Pinnacle Financial Partners (PNFP) Upgraded to “Overweight” by Stephens
Pinnacle Financial Partners (NASDAQ:PNFP) was upgraded by analysts at Stephens from an “equal weight” rating to an “overweight” rating in a report released on Monday, Marketbeat Ratings reports.
Several other brokerages also recently issued reports on PNFP. Piper Jaffray Companies set a $76.00 price target on Pinnacle Financial Partners and gave the company a “buy” rating in a report on Thursday, November 30th. Zacks Investment Research upgraded Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $76.00 price target for the company in a report on Wednesday, December 20th. BidaskClub upgraded Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. Wells Fargo & Co assumed coverage on Pinnacle Financial Partners in a report on Thursday, December 21st. They issued an “outperform” rating and a $80.00 price target for the company. Finally, Hilliard Lyons downgraded Pinnacle Financial Partners from a “buy” rating to a “neutral” rating and set a $74.00 target price for the company. in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $76.14.
Shares of Pinnacle Financial Partners (PNFP) opened at $62.15 on Monday. Pinnacle Financial Partners has a twelve month low of $58.40 and a twelve month high of $71.55. The stock has a market capitalization of $4,990.88, a price-to-earnings ratio of 22.20, a P/E/G ratio of 0.97 and a beta of 1.13. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.00 and a quick ratio of 0.99.
In other news, Director Ed C. Loughry, Jr. sold 1,873 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $64.30, for a total transaction of $120,433.90. Following the completion of the sale, the director now directly owns 95,109 shares in the company, valued at $6,115,508.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $65.96, for a total value of $197,880.00. Following the sale, the insider now owns 52,794 shares of the company’s stock, valued at $3,482,292.24. The disclosure for this sale can be found here. Insiders have sold 57,044 shares of company stock valued at $3,791,760 over the last 90 days. Insiders own 5.41% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Suntrust Banks Inc. acquired a new stake in shares of Pinnacle Financial Partners during the second quarter valued at about $556,000. ETRADE Capital Management LLC lifted its position in shares of Pinnacle Financial Partners by 49.9% during the third quarter. ETRADE Capital Management LLC now owns 23,048 shares of the financial services provider’s stock worth $1,543,000 after purchasing an additional 7,668 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Pinnacle Financial Partners by 164.5% during the third quarter. Wells Fargo & Company MN now owns 813,985 shares of the financial services provider’s stock worth $54,496,000 after purchasing an additional 506,213 shares during the last quarter. Walthausen & Co. LLC lifted its position in shares of Pinnacle Financial Partners by 11.2% during the third quarter. Walthausen & Co. LLC now owns 179,687 shares of the financial services provider’s stock worth $12,030,000 after purchasing an additional 18,149 shares during the last quarter. Finally, Maple Capital Management Inc. bought a new position in shares of Pinnacle Financial Partners during the third quarter worth about $624,000. Institutional investors own 72.78% of the company’s stock.
Pinnacle Financial Partners Company Profile
Pinnacle Financial Partners, Inc is a bank holding company. The Company operates through its subsidiary, Pinnacle Bank. The Company operates as a community bank primarily in the urban markets of Nashville, Knoxville, Memphis and Chattanooga, Tennessee and other counties. It provides the personalized service associated with small community banks, while seeking to offer the products and services, such as investments and treasury management.
Receive News & Ratings for Pinnacle Financial Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle Financial Partners and related companies with MarketBeat.com's FREE daily email newsletter.