SunTrust Banks, Inc. reissued their buy rating on shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) in a research note released on Wednesday. SunTrust Banks, Inc. currently has a $73.00 price target on the financial services provider’s stock.

PNFP has been the topic of several other reports. BidaskClub cut shares of Pinnacle Financial Partners from a sell rating to a strong sell rating in a research note on Tuesday, August 8th. Stephens reissued a hold rating and issued a $71.00 price objective on shares of Pinnacle Financial Partners in a research note on Thursday, July 20th. Finally, Hilliard Lyons raised shares of Pinnacle Financial Partners from a neutral rating to a buy rating and set a $71.00 price objective on the stock in a research note on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Pinnacle Financial Partners currently has a consensus rating of Hold and a consensus target price of $68.40.

Pinnacle Financial Partners (PNFP) traded up 0.07% during mid-day trading on Wednesday, reaching $67.25. 242,201 shares of the company traded hands. The stock’s 50 day moving average price is $63.13 and its 200 day moving average price is $63.39. The firm has a market capitalization of $5.17 billion, a price-to-earnings ratio of 21.60 and a beta of 1.31. Pinnacle Financial Partners has a 52 week low of $49.40 and a 52 week high of $71.85.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.04. The company had revenue of $141.70 million for the quarter, compared to analysts’ expectations of $130.23 million. Pinnacle Financial Partners had a net margin of 27.36% and a return on equity of 7.67%. Pinnacle Financial Partners’s revenue was up 31.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 EPS. Equities analysts forecast that Pinnacle Financial Partners will post $3.47 EPS for the current year.

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In other news, Vice Chairman Ronald L. Samuel sold 3,000 shares of the company’s stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $64.41, for a total transaction of $193,230.00. Following the transaction, the insider now directly owns 58,794 shares of the company’s stock, valued at approximately $3,786,921.54. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO M Terry Turner sold 101,480 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $64.82, for a total transaction of $6,577,933.60. Following the transaction, the chief executive officer now directly owns 538,441 shares in the company, valued at $34,901,745.62. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 110,480 shares of company stock worth $7,150,574. Corporate insiders own 5.41% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Alps Advisors Inc. grew its stake in shares of Pinnacle Financial Partners by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 7,121 shares of the financial services provider’s stock worth $447,000 after purchasing an additional 19 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Pinnacle Financial Partners by 1.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 6,557 shares of the financial services provider’s stock worth $436,000 after purchasing an additional 80 shares during the period. M&T Bank Corp grew its stake in shares of Pinnacle Financial Partners by 5.3% during the 2nd quarter. M&T Bank Corp now owns 3,799 shares of the financial services provider’s stock worth $238,000 after purchasing an additional 191 shares during the period. Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of Pinnacle Financial Partners by 2.7% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 7,854 shares of the financial services provider’s stock worth $493,000 after purchasing an additional 209 shares during the period. Finally, HighTower Advisors LLC grew its stake in shares of Pinnacle Financial Partners by 3.9% during the 2nd quarter. HighTower Advisors LLC now owns 5,820 shares of the financial services provider’s stock worth $366,000 after purchasing an additional 220 shares during the period. 69.28% of the stock is currently owned by institutional investors and hedge funds.

About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc is a bank holding company. The Company operates through its subsidiary, Pinnacle Bank. The Company operates as a community bank primarily in the urban markets of Nashville, Knoxville, Memphis and Chattanooga, Tennessee and other counties. It provides the personalized service associated with small community banks, while seeking to offer the products and services, such as investments and treasury management.

Analyst Recommendations for Pinnacle Financial Partners (NASDAQ:PNFP)

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