Pinnacle Financial Partners, Inc. (PNFP) Receives Average Rating of “Hold” from Brokerages

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) has received an average recommendation of “Hold” from the seven analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $73.00.

Several brokerages have recently issued reports on PNFP. Hilliard Lyons upgraded Pinnacle Financial Partners from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 8th. Zacks Investment Research upgraded Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Friday, October 20th. SunTrust Banks, Inc. restated a “buy” rating and issued a $74.00 price objective on shares of Pinnacle Financial Partners in a research note on Friday, October 20th. Piper Jaffray Companies restated a “buy” rating and issued a $74.00 price objective on shares of Pinnacle Financial Partners in a research note on Thursday, October 19th. Finally, BidaskClub cut Pinnacle Financial Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th.

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Shares of Pinnacle Financial Partners (NASDAQ PNFP) traded up $0.55 during trading hours on Friday, hitting $65.50. The stock had a trading volume of 280,935 shares, compared to its average volume of 412,286. Pinnacle Financial Partners has a 1 year low of $58.40 and a 1 year high of $71.85. The stock has a market capitalization of $5,090.85, a PE ratio of 19.26, a price-to-earnings-growth ratio of 1.53 and a beta of 1.32. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.98 and a current ratio of 0.99.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $216.20 million during the quarter, compared to analysts’ expectations of $217.13 million. During the same period last year, the business posted $0.78 earnings per share. The company’s revenue for the quarter was up 102.8% compared to the same quarter last year. research analysts expect that Pinnacle Financial Partners will post 3.56 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Friday, November 3rd will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, November 2nd. Pinnacle Financial Partners’s dividend payout ratio is currently 17.34%.

In related news, CFO Harold R. Carpenter sold 17,711 shares of Pinnacle Financial Partners stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $67.45, for a total transaction of $1,194,606.95. Following the completion of the transaction, the chief financial officer now directly owns 107,090 shares in the company, valued at $7,223,220.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $60.45, for a total value of $181,350.00. Following the transaction, the insider now owns 61,794 shares of the company’s stock, valued at $3,735,447.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,711 shares of company stock valued at $4,466,727. 5.41% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of PNFP. Advisor Group Inc. increased its position in shares of Pinnacle Financial Partners by 14.5% in the second quarter. Advisor Group Inc. now owns 2,294 shares of the financial services provider’s stock valued at $144,000 after buying an additional 291 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of 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 buying an additional 935 shares in the last quarter. Creative Planning increased its position in shares of 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 buying an additional 1,611 shares in the last quarter. Riverhead Capital Management LLC increased its position in shares of 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 buying an additional 2,096 shares in the last quarter. Finally, South State Corp purchased a new stake in shares of Pinnacle Financial Partners in the second quarter valued at approximately $223,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

About Pinnacle Financial Partners

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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