Pinnacle Financial Partners (PNFP) Upgraded to “Hold” by ValuEngine

Pinnacle Financial Partners (NASDAQ:PNFP) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Thursday.

Other equities analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Pinnacle Financial Partners from a “buy” rating to a “hold” rating in a research note on Thursday, March 29th. Hovde Group reaffirmed an “outperform” rating and issued a $75.00 target price (up from $72.00) on shares of Pinnacle Financial Partners in a research note on Friday, June 8th. SunTrust Banks dropped their target price on shares of Pinnacle Financial Partners to $73.00 and set a “positive” rating for the company in a research note on Wednesday, April 18th. Raymond James raised shares of Pinnacle Financial Partners from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 10th. Finally, FIG Partners raised shares of Pinnacle Financial Partners from a “market perform” rating to an “outperform” rating in a research note on Wednesday, April 18th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $72.56.

Pinnacle Financial Partners traded down $0.30, hitting $65.70, during trading on Thursday, Marketbeat Ratings reports. 757,408 shares of the stock traded hands, compared to its average volume of 577,496. Pinnacle Financial Partners has a one year low of $58.40 and a one year high of $69.95. The company has a market capitalization of $5.11 billion, a P/E ratio of 18.40, a P/E/G ratio of 0.87 and a beta of 1.05. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.65.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its earnings results on Monday, April 16th. The financial services provider reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.03. Pinnacle Financial Partners had a net margin of 24.09% and a return on equity of 7.52%. The company had revenue of $218.60 million during the quarter, compared to the consensus estimate of $220.48 million. During the same period in the previous year, the firm posted $0.83 earnings per share. The company’s revenue was up 83.5% on a year-over-year basis. research analysts expect that Pinnacle Financial Partners will post 4.74 earnings per share for the current year.

In related news, Vice Chairman Ronald L. Samuel sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 24th. The shares were sold at an average price of $65.09, for a total transaction of $195,270.00. Following the completion of the sale, the insider now directly owns 37,875 shares of the company’s stock, valued at $2,465,283.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Richard D. Callicutt II sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $65.56, for a total transaction of $1,311,200.00. Following the sale, the chairman now directly owns 168,741 shares of the company’s stock, valued at $11,062,659.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,900 shares of company stock valued at $1,956,311. 3.39% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Teachers Retirement System of The State of Kentucky grew its holdings in Pinnacle Financial Partners by 5.6% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 15,000 shares of the financial services provider’s stock valued at $995,000 after purchasing an additional 800 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in Pinnacle Financial Partners by 7.2% during the first quarter. Oppenheimer Asset Management Inc. now owns 12,207 shares of the financial services provider’s stock valued at $784,000 after purchasing an additional 818 shares during the period. Mason Street Advisors LLC grew its holdings in Pinnacle Financial Partners by 2.3% during the first quarter. Mason Street Advisors LLC now owns 37,163 shares of the financial services provider’s stock valued at $2,386,000 after purchasing an additional 822 shares during the period. Profund Advisors LLC grew its holdings in Pinnacle Financial Partners by 8.3% during the first quarter. Profund Advisors LLC now owns 11,982 shares of the financial services provider’s stock valued at $769,000 after purchasing an additional 916 shares during the period. Finally, Raymond James & Associates grew its holdings in Pinnacle Financial Partners by 1.0% during the fourth quarter. Raymond James & Associates now owns 124,812 shares of the financial services provider’s stock valued at $8,275,000 after purchasing an additional 1,198 shares during the period. 76.30% of the stock is owned by institutional investors and hedge funds.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc operates as a bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The company accepts various deposits, including savings, checking, interest-bearing checking, money market, and certificate of deposit accounts.

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Analyst Recommendations for Pinnacle Financial Partners (NASDAQ:PNFP)

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