Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Given Average Rating of “Moderate Buy” by Brokerages

by · The Markets Daily

Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the eleven ratings firms that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $121.27.

A number of equities analysts have issued reports on the stock. Truist Financial began coverage on shares of Pinnacle Financial Partners in a research note on Tuesday, May 13th. They issued a “buy” rating and a $123.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price on Pinnacle Financial Partners from $125.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Wells Fargo & Company dropped their price target on Pinnacle Financial Partners from $125.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. Barclays lowered their price objective on shares of Pinnacle Financial Partners from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Finally, Jefferies Financial Group began coverage on Pinnacle Financial Partners in a report on Wednesday, May 21st. They set a “buy” rating and a $135.00 target price on the stock.

View Our Latest Stock Analysis on Pinnacle Financial Partners

Hedge Funds Weigh In On Pinnacle Financial Partners

Several institutional investors and hedge funds have recently modified their holdings of the business. Voya Investment Management LLC boosted its position in shares of Pinnacle Financial Partners by 2.8% during the 1st quarter. Voya Investment Management LLC now owns 9,463 shares of the financial services provider’s stock worth $1,003,000 after acquiring an additional 258 shares in the last quarter. 1248 Management LLC bought a new position in Pinnacle Financial Partners during the 1st quarter worth $29,000. Modern Wealth Management LLC lifted its stake in shares of Pinnacle Financial Partners by 17.8% in the first quarter. Modern Wealth Management LLC now owns 2,471 shares of the financial services provider’s stock worth $262,000 after acquiring an additional 374 shares during the period. Strs Ohio acquired a new position in shares of Pinnacle Financial Partners in the 1st quarter worth approximately $1,453,000. Finally, Advisors Capital Management LLC boosted its position in Pinnacle Financial Partners by 8.8% during the first quarter. Advisors Capital Management LLC now owns 30,981 shares of the financial services provider’s stock valued at $3,285,000 after acquiring an additional 2,513 shares during the last quarter. 87.40% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle Financial Partners Price Performance

Pinnacle Financial Partners stock opened at $110.41 on Thursday. The business’s fifty day moving average is $105.91 and its two-hundred day moving average is $109.09. The firm has a market cap of $8.56 billion, a P/E ratio of 17.87 and a beta of 1.02. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.89 and a current ratio of 0.89. Pinnacle Financial Partners has a 52 week low of $76.75 and a 52 week high of $131.91.

Pinnacle Financial Partners (NASDAQ:PNFP – Get Free Report) last announced its quarterly earnings data on Monday, April 14th. The financial services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.08. The firm had revenue of $475.37 million for the quarter, compared to analyst estimates of $478.11 million. Pinnacle Financial Partners had a return on equity of 9.29% and a net margin of 15.98%. During the same period last year, the company earned $1.53 EPS. Equities research analysts forecast that Pinnacle Financial Partners will post 7.85 earnings per share for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 2nd were paid a $0.24 dividend. The ex-dividend date was Friday, May 2nd. This represents a $0.96 annualized dividend and a yield of 0.87%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 15.53%.

Pinnacle Financial Partners Company Profile

(Get Free Report

Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.

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