Pinnacle Financial Partners, Inc. (NYSE:PNFP) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) have been given a consensus rating of “Moderate Buy” by the twenty analysts that are currently covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $115.1765.

PNFP has been the topic of several research reports. UBS Group raised their price target on Pinnacle Financial Partners from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Stephens lifted their target price on Pinnacle Financial Partners from $95.00 to $109.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Truist Financial lifted their target price on Pinnacle Financial Partners from $114.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Weiss Ratings started coverage on Pinnacle Financial Partners in a research note on Monday, March 9th. They issued a “hold (c+)” rating on the stock. Finally, Robert W. Baird started coverage on Pinnacle Financial Partners in a research note on Tuesday. They issued an “outperform” rating and a $115.00 target price on the stock.

Pinnacle Financial Partners Trading Up 0.5%

Shares of Pinnacle Financial Partners stock opened at $97.25 on Friday. The stock has a market capitalization of $7.54 billion, a price-to-earnings ratio of 13.49, a P/E/G ratio of 0.37 and a beta of 1.06. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.90 and a current ratio of 0.90. Pinnacle Financial Partners has a 12 month low of $81.08 and a 12 month high of $120.46. The company’s fifty day moving average price is $91.59.

Pinnacle Financial Partners (NYSE:PNFP) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $2.39 EPS for the quarter, beating the consensus estimate of $2.30 by $0.09. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. Pinnacle Financial Partners had a return on equity of 10.61% and a net margin of 15.02%. Analysts forecast that Pinnacle Financial Partners will post 10.34 earnings per share for the current year.

Pinnacle Financial Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 1st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, May 1st. Pinnacle Financial Partners’s payout ratio is 27.74%.

Hedge Funds Weigh In On Pinnacle Financial Partners

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

About Pinnacle Financial Partners

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.