Pinnacle Financial Partners (NASDAQ:PNFP) Rating Reiterated by Stephens

Pinnacle Financial Partners (NASDAQ:PNFP)‘s stock had its “overweight” rating reiterated by stock analysts at Stephens in a report released on Tuesday, Benzinga reports. They currently have a $109.00 price target on the financial services provider’s stock. Stephens’ price objective points to a potential upside of 31.39% from the company’s previous close.

A number of other research firms have also recently issued reports on PNFP. Jefferies Financial Group cut their target price on shares of Pinnacle Financial Partners from $88.00 to $85.00 and set a “hold” rating for the company in a research note on Monday, April 8th. UBS Group decreased their price target on shares of Pinnacle Financial Partners from $91.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, January 18th. Truist Financial lifted their price target on shares of Pinnacle Financial Partners from $93.00 to $99.00 and gave the company a “buy” rating in a report on Monday, April 1st. Finally, Barclays began coverage on shares of Pinnacle Financial Partners in a report on Friday, March 8th. They set an “equal weight” rating and a $93.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $96.13.

Pinnacle Financial Partners Stock Performance

NASDAQ PNFP opened at $82.96 on Tuesday. The firm has a 50-day moving average of $82.35 and a 200-day moving average of $79.18. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market cap of $6.39 billion, a PE ratio of 11.87 and a beta of 1.08. Pinnacle Financial Partners has a 52-week low of $43.31 and a 52-week high of $92.33.

Insider Buying and Selling at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, CFO Harold R. Carpenter sold 6,306 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total transaction of $518,479.32. Following the completion of the sale, the chief financial officer now owns 63,856 shares in the company, valued at approximately $5,250,240.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Harold R. Carpenter sold 6,306 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total transaction of $518,479.32. Following the completion of the sale, the chief financial officer now owns 63,856 shares in the company, valued at $5,250,240.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO M Terry Turner sold 24,057 shares of Pinnacle Financial Partners stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $82.22, for a total transaction of $1,977,966.54. Following the completion of the transaction, the chief executive officer now owns 294,790 shares of the company’s stock, valued at approximately $24,237,633.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,844 shares of company stock worth $3,933,734. 1.87% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pinnacle Financial Partners

Several large investors have recently modified their holdings of PNFP. Wasatch Advisors LP increased its stake in shares of Pinnacle Financial Partners by 41.8% in the first quarter. Wasatch Advisors LP now owns 3,341,417 shares of the financial services provider’s stock worth $286,961,000 after purchasing an additional 985,694 shares in the last quarter. Norges Bank bought a new stake in shares of Pinnacle Financial Partners in the 4th quarter worth approximately $83,461,000. Wellington Management Group LLP lifted its holdings in shares of Pinnacle Financial Partners by 102.7% in the 3rd quarter. Wellington Management Group LLP now owns 1,870,441 shares of the financial services provider’s stock worth $125,394,000 after acquiring an additional 947,704 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Pinnacle Financial Partners by 185.5% in the 4th quarter. Principal Financial Group Inc. now owns 808,135 shares of the financial services provider’s stock worth $70,486,000 after acquiring an additional 525,101 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Pinnacle Financial Partners by 14.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,647,881 shares of the financial services provider’s stock worth $230,951,000 after acquiring an additional 334,502 shares during the last quarter. Hedge funds and other institutional investors own 87.40% of the company’s stock.

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.