Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Get Free Report)'s share price reached a new 52-week high on Wednesday . The company traded as high as $100.68 and last traded at $99.48, with a volume of 343301 shares traded. The stock had previously closed at $96.11.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on PNFP shares. Citigroup boosted their target price on Pinnacle Financial Partners from $93.00 to $113.00 and gave the company a "buy" rating in a research report on Thursday, July 18th. Stephens reduced their target price on Pinnacle Financial Partners from $109.00 to $102.00 and set an "overweight" rating on the stock in a research note on Thursday, May 23rd. JPMorgan Chase & Co. decreased their target price on Pinnacle Financial Partners from $108.00 to $105.00 and set an "overweight" rating for the company in a research report on Thursday, June 27th. Barclays upped their price target on shares of Pinnacle Financial Partners from $93.00 to $97.00 and gave the stock an "equal weight" rating in a report on Thursday, July 18th. Finally, Piper Sandler lowered shares of Pinnacle Financial Partners from an "overweight" rating to a "neutral" rating and lifted their price objective for the company from $95.00 to $98.00 in a report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Pinnacle Financial Partners has a consensus rating of "Hold" and a consensus price target of $99.00.
View Our Latest Analysis on PNFP
Pinnacle Financial Partners Stock Performance
The firm's fifty day moving average price is $93.07 and its 200 day moving average price is $84.78. The firm has a market cap of $7.52 billion, a P/E ratio of 13.93 and a beta of 1.05. The company has a debt-to-equity ratio of 0.43, 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 data on Tuesday, July 16th. The financial services provider reported $1.63 EPS for the quarter, topping analysts' consensus estimates of $1.60 by $0.03. The company had revenue of $366.55 million during the quarter, compared to the consensus estimate of $426.40 million. Pinnacle Financial Partners had a net margin of 13.93% and a return on equity of 8.97%. Sell-side analysts expect that Pinnacle Financial Partners, Inc. will post 6.83 EPS for the current fiscal year.
Pinnacle Financial Partners Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 2nd were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Friday, August 2nd. Pinnacle Financial Partners's dividend payout ratio (DPR) is currently 12.59%.
Hedge Funds Weigh In On Pinnacle Financial Partners
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rise Advisors LLC purchased a new position in Pinnacle Financial Partners in the first quarter worth $26,000. International Assets Investment Management LLC purchased a new position in Pinnacle Financial Partners during the 2nd quarter worth $29,000. Versant Capital Management Inc grew its stake in Pinnacle Financial Partners by 44.5% during the 2nd quarter. Versant Capital Management Inc now owns 432 shares of the financial services provider's stock worth $35,000 after buying an additional 133 shares during the last quarter. ICA Group Wealth Management LLC acquired a new position in Pinnacle Financial Partners during the 4th quarter valued at about $44,000. Finally, Principal Securities Inc. purchased a new stake in Pinnacle Financial Partners in the fourth quarter valued at about $60,000. Hedge funds and other institutional investors own 87.40% of the company's stock.
About Pinnacle Financial Partners
(
Get Free Report)
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.
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