Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Receives $119.73 Consensus PT from Brokerages

Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Get Free Report) have been assigned a consensus recommendation of "Hold" from the eleven analysts that are covering the company, 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 price objective among analysts that have issued a report on the stock in the last year is $119.73.

Several equities analysts have recently issued reports on PNFP shares. Stephens upped their target price on Pinnacle Financial Partners from $108.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. Barclays raised shares of Pinnacle Financial Partners from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $120.00 to $135.00 in a research report on Thursday, December 19th. Hovde Group downgraded shares of Pinnacle Financial Partners from an "outperform" rating to a "market perform" rating and set a $135.00 price objective for the company. in a report on Monday, November 18th. UBS Group began coverage on Pinnacle Financial Partners in a research report on Tuesday, December 17th. They set a "neutral" rating and a $133.00 target price on the stock. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $135.00 price objective (up from $115.00) on shares of Pinnacle Financial Partners in a research note on Wednesday, December 4th.

Pinnacle Financial Partners Price Performance

Shares of PNFP traded down $0.87 during trading hours on Thursday, reaching $113.52. The stock had a trading volume of 337,610 shares, compared to its average volume of 471,843. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.90 and a current ratio of 0.90. Pinnacle Financial Partners has a 12 month low of $73.62 and a 12 month high of $131.91. The stock has a market capitalization of $8.77 billion, a PE ratio of 21.58 and a beta of 1.08. The company's 50-day moving average is $117.88 and its two-hundred day moving average is $100.77.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $1.86 EPS for the quarter, beating analysts' consensus estimates of $1.79 by $0.07. Pinnacle Financial Partners had a return on equity of 8.89% and a net margin of 13.97%. The firm had revenue of $810.11 million for the quarter, compared to analyst estimates of $454.18 million. During the same period last year, the firm posted $1.79 earnings per share. Research analysts expect that Pinnacle Financial Partners will post 6.8 EPS for the current year.

Pinnacle Financial Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 1st were given a $0.22 dividend. The ex-dividend date was Friday, November 1st. This represents a $0.88 annualized dividend and a yield of 0.78%. Pinnacle Financial Partners's dividend payout ratio (DPR) is presently 16.73%.

Insider Buying and Selling at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, Chairman Robert A. Mccabe, Jr. sold 50,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $124.09, for a total value of $6,204,500.00. Following the transaction, the chairman now directly owns 123,000 shares of the company's stock, valued at $15,263,070. The trade was a 28.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David B. Ingram sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $126.02, for a total transaction of $2,520,400.00. Following the completion of the transaction, the director now owns 92,565 shares in the company, valued at $11,665,041.30. This represents a 17.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,661 shares of company stock worth $9,563,127 over the last 90 days. Corporate insiders own 1.87% of the company's stock.

Institutional Investors Weigh In On Pinnacle Financial Partners

A number of large investors have recently made changes to their positions in the business. Victory Capital Management Inc. lifted its stake in Pinnacle Financial Partners by 17.9% in the third quarter. Victory Capital Management Inc. now owns 186,612 shares of the financial services provider's stock worth $18,282,000 after acquiring an additional 28,327 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Pinnacle Financial Partners during the third quarter valued at about $3,606,000. Pier Capital LLC raised its stake in Pinnacle Financial Partners by 16.5% in the second quarter. Pier Capital LLC now owns 111,797 shares of the financial services provider's stock worth $8,948,000 after buying an additional 15,797 shares in the last quarter. Edgestream Partners L.P. boosted its position in Pinnacle Financial Partners by 1,017.9% during the 2nd quarter. Edgestream Partners L.P. now owns 71,064 shares of the financial services provider's stock valued at $5,688,000 after acquiring an additional 64,707 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Pinnacle Financial Partners by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 920,088 shares of the financial services provider's stock worth $90,141,000 after acquiring an additional 9,856 shares in the last quarter. 87.40% of the stock is currently owned by 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.