Pinnacle Financial Partners (NASDAQ:PNFP) Price Target Lowered to $115.00 at Keefe, Bruyette & Woods

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) had its price target decreased by Keefe, Bruyette & Woods from $130.00 to $115.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "market perform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' target price indicates a potential upside of 20.20% from the stock's current price.

Several other equities research analysts have also recently commented on the company. Citigroup increased their price target on Pinnacle Financial Partners from $123.00 to $132.00 and gave the company a "buy" rating in a report on Tuesday, December 31st. JPMorgan Chase & Co. cut their price objective on shares of Pinnacle Financial Partners from $125.00 to $115.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Stephens reiterated an "overweight" rating and issued a $142.00 target price on shares of Pinnacle Financial Partners in a report on Wednesday, January 22nd. Hovde Group raised shares of Pinnacle Financial Partners from a "market perform" rating to an "outperform" rating and set a $111.00 price target on the stock in a research report on Wednesday, April 16th. Finally, Wells Fargo & Company cut their target price on Pinnacle Financial Partners from $125.00 to $105.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $119.50.

Pinnacle Financial Partners Price Performance

Shares of NASDAQ PNFP traded up $1.99 during midday trading on Thursday, hitting $95.67. The stock had a trading volume of 99,483 shares, compared to its average volume of 506,285. The stock has a 50 day simple moving average of $104.19 and a 200-day simple moving average of $112.00. Pinnacle Financial Partners has a 1 year low of $73.62 and a 1 year high of $131.91. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $7.40 billion, a PE ratio of 15.97 and a beta of 0.94.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last released its earnings results on Monday, April 14th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.82 by $0.08. The business had revenue of $475.37 million during the quarter, compared to analyst estimates of $478.11 million. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. During the same quarter in the prior year, the firm earned $1.53 earnings per share. On average, sell-side analysts expect that Pinnacle Financial Partners will post 7.85 EPS for the current fiscal year.

Insider Activity at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, Director David B. Ingram sold 40,000 shares of the firm's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $126.50, for a total transaction of $5,060,000.00. Following the transaction, the director now 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Glenda Baskin Glover sold 3,000 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $101.55, for a total value of $304,650.00. Following the completion of the sale, the director now directly owns 9,943 shares of the company's stock, valued at $1,009,711.65. The trade was a 23.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 95,350 shares of company stock valued at $11,421,320 in the last ninety days. Insiders own 1.46% of the company's stock.

Hedge Funds Weigh In On Pinnacle Financial Partners

A number of institutional investors have recently modified their holdings of PNFP. Woodmont Investment Counsel LLC increased its stake in Pinnacle Financial Partners by 0.8% in the first quarter. Woodmont Investment Counsel LLC now owns 61,432 shares of the financial services provider's stock valued at $6,514,000 after purchasing an additional 510 shares during the period. Riverwater Partners LLC purchased a new position in shares of Pinnacle Financial Partners in the 1st quarter valued at approximately $1,151,000. State of Alaska Department of Revenue increased its holdings in shares of Pinnacle Financial Partners by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 8,967 shares of the financial services provider's stock valued at $950,000 after purchasing an additional 240 shares during the period. Vicus Capital raised its stake in shares of Pinnacle Financial Partners by 18.5% during the first quarter. Vicus Capital now owns 2,114 shares of the financial services provider's stock worth $224,000 after purchasing an additional 330 shares during the last quarter. Finally, Sowell Financial Services LLC increased its stake in Pinnacle Financial Partners by 1.9% in the 1st quarter. Sowell Financial Services LLC now owns 10,603 shares of the financial services provider's stock valued at $1,124,000 after buying an additional 194 shares during the period. 87.40% of the stock is owned by institutional investors and hedge funds.

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.