Pinnacle Financial Partners (NASDAQ:PNFP) Given “Overweight” Rating at Stephens

Stephens reissued their overweight rating on shares of Pinnacle Financial Partners (NASDAQ:PNFP) in a report published on Tuesday, Benzinga reports. Stephens currently has a $109.00 price target on the financial services provider’s stock.

Several other equities analysts have also recently commented on the stock. UBS Group decreased their price target on shares of Pinnacle Financial Partners from $91.00 to $90.00 and set a neutral rating for the company in a research report on Thursday, January 18th. Jefferies Financial Group decreased their price target on shares of Pinnacle Financial Partners from $88.00 to $85.00 and set a hold rating for the company in a research report on Monday, April 8th. Barclays initiated coverage on shares of Pinnacle Financial Partners in a research report on Friday, March 8th. They issued an equal weight rating and a $93.00 price target for the company. Finally, Truist Financial raised their price target on shares of Pinnacle Financial Partners from $93.00 to $99.00 and gave the company a buy rating in a research report on Monday, April 1st. 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’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $95.50.

Pinnacle Financial Partners Stock Performance

Shares of PNFP stock opened at $80.29 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. Pinnacle Financial Partners has a 52 week low of $43.31 and a 52 week high of $92.33. The stock has a market capitalization of $6.19 billion, a PE ratio of 11.49 and a beta of 1.08. The firm has a 50 day moving average of $82.20 and a two-hundred day moving average of $79.29.

Pinnacle Financial Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 3rd will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, May 2nd. This represents a $0.88 annualized dividend and a dividend yield of 1.10%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 12.59%.

Insider Transactions at Pinnacle Financial Partners

In related news, CEO M Terry Turner sold 24,057 shares of Pinnacle Financial Partners stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total transaction of $1,977,966.54. Following the sale, the chief executive officer now directly owns 294,790 shares in the company, valued at approximately $24,237,633.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Harold R. Carpenter sold 6,306 shares of Pinnacle Financial Partners stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total transaction of $518,479.32. Following the sale, the chief financial officer now directly owns 63,856 shares in the company, valued at approximately $5,250,240.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO M Terry Turner sold 24,057 shares of Pinnacle Financial Partners stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $82.22, for a total transaction of $1,977,966.54. Following the sale, the chief executive officer now owns 294,790 shares in the company, valued at $24,237,633.80. The disclosure for this sale can be found here. In the last three months, insiders sold 47,844 shares of company stock valued at $3,933,734. Insiders own 1.87% of the company’s stock.

Institutional Investors Weigh In On Pinnacle Financial Partners

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rise Advisors LLC acquired a new stake in Pinnacle Financial Partners during the 1st quarter worth $26,000. Emerald Advisers LLC acquired a new position in Pinnacle Financial Partners in the third quarter valued at $27,000. Fifth Third Bancorp increased its stake in Pinnacle Financial Partners by 101.4% in the third quarter. Fifth Third Bancorp now owns 423 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 213 shares during the period. Bruce G. Allen Investments LLC acquired a new position in Pinnacle Financial Partners in the fourth quarter valued at $32,000. Finally, Nomura Asset Management Co. Ltd. increased its stake in Pinnacle Financial Partners by 57.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 550 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares during the period. 87.40% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle Financial Partners Company Profile

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.