BidaskClub upgraded shares of Pinnacle Financial Partners (NASDAQ:PNFP) from a hold rating to a buy rating in a research note released on Saturday.

A number of other analysts have also recently commented on PNFP. ValuEngine cut Pinnacle Financial Partners from a hold rating to a sell rating in a research report on Friday, June 29th. Hovde Group reaffirmed an outperform rating on shares of Pinnacle Financial Partners in a research report on Thursday, July 5th. Finally, Zacks Investment Research cut Pinnacle Financial Partners from a buy rating to a hold rating in a research report on Friday, April 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $72.75.

Shares of PNFP opened at $65.15 on Friday. Pinnacle Financial Partners has a one year low of $58.40 and a one year high of $69.95. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 0.95 and a beta of 1.02.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings results on Tuesday, July 17th. The financial services provider reported $1.15 EPS for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.01. Pinnacle Financial Partners had a return on equity of 8.59% and a net margin of 25.54%. The company had revenue of $230.20 million during the quarter, compared to analysts’ expectations of $229.16 million. During the same quarter in the previous year, the firm posted $0.84 EPS. The firm’s revenue was up 62.5% compared to the same quarter last year. equities research analysts expect that Pinnacle Financial Partners will post 4.71 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 31st. Stockholders of record on Friday, August 3rd will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, August 2nd. This represents a $0.56 annualized dividend and a dividend yield of 0.86%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 15.69%.

In other news, Vice Chairman Ronald L. Samuel sold 1,600 shares of the business’s stock in a transaction dated Tuesday, June 26th. The stock was sold at an average price of $63.33, for a total value of $101,328.00. Following the completion of the transaction, the insider now owns 32,775 shares of the company’s stock, valued at approximately $2,075,640.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gary L. Scott sold 900 shares of the business’s stock in a transaction dated Tuesday, May 22nd. The shares were sold at an average price of $68.39, for a total value of $61,551.00. Following the completion of the transaction, the director now directly owns 42,419 shares of the company’s stock, valued at approximately $2,901,035.41. The disclosure for this sale can be found here. In the last three months, insiders sold 7,100 shares of company stock valued at $462,719. Insiders own 3.39% of the company’s stock.

Several hedge funds have recently modified their holdings of PNFP. Ceredex Value Advisors LLC acquired a new position in shares of Pinnacle Financial Partners in the 1st quarter valued at about $90,692,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Pinnacle Financial Partners by 124.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,146,362 shares of the financial services provider’s stock valued at $73,597,000 after buying an additional 635,410 shares during the period. Millennium Management LLC lifted its holdings in shares of Pinnacle Financial Partners by 189.1% in the 1st quarter. Millennium Management LLC now owns 718,629 shares of the financial services provider’s stock valued at $46,136,000 after buying an additional 470,031 shares during the period. Wedge Capital Management L L P NC lifted its holdings in shares of Pinnacle Financial Partners by 73.8% in the 2nd quarter. Wedge Capital Management L L P NC now owns 966,731 shares of the financial services provider’s stock valued at $59,309,000 after buying an additional 410,479 shares during the period. Finally, BlackRock Inc. lifted its holdings in shares of Pinnacle Financial Partners by 4.4% in the 2nd quarter. BlackRock Inc. now owns 6,485,908 shares of the financial services provider’s stock valued at $397,909,000 after buying an additional 273,386 shares during the period. 77.04% of the stock is owned by institutional investors and hedge funds.

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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