Pinnacle Financial Partners, Inc. (NASDAQ:PNFP – Get Free Report) declared a quarterly dividend on Tuesday, April 23rd, Zacks reports. Investors of record on Friday, May 3rd will be paid a dividend of 0.22 per share by the financial services provider on Friday, May 31st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Thursday, May 2nd.
Pinnacle Financial Partners has raised its dividend by an average of 11.2% per year over the last three years. Pinnacle Financial Partners has a dividend payout ratio of 11.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Pinnacle Financial Partners to earn $7.98 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 11.0%.
Pinnacle Financial Partners Stock Performance
Shares of NASDAQ PNFP opened at $82.96 on Thursday. The stock has a market cap of $6.39 billion, a price-to-earnings ratio of 11.87 and a beta of 1.08. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. Pinnacle Financial Partners has a 1-year low of $43.31 and a 1-year high of $92.33. The stock’s 50-day moving average is $82.35 and its 200 day moving average is $79.18.
Insider Transactions at Pinnacle Financial Partners
Analysts Set New Price Targets
A number of equities analysts recently weighed in on PNFP shares. Stephens reissued an “overweight” rating and set a $109.00 price objective on shares of Pinnacle Financial Partners in a report on Tuesday. Truist Financial raised their price objective on Pinnacle Financial Partners from $93.00 to $99.00 and gave the company a “buy” rating in a report on Monday, April 1st. JPMorgan Chase & Co. decreased their price objective on Pinnacle Financial Partners from $110.00 to $108.00 and set an “overweight” rating on the stock in a report on Wednesday. UBS Group reduced their price target on Pinnacle Financial Partners from $91.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, January 18th. Finally, Barclays started coverage on Pinnacle Financial Partners in a research report on Friday, March 8th. They set an “equal weight” rating and a $93.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Pinnacle Financial Partners presently has an average rating of “Hold” and a consensus target price of $96.13.
View Our Latest Analysis on PNFP
About Pinnacle Financial Partners
Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.
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