Pinnacle Financial Partners (NASDAQ:PNFP) Downgraded by Stephens
Stephens cut shares of Pinnacle Financial Partners (NASDAQ:PNFP) from an overweight rating to an equal weight rating in a report released on Tuesday morning, Benzinga reports. Stephens currently has $62.00 target price on the financial services provider’s stock.
Several other analysts have also issued reports on PNFP. Zacks Investment Research reissued a hold rating on shares of Western New England Bancorp in a report on Saturday, June 29th. BidaskClub lowered Zions Bancorporation NA from a sell rating to a strong sell rating in a report on Wednesday, May 15th. Finally, Raymond James set a $8.00 target price on Superior Energy Services and gave the stock a buy rating in a report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $61.17.
PNFP stock opened at $57.50 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The company has a market cap of $4.35 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 0.79 and a beta of 1.36. The stock’s fifty day moving average price is $55.87. Pinnacle Financial Partners has a fifty-two week low of $43.23 and a fifty-two week high of $66.54.
In other news, Vice Chairman Ronald L. Samuel sold 500 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $56.61, for a total transaction of $28,305.00. Following the sale, the insider now directly owns 22,675 shares of the company’s stock, valued at approximately $1,283,631.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Charles E. Brock sold 2,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $56.05, for a total value of $112,100.00. Following the sale, the director now directly owns 36,304 shares in the company, valued at $2,034,839.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,135 shares of company stock worth $469,294. 2.97% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in PNFP. Private Capital Group LLC boosted its stake in Pinnacle Financial Partners by 76.6% in the first quarter. Private Capital Group LLC now owns 544 shares of the financial services provider’s stock valued at $30,000 after buying an additional 236 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Pinnacle Financial Partners in the first quarter valued at about $35,000. Valeo Financial Advisors LLC acquired a new stake in Pinnacle Financial Partners in the first quarter valued at about $39,000. CENTRAL TRUST Co boosted its stake in Pinnacle Financial Partners by 376.7% in the second quarter. CENTRAL TRUST Co now owns 715 shares of the financial services provider’s stock valued at $40,000 after buying an additional 565 shares in the last quarter. Finally, Aspire Private Capital LLC acquired a new stake in Pinnacle Financial Partners in the fourth quarter valued at about $130,000. 80.54% of the stock is currently owned by institutional investors and hedge funds.
About Pinnacle Financial Partners
Pinnacle Financial Partners, Inc operates as a bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The company accepts various deposits, including savings, checking, interest-bearing checking, money market, and certificate of deposit accounts.
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