Pinnacle Financial Partners (NASDAQ:PNFP) Given New $125.00 Price Target at Barclays

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) had its price objective cut by stock analysts at Barclays from $135.00 to $125.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. Barclays's price target would suggest a potential upside of 38.83% from the company's current price.

Several other analysts have also commented on the stock. Citigroup lifted their price objective on shares of Pinnacle Financial Partners from $123.00 to $132.00 and gave the stock a "buy" rating in a research report on Tuesday, December 31st. UBS Group began coverage on Pinnacle Financial Partners in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $133.00 price objective on the stock. JPMorgan Chase & Co. decreased their target price on Pinnacle Financial Partners from $140.00 to $138.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Wells Fargo & Company upped their price target on Pinnacle Financial Partners from $120.00 to $125.00 and gave the company an "equal weight" rating in a research report on Thursday, January 23rd. Finally, Stephens reissued an "overweight" rating and issued a $142.00 price objective on shares of Pinnacle Financial Partners in a report on Wednesday, January 22nd. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $124.70.

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Pinnacle Financial Partners Stock Down 0.3 %

NASDAQ:PNFP traded down $0.29 on Tuesday, hitting $90.04. The stock had a trading volume of 821,787 shares, compared to its average volume of 497,697. Pinnacle Financial Partners has a 1 year low of $73.62 and a 1 year high of $131.91. The firm's fifty day simple moving average is $107.69 and its two-hundred day simple moving average is $111.93. The stock has a market cap of $6.97 billion, a P/E ratio of 15.06 and a beta of 0.94. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.90 and a current ratio of 0.90.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last issued its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.90 EPS for the quarter, topping analysts' consensus estimates of $1.80 by $0.10. The business had revenue of $475.34 million for the quarter, compared to analyst estimates of $470.33 million. Pinnacle Financial Partners had a return on equity of 9.04% and a net margin of 15.48%. Pinnacle Financial Partners's quarterly revenue was up 19.9% compared to the same quarter last year. During the same period last year, the company posted $1.68 earnings per share. Analysts predict that Pinnacle Financial Partners will post 7.85 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO M Terry Turner sold 2,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $100.63, for a total value of $201,260.00. Following the transaction, the chief executive officer now owns 254,552 shares of the company's stock, valued at $25,615,567.76. This represents a 0.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David B. Ingram sold 40,000 shares of Pinnacle Financial Partners stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $126.50, for a total value of $5,060,000.00. Following the sale, the director now directly owns 40,991 shares of the company's stock, valued at approximately $5,185,361.50. This trade represents a 49.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 95,350 shares of company stock worth $11,421,320 over the last ninety days. 1.46% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pinnacle Financial Partners

A number of large investors have recently modified their holdings of PNFP. Principal Securities Inc. grew its position in Pinnacle Financial Partners by 12.7% during the fourth quarter. Principal Securities Inc. now owns 808 shares of the financial services provider's stock valued at $92,000 after acquiring an additional 91 shares during the last quarter. Sage Mountain Advisors LLC grew its holdings in shares of Pinnacle Financial Partners by 0.3% during the 4th quarter. Sage Mountain Advisors LLC now owns 36,198 shares of the financial services provider's stock valued at $4,141,000 after purchasing an additional 99 shares during the last quarter. Utah Retirement Systems raised its position in Pinnacle Financial Partners by 2.5% in the 4th quarter. Utah Retirement Systems now owns 4,090 shares of the financial services provider's stock worth $468,000 after purchasing an additional 100 shares during the period. First Horizon Advisors Inc. lifted its stake in Pinnacle Financial Partners by 3.1% in the fourth quarter. First Horizon Advisors Inc. now owns 3,399 shares of the financial services provider's stock worth $389,000 after purchasing an additional 102 shares during the last quarter. Finally, Cahaba Wealth Management Inc. boosted its position in Pinnacle Financial Partners by 1.7% during the fourth quarter. Cahaba Wealth Management Inc. now owns 6,625 shares of the financial services provider's stock valued at $758,000 after buying an additional 113 shares during the period. 87.40% of the stock is owned by hedge funds and other institutional investors.

About Pinnacle Financial Partners

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.