Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Receives $125.18 Consensus Price Target from Brokerages

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Get Free Report) has been given a consensus recommendation of "Hold" by the eleven ratings firms that are currently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $125.18.

A number of research analysts have issued reports on the company. Barclays upgraded Pinnacle Financial Partners from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $120.00 to $135.00 in a research note on Thursday, December 19th. Stephens reiterated an "overweight" rating and issued a $142.00 price target on shares of Pinnacle Financial Partners in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. dropped their price target on shares of Pinnacle Financial Partners from $140.00 to $138.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Hovde Group cut shares of Pinnacle Financial Partners from an "outperform" rating to a "market perform" rating and set a $135.00 price target on the stock. in a report on Monday, November 18th. Finally, Wells Fargo & Company increased their price target on shares of Pinnacle Financial Partners from $120.00 to $125.00 and gave the company an "equal weight" rating in a report on Thursday, January 23rd.

Insider Activity at Pinnacle Financial Partners

In related news, Director David B. Ingram sold 20,000 shares of the company's stock in a transaction on Friday, December 6th. The shares were sold at an average price of $126.02, for a total transaction of $2,520,400.00. Following the sale, the director now owns 92,565 shares of the company's stock, valued at $11,665,041.30. This represents a 17.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 transaction 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 approximately $7,635,283.85. The trade was a 4.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 126,970 shares of company stock valued at $15,922,061. 1.87% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pinnacle Financial Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PNFP. Forum Financial Management LP raised its position in Pinnacle Financial Partners by 19.4% in the 4th quarter. Forum Financial Management LP now owns 2,660 shares of the financial services provider's stock worth $304,000 after purchasing an additional 433 shares during the period. Sunbeam Capital Management LLC bought a new stake in shares of Pinnacle Financial Partners during the 4th quarter worth approximately $1,131,000. GTS Securities LLC bought a new stake in shares of Pinnacle Financial Partners during the 4th quarter worth approximately $398,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Pinnacle Financial Partners by 27.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 254,472 shares of the financial services provider's stock worth $29,109,000 after acquiring an additional 54,340 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new stake in shares of Pinnacle Financial Partners during the 4th quarter worth approximately $2,937,000. 87.40% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Trading Down 3.4 %

NASDAQ:PNFP traded down $4.07 during mid-day trading on Friday, reaching $114.21. 304,709 shares of the company's stock traded hands, compared to its average volume of 431,933. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $8.82 billion, a price-to-earnings ratio of 19.10 and a beta of 1.09. The company has a 50 day moving average price of $118.68 and a 200-day moving average price of $109.45. Pinnacle Financial Partners has a 12-month low of $73.62 and a 12-month high of $131.91.

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 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.10. Pinnacle Financial Partners had a return on equity of 9.04% and a net margin of 15.48%. The company had revenue of $475.34 million for the quarter, compared to analysts' expectations of $470.33 million. During the same period in the prior year, the firm earned $1.68 earnings per share. The firm's revenue for the quarter was up 19.9% on a year-over-year basis. On average, sell-side analysts predict that Pinnacle Financial Partners will post 7.85 earnings per share for the current year.

Pinnacle Financial Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 7th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Friday, February 7th. This is a positive change from Pinnacle Financial Partners's previous quarterly dividend of $0.22. Pinnacle Financial Partners's dividend payout ratio is presently 16.05%.

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.