Pinnacle Financial Partners, Inc. (PNFP) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) have received an average rating of “Hold” from the seven research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $73.00.

PNFP has been the topic of a number of recent research reports. Hilliard Lyons lowered Pinnacle Financial Partners from a “buy” rating to a “neutral” rating and set a $74.00 price objective on the stock. in a research report on Friday, October 20th. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $74.00 price objective on shares of Pinnacle Financial Partners in a research report on Friday, October 20th. Zacks Investment Research lowered Pinnacle Financial Partners from a “buy” rating to a “sell” rating in a research report on Wednesday, October 11th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $72.00 price objective on shares of Pinnacle Financial Partners in a research report on Thursday, October 5th. Finally, BidaskClub lowered Pinnacle Financial Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th.

In related news, Vice Chairman Ronald L. Samuel sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $67.28, for a total transaction of $201,840.00. Following the completion of the transaction, the insider now owns 55,794 shares in the company, valued at $3,753,820.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Joseph C. Galante bought 1,000 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were purchased at an average price of $59.40 per share, with a total value of $59,400.00. Following the purchase, the director now owns 19,011 shares of the company’s stock, valued at approximately $1,129,253.40. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 63,711 shares of company stock valued at $4,285,377. Insiders own 5.41% of the company’s stock.

Several hedge funds have recently modified their holdings of PNFP. Advisor Group Inc. grew its stake in shares of Pinnacle Financial Partners by 14.5% during the second quarter. Advisor Group Inc. now owns 2,294 shares of the financial services provider’s stock worth $144,000 after purchasing an additional 291 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Pinnacle Financial Partners by 61.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,464 shares of the financial services provider’s stock valued at $155,000 after acquiring an additional 935 shares in the last quarter. Creative Planning boosted its stake in Pinnacle Financial Partners by 100.2% in the second quarter. Creative Planning now owns 3,218 shares of the financial services provider’s stock valued at $202,000 after acquiring an additional 1,611 shares in the last quarter. Riverhead Capital Management LLC boosted its stake in Pinnacle Financial Partners by 149.7% in the second quarter. Riverhead Capital Management LLC now owns 3,496 shares of the financial services provider’s stock valued at $220,000 after acquiring an additional 2,096 shares in the last quarter. Finally, South State Corp acquired a new position in Pinnacle Financial Partners in the second quarter valued at $223,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Pinnacle Financial Partners (NASDAQ:PNFP) traded down $0.45 during trading on Friday, hitting $65.10. The stock had a trading volume of 106,249 shares, compared to its average volume of 470,028. Pinnacle Financial Partners has a 1-year low of $58.40 and a 1-year high of $71.85. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $5,094.73, a price-to-earnings ratio of 19.28, a P/E/G ratio of 1.54 and a beta of 1.32.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. Pinnacle Financial Partners had a return on equity of 7.36% and a net margin of 27.41%. The business had revenue of $216.20 million for the quarter, compared to analyst estimates of $217.13 million. During the same quarter in the prior year, the company earned $0.78 earnings per share. The company’s revenue was up 102.8% on a year-over-year basis. equities research analysts expect that Pinnacle Financial Partners will post 3.56 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Friday, November 3rd will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.86%. Pinnacle Financial Partners’s payout ratio is currently 17.34%.

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Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc is a bank holding company. The Company operates through its subsidiary, Pinnacle Bank. The Company operates as a community bank primarily in the urban markets of Nashville, Knoxville, Memphis and Chattanooga, Tennessee and other counties. It provides the personalized service associated with small community banks, while seeking to offer the products and services, such as investments and treasury management.

Analyst Recommendations for Pinnacle Financial Partners (NASDAQ:PNFP)

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