Pinnacle Financial Partners (NASDAQ:PNFP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday.

According to Zacks, “Pinnacle Financial Partners, Inc. Provides a full range of banking, investment, trust, mortgage and insurance products and services designed for businesses and their owners and individuals interested in a comprehensive relationship with their financial institution. “

A number of other analysts have also recently issued reports on PNFP. ValuEngine cut Pinnacle Financial Partners from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 17th. BidaskClub cut Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research note on Saturday, September 29th. SunTrust Banks lowered their target price on Pinnacle Financial Partners to $65.00 and set a “buy” rating for the company in a research note on Thursday, October 18th. Wells Fargo & Co set a $72.00 target price on Pinnacle Financial Partners and gave the stock a “buy” rating in a research note on Tuesday, October 2nd. Finally, Raymond James decreased their price target on shares of Pinnacle Financial Partners from $72.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, October 18th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $65.75.

Shares of PNFP stock opened at $51.32 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $3.98 billion, a PE ratio of 14.38, a P/E/G ratio of 0.72 and a beta of 1.30. Pinnacle Financial Partners has a one year low of $43.23 and a one year high of $69.85.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings results on Tuesday, October 16th. The financial services provider reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.02. The company had revenue of $240.90 million during the quarter, compared to analysts’ expectations of $236.67 million. Pinnacle Financial Partners had a return on equity of 9.09% and a net margin of 26.97%. During the same period in the prior year, the business posted $0.90 EPS. As a group, sell-side analysts expect that Pinnacle Financial Partners will post 4.7 earnings per share for the current fiscal year.

In other Pinnacle Financial Partners news, Vice Chairman Ronald L. Samuel sold 1,600 shares of the firm’s stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $55.96, for a total transaction of $89,536.00. Following the completion of the sale, the insider now owns 26,375 shares of the company’s stock, valued at approximately $1,475,945. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.39% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of PNFP. Retirement Systems of Alabama lifted its holdings in Pinnacle Financial Partners by 9.5% during the 4th quarter. Retirement Systems of Alabama now owns 214,229 shares of the financial services provider’s stock worth $9,876,000 after purchasing an additional 18,625 shares in the last quarter. Chesley Taft & Associates LLC lifted its holdings in Pinnacle Financial Partners by 12.8% during the 4th quarter. Chesley Taft & Associates LLC now owns 7,825 shares of the financial services provider’s stock worth $361,000 after purchasing an additional 890 shares in the last quarter. Teachers Advisors LLC lifted its holdings in Pinnacle Financial Partners by 0.7% during the 3rd quarter. Teachers Advisors LLC now owns 129,502 shares of the financial services provider’s stock worth $7,790,000 after purchasing an additional 873 shares in the last quarter. Vanguard Group Inc lifted its holdings in Pinnacle Financial Partners by 2.2% during the 3rd quarter. Vanguard Group Inc now owns 6,520,182 shares of the financial services provider’s stock worth $392,188,000 after purchasing an additional 142,700 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Pinnacle Financial Partners by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 6,520,182 shares of the financial services provider’s stock worth $392,188,000 after purchasing an additional 142,700 shares in the last quarter. 79.24% of the stock is owned by institutional investors.

Pinnacle Financial Partners Company Profile

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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