Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Receives $125.18 Average PT from Analysts

Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Get Free Report) have earned a consensus recommendation of "Hold" from the eleven research firms that are presently covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $125.18.

A number of research firms recently issued reports on PNFP. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $135.00 target price (up previously from $115.00) on shares of Pinnacle Financial Partners in a research report on Wednesday, December 4th. Wells Fargo & Company boosted their price target on Pinnacle Financial Partners from $120.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 23rd. Barclays raised Pinnacle Financial Partners from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $120.00 to $135.00 in a report on Thursday, December 19th. JPMorgan Chase & Co. lowered their target price on shares of Pinnacle Financial Partners from $140.00 to $138.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Finally, Citigroup upped their price target 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.

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Pinnacle Financial Partners Stock Up 0.5 %

NASDAQ PNFP traded up $0.54 during trading on Tuesday, hitting $106.07. The stock had a trading volume of 329,156 shares, compared to its average volume of 462,996. Pinnacle Financial Partners has a 12 month low of $73.62 and a 12 month high of $131.91. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.90 and a current ratio of 0.90. The company's 50-day moving average price is $115.71 and its two-hundred day moving average price is $111.59. The company has a market capitalization of $8.21 billion, a PE ratio of 17.74 and a beta of 1.09.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last announced its earnings results on Tuesday, January 21st. The financial services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.80 by $0.10. The business had revenue of $475.34 million during the quarter, compared to analysts' expectations of $470.33 million. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. The firm's revenue was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.68 earnings per share. As a group, sell-side analysts forecast that Pinnacle Financial Partners will post 7.85 EPS for the current year.

Pinnacle Financial Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 7th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.91%. This is a positive change from Pinnacle Financial Partners's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, February 7th. Pinnacle Financial Partners's dividend payout ratio is currently 16.05%.

Insider Transactions at Pinnacle Financial Partners

In related news, Director Glenda Baskin Glover sold 3,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was 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 in the company, valued at approximately $1,009,711.65. The trade was a 23.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David B. Ingram sold 40,000 shares of the stock in a transaction that occurred on 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 in the company, valued at $5,185,361.50. This represents a 49.39 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,350 shares of company stock valued at $11,421,320. 1.46% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in Pinnacle Financial Partners in the 4th quarter valued at about $101,798,000. North Reef Capital Management LP boosted its position in shares of Pinnacle Financial Partners by 57.1% during the 4th quarter. North Reef Capital Management LP now owns 1,940,000 shares of the financial services provider's stock worth $221,917,000 after acquiring an additional 705,000 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. bought a new position in Pinnacle Financial Partners in the fourth quarter valued at approximately $78,110,000. Azora Capital LP acquired a new position in Pinnacle Financial Partners during the third quarter valued at approximately $64,326,000. Finally, Capital Research Global Investors lifted its stake in Pinnacle Financial Partners by 57.0% during the fourth quarter. Capital Research Global Investors now owns 1,559,798 shares of the financial services provider's stock worth $178,425,000 after purchasing an additional 566,061 shares during the last quarter. Institutional investors and hedge funds own 87.40% of the company's stock.

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.