Pinnacle Financial Partners (NASDAQ:PNFP) Receives $66.33 Consensus Target Price from Brokerages

Shares of Pinnacle Financial Partners (NASDAQ:PNFP) have been given a consensus rating of “Hold” by the seven research firms that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $66.33.

PNFP has been the topic of a number of recent research reports. SunTrust Banks upped their price objective on shares of Pinnacle Financial Partners from $65.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Zacks Investment Research cut shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. BidaskClub downgraded shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. Finally, ValuEngine upgraded shares of Pinnacle Financial Partners from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 19th.

PNFP traded down $0.84 during midday trading on Friday, reaching $55.94. The company’s stock had a trading volume of 715,551 shares, compared to its average volume of 422,147. The firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of 10.70, a PEG ratio of 0.70 and a beta of 1.44. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.65. Pinnacle Financial Partners has a 1 year low of $50.51 and a 1 year high of $65.00. The stock’s 50-day moving average is $61.49 and its 200-day moving average is $59.25.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.01. The business had revenue of $253.60 million for the quarter, compared to analysts’ expectations of $260.00 million. Pinnacle Financial Partners had a net margin of 30.10% and a return on equity of 9.75%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.25 earnings per share. As a group, equities research analysts forecast that Pinnacle Financial Partners will post 5.36 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 7th will be paid a $0.16 dividend. The ex-dividend date is Thursday, February 6th. This represents a $0.64 annualized dividend and a dividend yield of 1.14%. Pinnacle Financial Partners’s dividend payout ratio is presently 11.92%.

In other news, Director Ronald L. Samuel sold 500 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $59.45, for a total value of $29,725.00. Following the transaction, the director now owns 17,970 shares in the company, valued at $1,068,316.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.97% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of PNFP. Geode Capital Management LLC lifted its position in Pinnacle Financial Partners by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 871,582 shares of the financial services provider’s stock valued at $55,781,000 after purchasing an additional 34,294 shares during the period. Mason Street Advisors LLC lifted its position in Pinnacle Financial Partners by 0.9% during the fourth quarter. Mason Street Advisors LLC now owns 38,280 shares of the financial services provider’s stock valued at $2,450,000 after purchasing an additional 347 shares during the period. Equitable Holdings Inc. bought a new position in Pinnacle Financial Partners during the fourth quarter valued at approximately $1,467,000. Brinker Capital Inc. lifted its position in Pinnacle Financial Partners by 0.5% during the fourth quarter. Brinker Capital Inc. now owns 42,832 shares of the financial services provider’s stock valued at $2,741,000 after purchasing an additional 227 shares during the period. Finally, Walthausen & Co. LLC lifted its position in Pinnacle Financial Partners by 106.1% during the fourth quarter. Walthausen & Co. LLC now owns 111,876 shares of the financial services provider’s stock valued at $7,160,000 after purchasing an additional 57,585 shares during the period. Hedge funds and other institutional investors own 79.31% of the company’s stock.

About Pinnacle Financial Partners

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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