ValuEngine Downgrades Pinnacle Financial Partners (PNFP) to Strong Sell

Pinnacle Financial Partners (NASDAQ:PNFP) was downgraded by equities research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report released on Wednesday.

Other equities analysts have also issued research reports about the company. Stephens restated a “buy” rating and set a $74.00 price objective on shares of Pinnacle Financial Partners in a research note on Wednesday, October 3rd. Wells Fargo & Co set a $72.00 price target on Pinnacle Financial Partners and gave the company a “buy” rating in a research note on Tuesday, October 2nd. BidaskClub upgraded Pinnacle Financial Partners from a “hold” rating to a “buy” rating in a research note on Saturday, August 18th. Hovde Group reiterated an “outperform” rating on shares of Pinnacle Financial Partners in a research note on Thursday, July 5th. Finally, Zacks Investment Research lowered Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research note on Saturday, October 6th. Three equities research analysts have rated the stock with a sell rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $71.00.

Pinnacle Financial Partners stock traded down $1.12 during mid-day trading on Wednesday, reaching $54.33. 17,140 shares of the company were exchanged, compared to its average volume of 746,038. Pinnacle Financial Partners has a 12 month low of $54.23 and a 12 month high of $69.95. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.97 and a quick ratio of 0.98. The firm has a market cap of $4.41 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 0.86 and a beta of 1.02.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Tuesday, October 16th. The financial services provider reported $1.21 EPS for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.02. Pinnacle Financial Partners had a return on equity of 9.09% and a net margin of 26.97%. The firm had revenue of $240.90 million for the quarter, compared to analyst estimates of $236.67 million. During the same quarter last year, the company earned $0.90 EPS. Sell-side analysts expect that Pinnacle Financial Partners will post 4.71 earnings per share for the current fiscal year.

In other news, Vice Chairman Ronald L. Samuel sold 1,600 shares of Pinnacle Financial Partners stock in a transaction on Tuesday, July 24th. The stock was sold at an average price of $62.90, for a total value of $100,640.00. Following the transaction, the insider now owns 31,175 shares in the company, valued at approximately $1,960,907.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders sold 4,800 shares of company stock worth $304,960. Corporate insiders own 3.39% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. boosted its holdings in shares of Pinnacle Financial Partners by 32.3% during the 1st quarter. Russell Investments Group Ltd. now owns 38,363 shares of the financial services provider’s stock valued at $2,461,000 after acquiring an additional 9,367 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Pinnacle Financial Partners by 4.1% during the 1st quarter. Principal Financial Group Inc. now owns 319,530 shares of the financial services provider’s stock valued at $20,514,000 after acquiring an additional 12,617 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of Pinnacle Financial Partners by 56.7% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 15,140 shares of the financial services provider’s stock valued at $972,000 after acquiring an additional 5,479 shares in the last quarter. Guggenheim Capital LLC boosted its holdings in shares of Pinnacle Financial Partners by 509.3% during the 1st quarter. Guggenheim Capital LLC now owns 106,901 shares of the financial services provider’s stock valued at $6,863,000 after acquiring an additional 89,357 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Pinnacle Financial Partners by 189.1% during the 1st quarter. Millennium Management LLC now owns 718,629 shares of the financial services provider’s stock valued at $46,136,000 after acquiring an additional 470,031 shares in the last quarter. Institutional investors own 77.77% of the company’s stock.

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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