Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Given Average Rating of “Hold” by Brokerages

Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) have earned a consensus rating of “Hold” from the eleven analysts that are presently covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $113.64.

Several equities analysts recently commented on the company. Wells Fargo & Company upped their target price on Pinnacle Financial Partners from $104.00 to $120.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Truist Financial upped their price target on Pinnacle Financial Partners from $113.00 to $119.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Stephens upped their price target on Pinnacle Financial Partners from $108.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Barclays upped their price target on Pinnacle Financial Partners from $108.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Finally, Citigroup upped their price target on Pinnacle Financial Partners from $113.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th.

Insider Transactions at Pinnacle Financial Partners

In related news, Director David B. Ingram sold 3,610 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $126.07, for a total value of $455,112.70. Following the completion of the transaction, the director now owns 139,489 shares of the company’s stock, valued at approximately $17,585,378.23. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Harold R. Carpenter sold 3,051 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $125.57, for a total value 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 represents a 4.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,661 shares of company stock valued at $9,563,127 over the last quarter. Company insiders own 1.87% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PNFP. Azora Capital LP bought a new position in Pinnacle Financial Partners during the 3rd quarter worth approximately $64,326,000. Dimensional Fund Advisors LP lifted its holdings in Pinnacle Financial Partners by 10.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,094,498 shares of the financial services provider’s stock worth $247,673,000 after buying an additional 292,401 shares during the last quarter. FMR LLC lifted its holdings in Pinnacle Financial Partners by 11.6% during the 3rd quarter. FMR LLC now owns 2,716,416 shares of the financial services provider’s stock worth $266,127,000 after buying an additional 282,016 shares during the last quarter. Holocene Advisors LP bought a new position in Pinnacle Financial Partners during the 3rd quarter worth approximately $21,576,000. Finally, Principal Financial Group Inc. lifted its holdings in Pinnacle Financial Partners by 27.0% during the 3rd quarter. Principal Financial Group Inc. now owns 983,282 shares of the financial services provider’s stock worth $96,332,000 after buying an additional 208,938 shares during the last quarter. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Pinnacle Financial Partners Stock Performance

Pinnacle Financial Partners stock opened at $118.40 on Friday. The firm has a market capitalization of $9.15 billion, a P/E ratio of 22.51 and a beta of 1.08. The stock has a fifty day moving average price of $113.82 and a 200 day moving average price of $96.94. Pinnacle Financial Partners has a 52 week low of $73.62 and a 52 week high of $131.91. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.42.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its earnings results on Tuesday, October 15th. The financial services provider reported $1.86 EPS for the quarter, beating the consensus estimate of $1.79 by $0.07. The firm had revenue of $810.11 million during the quarter, compared to analyst estimates of $454.18 million. Pinnacle Financial Partners had a return on equity of 8.89% and a net margin of 13.97%. During the same period in the prior year, the firm posted $1.79 earnings per share. Equities research analysts anticipate that Pinnacle Financial Partners will post 6.8 earnings per share for the current year.

Pinnacle Financial Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 1st were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, November 1st. Pinnacle Financial Partners’s payout ratio is 16.73%.

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.