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.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.03. The firm had revenue of $238.30 million for the quarter, compared to analysts’ expectations of $246.03 million. Pinnacle Financial Partners had a return on equity of 9.53% and a net margin of 30.80%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.13 EPS. Equities research analysts expect that Pinnacle Financial Partners will post 5.08 earnings per share for the current fiscal year.

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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Analyst Recommendations for Pinnacle Financial Partners (NASDAQ:PNFP)

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