Pinnacle Financial Partners (NYSE:PNFP) Price Target Raised to $125.00 at JPMorgan Chase & Co.

Pinnacle Financial Partners (NYSE:PNFP) had its price target hoisted by research analysts at JPMorgan Chase & Co. from $115.00 to $125.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 22.61% from the stock’s previous close.

A number of other research analysts have also issued reports on the stock. Benchmark assumed coverage on shares of Pinnacle Financial Partners in a research note on Wednesday, June 24th. They set a “buy” rating and a $132.00 price target on the stock. Barclays cut their price objective on Pinnacle Financial Partners from $135.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Stephens lifted their price objective on Pinnacle Financial Partners from $95.00 to $109.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. TD Cowen reduced their target price on shares of Pinnacle Financial Partners from $125.00 to $121.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Finally, Weiss Ratings upgraded shares of Pinnacle Financial Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Pinnacle Financial Partners has an average rating of “Moderate Buy” and a consensus target price of $116.61.

Pinnacle Financial Partners Trading Up 1.1%

Shares of PNFP traded up $1.07 during trading hours on Wednesday, hitting $101.95. The company had a trading volume of 37,477 shares, compared to its average volume of 1,506,663. The business’s fifty day moving average price is $96.96. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.90 and a quick ratio of 0.90. Pinnacle Financial Partners has a one year low of $81.08 and a one year high of $120.46. The company has a market cap of $7.91 billion, a P/E ratio of 14.14, a PEG ratio of 0.38 and a beta of 1.04.

Pinnacle Financial Partners (NYSE:PNFP) last posted its earnings results on Wednesday, April 22nd. The company reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.09. Pinnacle Financial Partners had a net margin of 15.02% and a return on equity of 10.61%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Analysts forecast that Pinnacle Financial Partners will post 10.24 earnings per share for the current year.

Institutional Trading of Pinnacle Financial Partners

Institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. lifted its holdings in Pinnacle Financial Partners by 1.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 7,377 shares of the company’s stock valued at $704,000 after acquiring an additional 116 shares during the period. Villanova Investment Management Co LLC grew its stake in shares of Pinnacle Financial Partners by 0.4% during the 4th quarter. Villanova Investment Management Co LLC now owns 28,511 shares of the company’s stock worth $2,720,000 after purchasing an additional 118 shares during the period. Simplicity Wealth LLC lifted its stake in shares of Pinnacle Financial Partners by 1.5% in the first quarter. Simplicity Wealth LLC now owns 9,155 shares of the company’s stock valued at $789,000 after purchasing an additional 131 shares during the period. Diversified Trust Co. lifted its stake in shares of Pinnacle Financial Partners by 0.3% in the fourth quarter. Diversified Trust Co. now owns 54,349 shares of the company’s stock valued at $5,185,000 after purchasing an additional 137 shares during the period. Finally, Whittier Trust Co. boosted its holdings in Pinnacle Financial Partners by 10.1% during the fourth quarter. Whittier Trust Co. now owns 1,521 shares of the company’s stock worth $145,000 after buying an additional 140 shares in the last quarter. 87.40% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners (NYSE: PNFP) is a bank holding company headquartered in Nashville, Tennessee, that provides a broad range of commercial and consumer banking services. Founded in 2000, the company operates through a network of banking offices and digital channels to serve individuals, small and middle-market businesses, and institutional clients. Pinnacle’s business model emphasizes relationship-based banking and tailored financial solutions for commercial borrowers and deposit customers.

The company’s product and service offerings include commercial and residential lending, treasury and payment solutions, deposit accounts, mortgage services, and cash management.