Analysts Set Pinnacle Financial Partners, Inc. (NYSE:PNFP) Price Target at $117.00

Pinnacle Financial Partners, Inc. (NYSE:PNFP) has been given an average rating of “Moderate Buy” by the nineteen research firms that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $117.00.

A number of equities research analysts have recently issued reports on PNFP shares. Stephens set a $112.00 price target on Pinnacle Financial Partners in a research report on Monday, July 27th. Piper Sandler lifted their price objective on Pinnacle Financial Partners from $122.00 to $123.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Weiss Ratings raised Pinnacle Financial Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 26th. UBS Group upped their target price on Pinnacle Financial Partners from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, April 24th. Finally, DA Davidson raised their target price on Pinnacle Financial Partners from $109.00 to $112.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th.

Insider Buying and Selling

In other news, insider Robert A. Mccabe, Jr. bought 10,013 shares of the firm’s stock in a transaction on Friday, July 24th. The shares were bought at an average cost of $99.90 per share, for a total transaction of $1,000,298.70. Following the acquisition, the insider directly owned 324,233 shares of the company’s stock, valued at $32,390,876.70. This trade represents a 3.19% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Resources Management Corp CT ADV purchased a new stake in Pinnacle Financial Partners in the first quarter valued at $26,000. Brown Brothers Harriman & Co. purchased a new position in shares of Pinnacle Financial Partners during the 3rd quarter worth $26,000. High Point Wealth Management LLC acquired a new stake in shares of Pinnacle Financial Partners during the 4th quarter worth about $27,000. BOKF NA increased its position in shares of Pinnacle Financial Partners by 1,204.5% during the 3rd quarter. BOKF NA now owns 287 shares of the company’s stock worth $27,000 after purchasing an additional 265 shares during the last quarter. Finally, Activest Wealth Management purchased a new stake in Pinnacle Financial Partners in the 4th quarter valued at about $28,000. 87.40% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Trading Up 0.1%

NYSE:PNFP opened at $105.35 on Friday. The stock has a market capitalization of $8.17 billion, a P/E ratio of 14.47, a P/E/G ratio of 0.42 and a beta of 1.03. Pinnacle Financial Partners has a twelve month low of $81.08 and a twelve month high of $107.00. The stock has a 50-day simple moving average of $98.77. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.73.

Pinnacle Financial Partners (NYSE:PNFP) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.04. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Pinnacle Financial Partners had a net margin of 15.40% and a return on equity of 10.93%. On average, analysts expect that Pinnacle Financial Partners will post 10.2 earnings per share for the current year.

Pinnacle Financial Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 7th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, August 7th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 27.47%.

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.