Pinnacle Financial Partners (NASDAQ:PNFP) Price Target Raised to $125.00

Pinnacle Financial Partners (NASDAQ:PNFP) had its price objective lifted by TD Cowen from $122.00 to $125.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

PNFP has been the subject of several other reports. DA Davidson assumed coverage on shares of Pinnacle Financial Partners in a research report on Monday. They issued a “neutral” rating and a $110.00 price target for the company. Wells Fargo & Company decreased their price objective on Pinnacle Financial Partners from $110.00 to $100.00 and set an “equal weight” rating for the company in a report on Friday, October 17th. Evercore Partners started coverage on Pinnacle Financial Partners in a research report on Tuesday. They set an “outperform” rating for the company. Piper Sandler upgraded Pinnacle Financial Partners from a “neutral” rating to an “overweight” rating and upped their price target for the company from $117.00 to $120.00 in a research report on Monday. Finally, Evercore ISI assumed coverage on Pinnacle Financial Partners in a research note on Tuesday. They issued an “outperform” rating and a $115.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Pinnacle Financial Partners presently has an average rating of “Moderate Buy” and a consensus price target of $113.00.

Pinnacle Financial Partners Price Performance

Pinnacle Financial Partners stock opened at $97.10 on Wednesday. The stock has a 50-day moving average price of $94.15 and a two-hundred day moving average price of $96.52. Pinnacle Financial Partners has a 12 month low of $81.57 and a 12 month high of $127.85. The company has a market capitalization of $7.53 billion, a PE ratio of 12.34, a P/E/G ratio of 0.48 and a beta of 1.02. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.33.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.22. The company had revenue of $544.80 million during the quarter, compared to the consensus estimate of $526.40 million. Pinnacle Financial Partners had a return on equity of 9.91% and a net margin of 19.17%.During the same quarter in the prior year, the firm posted $1.86 earnings per share. Analysts expect that Pinnacle Financial Partners will post 7.85 EPS for the current year.

Pinnacle Financial Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 7th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, November 7th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 12.20%.

Insider Transactions at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, Director G Kennedy Thompson bought 5,000 shares of the stock in a transaction that occurred on Monday, October 20th. The shares were bought at an average price of $87.63 per share, for a total transaction of $438,150.00. Following the acquisition, the director directly owned 33,372 shares of the company’s stock, valued at approximately $2,924,388.36. The trade was a 17.62% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of Pinnacle Financial Partners stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $93.00, for a total value of $630,075.00. Following the transaction, the chairman owned 202,505 shares of the company’s stock, valued at $18,832,965. This trade represents a 3.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.46% of the company’s stock.

Institutional Investors Weigh In On Pinnacle Financial Partners

Several institutional investors have recently bought and sold shares of the stock. 1248 Management LLC purchased a new position in Pinnacle Financial Partners during the 1st quarter worth $29,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Pinnacle Financial Partners in the third quarter valued at about $26,000. BOKF NA lifted its position in shares of Pinnacle Financial Partners by 1,204.5% during the third quarter. BOKF NA now owns 287 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 265 shares in the last quarter. Covestor Ltd boosted its holdings in Pinnacle Financial Partners by 193.9% during the third quarter. Covestor Ltd now owns 338 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 223 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new stake in Pinnacle Financial Partners in the 2nd quarter worth about $38,000. Institutional investors own 87.40% of the company’s stock.

About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc (NASDAQ: PNFP) is a financial services company headquartered in Nashville, Tennessee, that provides banking, wealth management and insurance solutions to business and consumer clients. The company operates through two primary segments—Banking and Wealth Management & Advisory—offering a comprehensive suite of products that includes commercial and consumer lending, deposit services, treasury management, trust and investment advisory, and insurance brokerage. Pinnacle’s client-focused model emphasizes relationship-based banking, leveraging local decision-making authority and specialized industry expertise to serve diverse sectors such as healthcare, technology, real estate and professional services.

In its banking segment, Pinnacle delivers commercial and consumer loans, lines of credit, equipment financing, and mortgage lending.