UBS Group began coverage on shares of Pinnacle Financial Partners (NASDAQ:PNFP - Free Report) in a report released on Tuesday morning, Marketbeat reports. The firm issued a neutral rating and a $133.00 target price on the financial services provider's stock.
Several other equities analysts have also recently weighed in on PNFP. Truist Financial lifted their price objective on Pinnacle Financial Partners from $113.00 to $119.00 and gave the company a "buy" rating in a report on Monday, October 21st. Citigroup raised their price target on Pinnacle Financial Partners from $113.00 to $123.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. Stephens upped their price objective on shares of Pinnacle Financial Partners from $108.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, October 17th. Barclays raised their target price on shares of Pinnacle Financial Partners from $108.00 to $120.00 and gave the company an "equal weight" rating in a report on Thursday, December 5th. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $135.00 price target (up previously from $115.00) on shares of Pinnacle Financial Partners in a report on Wednesday, December 4th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $117.55.
Check Out Our Latest Report on Pinnacle Financial Partners
Pinnacle Financial Partners Stock Performance
Shares of Pinnacle Financial Partners stock traded down $1.72 during trading on Tuesday, reaching $117.03. The company's stock had a trading volume of 537,235 shares, compared to its average volume of 472,070. Pinnacle Financial Partners has a 52 week low of $73.62 and a 52 week high of $131.91. The firm has a market cap of $9.04 billion, a PE ratio of 22.19 and a beta of 1.08. The business's 50-day moving average price is $114.72 and its 200-day moving average price is $97.77. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.42.
Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $1.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.79 by $0.07. Pinnacle Financial Partners had a net margin of 13.97% and a return on equity of 8.89%. The firm had revenue of $810.11 million for the quarter, compared to analyst estimates of $454.18 million. During the same quarter in the prior year, the business posted $1.79 EPS. Equities analysts forecast that Pinnacle Financial Partners will post 6.8 earnings per share for the current year.
Pinnacle Financial Partners Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 1st were paid a dividend of $0.22 per share. The ex-dividend date was Friday, November 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.75%. Pinnacle Financial Partners's payout ratio is presently 16.73%.
Insider Activity
In other Pinnacle Financial Partners news, Director David B. Ingram sold 20,000 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $126.02, for a total value of $2,520,400.00. Following the completion of the transaction, the director now directly owns 92,565 shares in the company, valued at approximately $11,665,041.30. This trade 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 can be accessed through this link. Also, Chairman Robert A. Mccabe, Jr. sold 50,000 shares of the firm's stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $124.09, for a total transaction of $6,204,500.00. Following the completion of the transaction, the chairman now owns 123,000 shares of the company's stock, valued at approximately $15,263,070. This trade represents a 28.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,661 shares of company stock worth $9,563,127. Insiders own 1.87% of the company's stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC bought a new position in shares of Pinnacle Financial Partners during the second quarter worth about $29,000. Ashton Thomas Securities LLC bought a new position in Pinnacle Financial Partners during the 3rd quarter worth approximately $30,000. UMB Bank n.a. lifted its position in shares of Pinnacle Financial Partners by 83.4% in the 3rd quarter. UMB Bank n.a. now owns 497 shares of the financial services provider's stock worth $49,000 after purchasing an additional 226 shares during the period. Values First Advisors Inc. bought a new stake in shares of Pinnacle Financial Partners in the 3rd quarter valued at $49,000. Finally, Quarry LP increased its position in shares of Pinnacle Financial Partners by 3,500.0% during the second quarter. Quarry LP now owns 756 shares of the financial services provider's stock worth $61,000 after buying an additional 735 shares during the period. 87.40% of the stock is owned by institutional investors and hedge funds.
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.
See Also
Before you consider Pinnacle Financial Partners, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Pinnacle Financial Partners wasn't on the list.
While Pinnacle Financial Partners currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of the 10 best stocks to own in 2025 and why they should be in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.