Pinnacle Financial Partners (NYSE:PNFP) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Pinnacle Financial Partners (NYSE:PNFPFree Report) from a sell rating to a hold rating in a report released on Friday.

Several other brokerages have also recently weighed in on PNFP. TD Cowen restated a “buy” rating on shares of Pinnacle Financial Partners in a report on Wednesday, January 7th. Piper Sandler increased their price target on Pinnacle Financial Partners from $120.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. UBS Group set a $106.00 price target on Pinnacle Financial Partners in a research note on Wednesday, February 4th. Bank of America started coverage on Pinnacle Financial Partners in a research note on Monday, December 8th. They set a “buy” rating and a $113.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft set a $116.00 price objective on Pinnacle Financial Partners and gave the company a “buy” rating in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $112.24.

Check Out Our Latest Research Report on Pinnacle Financial Partners

Pinnacle Financial Partners Stock Up 0.1%

Pinnacle Financial Partners stock opened at $87.57 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.32. Pinnacle Financial Partners has a 1-year low of $81.08 and a 1-year high of $120.46. The firm has a market capitalization of $6.79 billion, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 0.40 and a beta of 1.00.

Pinnacle Financial Partners Announces Dividend

The firm also recently disclosed a dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 6th were paid a $0.50 dividend. The ex-dividend date was Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio is currently 24.72%.

Insider Activity

In other Pinnacle Financial Partners news, CFO Andrew J. Jr. Gregory bought 1,000 shares of Pinnacle Financial Partners stock in a transaction dated Thursday, February 12th. The stock was bought at an average cost of $94.52 per share, for a total transaction of $94,520.00. Following the purchase, the chief financial officer owned 49,485 shares of the company’s stock, valued at $4,677,322.20. The trade was a 2.06% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.46% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pinnacle Financial Partners

A number of large investors have recently added to or reduced their stakes in PNFP. Brown Brothers Harriman & Co. acquired a new position in shares of Pinnacle Financial Partners in the third quarter valued at $26,000. High Point Wealth Management LLC acquired a new stake in shares of Pinnacle Financial Partners during the 4th quarter worth about $27,000. BOKF NA boosted its holdings in shares of Pinnacle Financial Partners by 1,204.5% during the 3rd quarter. BOKF NA now owns 287 shares of the company’s stock worth $27,000 after buying an additional 265 shares during the period. Activest Wealth Management bought a new stake in shares of Pinnacle Financial Partners during the 4th quarter worth about $28,000. Finally, Covestor Ltd grew its stake in Pinnacle Financial Partners by 193.9% in the 3rd quarter. Covestor Ltd now owns 338 shares of the company’s stock valued at $32,000 after buying an additional 223 shares during the last quarter. Institutional investors own 87.40% of the company’s stock.

About Pinnacle Financial Partners

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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.

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