Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) have been assigned an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $95.50.

A number of brokerages have issued reports on PNFP. Barclays initiated coverage on shares of Pinnacle Financial Partners in a report on Friday, March 8th. They issued an “equal weight” rating and a $93.00 target price on the stock. Jefferies Financial Group cut their price target on Pinnacle Financial Partners from $88.00 to $85.00 and set a “hold” rating on the stock in a report on Monday, April 8th. JPMorgan Chase & Co. lowered their price objective on Pinnacle Financial Partners from $110.00 to $108.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. Truist Financial dropped their target price on Pinnacle Financial Partners from $99.00 to $94.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, Stephens reissued an “overweight” rating and set a $109.00 price target on shares of Pinnacle Financial Partners in a report on Tuesday, April 23rd.

Insider Activity

In related news, CEO M Terry Turner sold 72,000 shares of Pinnacle Financial Partners stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $80.97, for a total transaction of $5,829,840.00. Following the completion of the sale, the chief executive officer now owns 222,790 shares of the company’s stock, valued at $18,039,306.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Pinnacle Financial Partners news, CEO M Terry Turner sold 72,000 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $80.97, for a total transaction of $5,829,840.00. Following the completion of the sale, the chief executive officer now owns 222,790 shares of the company’s stock, valued at $18,039,306.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Robert A. Mccabe, Jr. sold 115,249 shares of Pinnacle Financial Partners stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $81.04, for a total value of $9,339,778.96. Following the completion of the transaction, the chairman now directly owns 153,062 shares in the company, valued at $12,404,144.48. The disclosure for this sale can be found here. Insiders have sold 235,093 shares of company stock worth $19,103,353 in the last 90 days. Company insiders own 1.87% of the company’s stock.

Institutional Trading of Pinnacle Financial Partners

Several institutional investors have recently modified their holdings of the company. Rise Advisors LLC acquired a new stake in shares of Pinnacle Financial Partners during the 1st quarter valued at about $26,000. Bruce G. Allen Investments LLC acquired a new stake in Pinnacle Financial Partners during the 4th quarter worth $32,000. Emerald Advisers LLC bought a new stake in Pinnacle Financial Partners during the 3rd quarter worth approximately $27,000. Fifth Third Bancorp boosted its stake in Pinnacle Financial Partners by 101.4% in the 3rd quarter. Fifth Third Bancorp now owns 423 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 213 shares during the period. Finally, ICA Group Wealth Management LLC bought a new stake in Pinnacle Financial Partners in the 4th quarter valued at approximately $44,000. Institutional investors and hedge funds own 87.40% of the company’s stock.

Pinnacle Financial Partners Stock Up 1.7 %

Shares of NASDAQ:PNFP opened at $82.19 on Friday. The company’s fifty day moving average is $81.76 and its two-hundred day moving average is $79.70. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 0.90. Pinnacle Financial Partners has a 1-year low of $43.31 and a 1-year high of $92.33. The stock has a market capitalization of $6.34 billion, a price-to-earnings ratio of 11.76 and a beta of 1.09.

Pinnacle Financial Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 3rd will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.07%. The ex-dividend date is Thursday, May 2nd. Pinnacle Financial Partners’s payout ratio is 12.59%.

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.