loughry, Jr. sold 1,873 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $64.30, for a total value of $120,433.90. Following the completion of the transaction, the director now owns 95,109 shares of the company’s stock, valued at approximately $6,115,508.70. The disclosure for this sale can be found here. Insiders sold 102,711 shares of company stock valued at $6,908,315 in the last quarter. 3.39% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Whittier Trust Co. purchased a new position in Pinnacle Financial Partners in the fourth quarter worth $119,000. Tower Research Capital LLC TRC raised its position in Pinnacle Financial Partners by 252.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,929 shares of the financial services provider’s stock worth $128,000 after acquiring an additional 1,381 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Pinnacle Financial Partners by 130.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,300 shares of the financial services provider’s stock worth $152,000 after acquiring an additional 1,300 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Pinnacle Financial Partners by 49.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,681 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 1,217 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in Pinnacle Financial Partners by 44.8% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,486 shares of the financial services provider’s stock worth $300,000 after acquiring an additional 1,389 shares in the last quarter. Hedge funds and other institutional investors own 72.14% of the company’s stock.

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About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc operates as a bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The company accepts various deposits, including savings, checking, interest-bearing checking, money market, and certificate of deposit accounts.

The Fly

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