Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Director Thomas R. Sloan sold 15,000 shares of Pinnacle Financial Partners stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $65.97, for a total value of $989,550.00. Following the sale, the director now directly owns 108,257 shares in the company, valued at $7,141,714.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Pinnacle Financial Partners, Inc. (PNFP) opened at $68.30 on Friday. Pinnacle Financial Partners, Inc. has a 1 year low of $58.40 and a 1 year high of $71.55. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.98 and a current ratio of 0.99. The stock has a market capitalization of $5,300.00, a PE ratio of 19.93, a PEG ratio of 1.59 and a beta of 1.31.
Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.01. Pinnacle Financial Partners had a return on equity of 7.36% and a net margin of 27.41%. The company had revenue of $216.20 million during the quarter, compared to the consensus estimate of $217.13 million. During the same period last year, the company earned $0.78 earnings per share. The firm’s revenue was up 102.8% compared to the same quarter last year. research analysts predict that Pinnacle Financial Partners, Inc. will post 3.56 EPS for the current fiscal year.
A number of brokerages have recently issued reports on PNFP. Piper Jaffray Companies set a $76.00 price objective on Pinnacle Financial Partners and gave the stock a “buy” rating in a research 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 objective for the company in a research report on Wednesday. BidaskClub upgraded Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Wednesday. Wells Fargo & Company began coverage on Pinnacle Financial Partners in a research report on Thursday. They set an “outperform” rating and a $80.00 price objective for the company. Finally, Hilliard Lyons downgraded Pinnacle Financial Partners from a “buy” rating to a “neutral” rating and set a $74.00 price objective for the company. in a research report on Friday, October 20th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $75.17.
A number of hedge funds have recently modified their holdings of the business. Alps Advisors Inc. increased its holdings in Pinnacle Financial Partners by 0.3% in the second quarter. Alps Advisors Inc. now owns 7,121 shares of the financial services provider’s stock worth $447,000 after purchasing an additional 19 shares in the last quarter. M&T Bank Corp increased its holdings in Pinnacle Financial Partners by 5.3% in the second quarter. M&T Bank Corp now owns 3,799 shares of the financial services provider’s stock worth $238,000 after purchasing an additional 191 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its holdings in Pinnacle Financial Partners by 2.7% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 7,854 shares of the financial services provider’s stock worth $493,000 after purchasing an additional 209 shares in the last quarter. HighTower Advisors LLC increased its holdings in Pinnacle Financial Partners by 3.9% in the second quarter. HighTower Advisors LLC now owns 5,820 shares of the financial services provider’s stock worth $366,000 after purchasing an additional 220 shares in the last quarter. Finally, Advisor Group Inc. increased its holdings in Pinnacle Financial Partners by 14.5% in the second quarter. Advisor Group Inc. now owns 2,294 shares of the financial services provider’s stock worth $144,000 after purchasing an additional 291 shares in the last quarter. Institutional investors and hedge funds own 71.75% of the company’s stock.
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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.
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