Pinnacle Financial Partners, Inc. (PNFP) Given Consensus Recommendation of “Hold” by Analysts
Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) have been assigned a consensus recommendation of “Hold” from the seven analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $68.40.
PNFP has been the topic of several analyst reports. Stephens restated a “hold” rating and set a $71.00 price target on shares of Pinnacle Financial Partners in a research report on Thursday, July 20th. BidaskClub lowered shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Hilliard Lyons upgraded shares of Pinnacle Financial Partners from a “neutral” rating to a “buy” rating and set a $71.00 price target on the stock in a research report on Wednesday, August 23rd. SunTrust Banks, Inc. restated a “buy” rating and set a $73.00 price target on shares of Pinnacle Financial Partners in a research report on Wednesday. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $72.00 price target on shares of Pinnacle Financial Partners in a research report on Thursday.
In other Pinnacle Financial Partners news, Vice Chairman Ronald L. Samuel sold 3,000 shares of the stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $66.02, for a total transaction of $198,060.00. Following the transaction, the insider now directly owns 64,794 shares of the company’s stock, valued at $4,277,699.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO M Terry Turner sold 101,480 shares of the stock in a transaction on Monday, July 24th. The shares were 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. Insiders own 5.41% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. purchased a new position in Pinnacle Financial Partners during the first quarter valued at $151,000. Advisor Group Inc. lifted its holdings in Pinnacle Financial Partners by 14.5% during the second quarter. Advisor Group Inc. now owns 2,294 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 291 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Pinnacle Financial Partners by 61.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,464 shares of the financial services provider’s stock valued at $155,000 after purchasing an additional 935 shares in the last quarter. Sei Investments Co. lifted its holdings in Pinnacle Financial Partners by 270.5% during the first quarter. Sei Investments Co. now owns 2,638 shares of the financial services provider’s stock valued at $176,000 after purchasing an additional 1,926 shares in the last quarter. Finally, Creative Planning lifted its holdings in Pinnacle Financial Partners by 100.2% during the second quarter. Creative Planning now owns 3,218 shares of the financial services provider’s stock valued at $202,000 after purchasing an additional 1,611 shares in the last quarter. 69.28% of the stock is currently owned by institutional investors and hedge funds.
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Pinnacle Financial Partners (NASDAQ:PNFP) traded up 1.36% during midday trading on Friday, reaching $67.20. 252,136 shares of the company’s stock were exchanged. Pinnacle Financial Partners has a 12-month low of $49.40 and a 12-month high of $71.85. The stock’s 50-day moving average is $62.77 and its 200-day moving average is $63.36. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 21.59 and a beta of 1.31.
Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.04. The company had revenue of $141.70 million for the quarter, compared to analyst estimates of $130.23 million. Pinnacle Financial Partners had a net margin of 27.36% and a return on equity of 7.67%. The firm’s revenue was up 31.4% on a year-over-year basis. During the same quarter last year, the business earned $0.75 earnings per share. On average, equities analysts forecast that Pinnacle Financial Partners will post $3.47 earnings per share for the current year.
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.
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