Pinnacle Financial Partners, Inc. (NYSE:PNFP) Stock Has Consensus Target Price of $118.47 According to Analysts

Pinnacle Financial Partners, Inc. (NYSE:PNFP) has earned a consensus rating of “Moderate Buy” from the twenty-one research firms that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $118.47.

PNFP has been the topic of a number of research reports. Wells Fargo & Company raised shares of Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and set a $118.00 price objective on the stock in a report on Wednesday, September 30th. Citigroup increased their price target on shares of Pinnacle Financial Partners from $122.00 to $126.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. TD Cowen dropped their price target on shares of Pinnacle Financial Partners from $119.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, October 5th. Evercore set a $108.00 price target on shares of Pinnacle Financial Partners in a research note on Thursday, October 1st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Pinnacle Financial Partners from $120.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, October 1st.

Pinnacle Financial Partners Trading Up 0.4%

Shares of PNFP stock opened at $94.79 on Wednesday. The stock has a market capitalization of $7.35 billion, a P/E ratio of 10.04, a P/E/G ratio of 0.38 and a beta of 1.03. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.73. The firm’s 50 day moving average is $98.68 and its 200 day moving average is $97.89. Pinnacle Financial Partners has a 12-month low of $81.08 and a 12-month high of $110.33.

Pinnacle Financial Partners (NYSE:PNFP) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.04. Pinnacle Financial Partners had a return on equity of 10.93% and a net margin of 15.40%. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. Research analysts expect that Pinnacle Financial Partners will post 10.20 earnings per share for the current year.

Pinnacle Financial Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 7th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $2.00 annualized dividend and a dividend yield of 2.1%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is 27.47%.

Insider Activity

In other Pinnacle Financial Partners news, CEO Kevin S. Blair purchased 2,565 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was acquired at an average cost of $97.48 per share, for a total transaction of $250,036.20. Following the purchase, the chief executive officer directly owned 152,397 shares of the company’s stock, valued at $14,855,659.56. This trade represents a 1.71% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider M. Turner sold 66,783 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $108.01, for a total transaction of $7,213,231.83. Following the transaction, the insider directly owned 302,230 shares of the company’s stock, valued at $32,643,862.30. The trade was a 18.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have acquired 13,078 shares of company stock valued at $1,299,640 and have sold 177,228 shares valued at $19,153,713. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of Pinnacle Financial Partners

A number of large investors have recently made changes to their positions in PNFP. Bank of America Corp DE bought a new position in shares of Pinnacle Financial Partners during the second quarter valued at approximately $70,269,000. Public Employees Retirement System of Ohio bought a new position in Pinnacle Financial Partners in the 2nd quarter worth about $4,292,000. BlackRock Inc. purchased a new position in shares of Pinnacle Financial Partners during the second quarter worth approximately $1,704,708,000. Man Group plc purchased a new stake in shares of Pinnacle Financial Partners in the second quarter valued at approximately $19,969,000. Finally, Corient Private Wealth LP bought a new position in shares of Pinnacle Financial Partners during the 2nd quarter worth $1,982,000. 87.40% of the stock is currently owned by institutional investors.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc is a bank holding company headquartered in Nashville, Tennessee. Through its principal subsidiary, Pinnacle Bank, the company provides full-service banking and related financial services to businesses, professionals, entrepreneurs and individuals.

Its offerings include commercial, small-business and consumer loans; checking, savings and money-market accounts; treasury and cash-management services; online and mobile banking; mortgage lending; and wealth-management, trust, investment and insurance services.