Pinnacle Financial Partners (NYSE:PNFP) Stock Rating Upgraded by Benchmark

Pinnacle Financial Partners (NYSE:PNFP) was upgraded by investment analysts at Benchmark to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other research firms have also commented on PNFP. Truist Financial lifted their target price on Pinnacle Financial Partners from $114.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Wall Street Zen upgraded shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Citigroup lifted their target price on Pinnacle Financial Partners from $122.00 to $126.00 and gave the company a “buy” rating in a research report on Thursday. Weiss Ratings restated a “hold (c+)” rating on shares of Pinnacle Financial Partners in a research report on Thursday, June 4th. Finally, Stephens raised their price objective on Pinnacle Financial Partners from $95.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $116.06.

Pinnacle Financial Partners Price Performance

Shares of NYSE:PNFP opened at $98.50 on Wednesday. The firm’s fifty day moving average is $96.59. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $7.64 billion, a P/E ratio of 13.66, a PEG ratio of 0.37 and a beta of 1.04. Pinnacle Financial Partners has a 1-year low of $81.08 and a 1-year high of $120.46.

Pinnacle Financial Partners (NYSE:PNFP) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $2.39 EPS for the quarter, beating the consensus estimate of $2.30 by $0.09. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.20 billion. Pinnacle Financial Partners had a net margin of 15.02% and a return on equity of 10.61%. On average, sell-side analysts anticipate that Pinnacle Financial Partners will post 10.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pinnacle Financial Partners

Institutional investors and hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC grew its stake in shares of Pinnacle Financial Partners by 63.1% during the fourth quarter. AQR Capital Management LLC now owns 5,330,170 shares of the company’s stock worth $508,551,000 after acquiring an additional 2,062,504 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Pinnacle Financial Partners by 80.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,035,295 shares of the company’s stock worth $433,712,000 after purchasing an additional 2,244,659 shares during the last quarter. State Street Corp increased its stake in Pinnacle Financial Partners by 5.5% during the 4th quarter. State Street Corp now owns 3,451,939 shares of the company’s stock valued at $329,350,000 after purchasing an additional 179,819 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Pinnacle Financial Partners by 42.2% in the fourth quarter. Wellington Management Group LLP now owns 3,067,116 shares of the company’s stock worth $292,634,000 after buying an additional 910,367 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Pinnacle Financial Partners by 9.6% during the fourth quarter. Invesco Ltd. now owns 2,188,080 shares of the company’s stock worth $208,765,000 after buying an additional 191,292 shares during the period. 87.40% of the stock is 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.