Pinnacle Financial Partners (NYSE:PNFP) Given New $130.00 Price Target at Barclays

Pinnacle Financial Partners (NYSE:PNFP) had its price target dropped by equities research analysts at Barclays from $135.00 to $130.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 47.41% from the stock’s current price.

Other analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft set a $116.00 price objective on shares of Pinnacle Financial Partners and gave the company a “buy” rating in a report on Wednesday, January 21st. Keefe, Bruyette & Woods raised their target price on shares of Pinnacle Financial Partners from $95.00 to $100.00 and gave the company a “market perform” rating in a research note on Friday, January 9th. Bank of America initiated coverage on shares of Pinnacle Financial Partners in a research note on Monday, December 8th. They issued a “buy” rating and a $113.00 target price for the company. JPMorgan Chase & Co. decreased their target price on shares of Pinnacle Financial Partners from $120.00 to $105.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. Finally, DA Davidson initiated coverage on shares of Pinnacle Financial Partners in a research note on Monday, January 5th. They issued a “neutral” rating and a $110.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $112.18.

Pinnacle Financial Partners Price Performance

Shares of NYSE PNFP traded down $0.04 during midday trading on Tuesday, reaching $88.19. The company’s stock had a trading volume of 755,531 shares, compared to its average volume of 1,656,530. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.32. Pinnacle Financial Partners has a fifty-two week low of $81.08 and a fifty-two week high of $120.46. The company has a market capitalization of $6.84 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 0.40 and a beta of 1.00.

Insider Buying and Selling

In related news, CFO Andrew J. Jr. Gregory acquired 1,000 shares of Pinnacle Financial Partners stock in a transaction on Thursday, February 12th. The stock was purchased at an average cost of $94.52 per share, with a total value of $94,520.00. Following the completion of the transaction, the chief financial officer directly owned 49,485 shares in the company, valued at $4,677,322.20. This trade represents a 2.06% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pinnacle Financial Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PNFP. Brown Brothers Harriman & Co. acquired a new stake in shares of Pinnacle Financial Partners during the third quarter worth $26,000. High Point Wealth Management LLC acquired a new stake in shares of Pinnacle Financial Partners during the fourth quarter worth $27,000. BOKF NA lifted its holdings in shares of Pinnacle Financial Partners by 1,204.5% during the third quarter. BOKF NA now owns 287 shares of the company’s stock worth $27,000 after buying an additional 265 shares in the last quarter. Activest Wealth Management acquired a new stake in shares of Pinnacle Financial Partners during the fourth quarter worth $28,000. Finally, Covestor Ltd lifted its holdings in shares of Pinnacle Financial Partners by 193.9% during the third quarter. Covestor Ltd now owns 338 shares of the company’s stock worth $32,000 after buying an additional 223 shares in the last quarter. 87.40% of the stock is owned by institutional investors.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners (NYSE: PNFP) is a bank holding company headquartered in Nashville, Tennessee, that provides a broad range of commercial and consumer banking services. Founded in 2000, the company operates through a network of banking offices and digital channels to serve individuals, small and middle-market businesses, and institutional clients. Pinnacle’s business model emphasizes relationship-based banking and tailored financial solutions for commercial borrowers and deposit customers.

The company’s product and service offerings include commercial and residential lending, treasury and payment solutions, deposit accounts, mortgage services, and cash management.