Wells Fargo & Company Has Lowered Expectations for Pinnacle Financial Partners (NASDAQ:PNFP) Stock Price

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) had its price objective lowered by analysts at Wells Fargo & Company from $125.00 to $105.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the financial services provider's stock. Wells Fargo & Company's price objective would indicate a potential upside of 16.61% from the company's current price.

Other analysts have also recently issued reports about the company. UBS Group started coverage on Pinnacle Financial Partners in a research report on Tuesday, December 17th. They issued a "neutral" rating and a $133.00 price objective for the company. Hovde Group cut their price target on shares of Pinnacle Financial Partners from $135.00 to $120.00 and set a "market perform" rating for the company in a report on Wednesday, April 2nd. Stephens reaffirmed an "overweight" rating and set a $142.00 price objective on shares of Pinnacle Financial Partners in a report on Wednesday, January 22nd. JPMorgan Chase & Co. cut their target price on shares of Pinnacle Financial Partners from $140.00 to $138.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Finally, Barclays reduced their price target on shares of Pinnacle Financial Partners from $135.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $124.70.

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Pinnacle Financial Partners Stock Performance

PNFP traded down $0.29 during trading on Wednesday, reaching $90.04. 821,787 shares of the company's stock were exchanged, compared to its average volume of 497,697. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.90 and a quick ratio of 0.90. Pinnacle Financial Partners has a 1 year low of $73.62 and a 1 year high of $131.91. The company's fifty day simple moving average is $107.69 and its 200-day simple moving average is $111.93. The stock has a market capitalization of $6.97 billion, a P/E ratio of 15.06 and a beta of 0.94.

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

Insider Buying and Selling

In related news, CEO M Terry Turner sold 2,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $100.63, for a total value of $201,260.00. Following the transaction, the chief executive officer now owns 254,552 shares of the company's stock, valued at $25,615,567.76. This represents a 0.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David B. Ingram sold 40,000 shares of the company's stock in a transaction dated 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 transaction, the director now directly owns 40,991 shares of the company's stock, valued at approximately $5,185,361.50. This represents a 49.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,350 shares of company stock valued at $11,421,320. Corporate insiders own 1.46% of the company's stock.

Institutional Trading of Pinnacle Financial Partners

Several institutional investors have recently modified their holdings of PNFP. Kapitalo Investimentos Ltda purchased a new stake in shares of Pinnacle Financial Partners in the 4th quarter valued at about $78,000. UMB Bank n.a. lifted its stake in Pinnacle Financial Partners by 48.1% in the fourth quarter. UMB Bank n.a. now owns 736 shares of the financial services provider's stock valued at $84,000 after buying an additional 239 shares during the last quarter. Principal Securities Inc. boosted its holdings in shares of Pinnacle Financial Partners by 12.7% in the fourth quarter. Principal Securities Inc. now owns 808 shares of the financial services provider's stock valued at $92,000 after acquiring an additional 91 shares during the period. Trust Co. of Vermont acquired a new stake in shares of Pinnacle Financial Partners in the fourth quarter valued at approximately $97,000. Finally, Values First Advisors Inc. grew its position in shares of Pinnacle Financial Partners by 189.9% during the fourth quarter. Values First Advisors Inc. now owns 1,458 shares of the financial services provider's stock worth $167,000 after acquiring an additional 955 shares during the last quarter. Hedge funds and other institutional investors own 87.40% of the company's stock.

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.