Sandler O’Neill set a $76.00 price target on Pinnacle Financial Partners (NASDAQ:PNFP) in a research note issued to investors on Thursday. The firm currently has a buy rating on the financial services provider’s stock.
Other equities analysts also recently issued reports about the company. Piper Jaffray Companies restated a buy rating and issued a $74.00 target price on shares of Pinnacle Financial Partners in a research note on Thursday, October 19th. Hilliard Lyons downgraded Pinnacle Financial Partners from a buy rating to a neutral rating and set a $74.00 target price for the company. in a research note on Friday, October 20th. BidaskClub downgraded Pinnacle Financial Partners from a hold rating to a sell rating in a research note on Thursday, January 4th. Zacks Investment Research downgraded Pinnacle Financial Partners from a buy rating to a sell rating in a research note on Wednesday, October 11th. Finally, SunTrust Banks decreased their target price on Pinnacle Financial Partners to $80.00 and set a buy rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $76.14.
Pinnacle Financial Partners (NASDAQ:PNFP) opened at $64.00 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.00 and a debt-to-equity ratio of 0.48. Pinnacle Financial Partners has a 52 week low of $58.40 and a 52 week high of $71.55. The company has a market capitalization of $4,975.36, a P/E ratio of 18.08, a price-to-earnings-growth ratio of 0.98 and a beta of 1.31.
Pinnacle Financial Partners (NASDAQ:PNFP) last issued its earnings results on Tuesday, January 16th. The financial services provider reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.03. Pinnacle Financial Partners had a return on equity of 7.24% and a net margin of 22.27%. The company had revenue of $211.20 million during the quarter, compared to the consensus estimate of $224.62 million. During the same period in the previous year, the firm posted $0.83 earnings per share. Pinnacle Financial Partners’s quarterly revenue was down 2.3% compared to the same quarter last year. equities research analysts predict that Pinnacle Financial Partners will post 4.64 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 2nd will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $0.56 annualized dividend and a dividend yield of 0.88%. Pinnacle Financial Partners’s dividend payout ratio is presently 20.00%.
In other news, Vice Chairman Ronald L. Samuel sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $65.96, for a total transaction of $197,880.00. Following the completion of the transaction, the insider now directly owns 52,794 shares in the company, valued at $3,482,292.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO M Terry Turner sold 31,171 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $67.11, for a total value of $2,091,885.81. Following the transaction, the chief executive officer now owns 489,701 shares of the company’s stock, valued at $32,863,834.11. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,171 shares of company stock valued at $3,682,756. Insiders own 5.41% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of PNFP. Vanguard Group Inc. boosted its position in shares of Pinnacle Financial Partners by 42.6% during the second quarter. Vanguard Group Inc. now owns 5,840,702 shares of the financial services provider’s stock worth $366,796,000 after buying an additional 1,746,012 shares during the period. Pinnacle Financial Partners Inc. boosted its position in shares of Pinnacle Financial Partners by 337.7% during the third quarter. Pinnacle Financial Partners Inc. now owns 1,112,747 shares of the financial services provider’s stock worth $74,498,000 after buying an additional 858,514 shares during the period. State Street Corp boosted its position in shares of Pinnacle Financial Partners by 42.8% during the second quarter. State Street Corp now owns 2,733,336 shares of the financial services provider’s stock worth $171,658,000 after buying an additional 819,858 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Pinnacle Financial Partners by 56.0% during the second quarter. Goldman Sachs Group Inc. now owns 2,128,192 shares of the financial services provider’s stock worth $133,651,000 after buying an additional 764,072 shares during the period. Finally, Janus Henderson Group PLC acquired a new position in shares of Pinnacle Financial Partners during the second quarter worth approximately $34,117,000. Institutional investors and hedge funds own 71.77% of the company’s stock.
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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.
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