Pinnacle Financial Partners (PNFP) Upgraded by BidaskClub to Hold

BidaskClub upgraded shares of Pinnacle Financial Partners (NASDAQ:PNFP) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

A number of other equities analysts also recently commented on the stock. ValuEngine upgraded shares of Pinnacle Financial Partners from a strong sell rating to a sell rating in a research note on Monday, November 26th. TheStreet downgraded shares of Pinnacle Financial Partners from a b- rating to a c rating in a research note on Thursday, November 15th. SunTrust Banks dropped their target price on shares of Pinnacle Financial Partners to $65.00 and set a buy rating on the stock in a research note on Thursday, October 18th. Raymond James dropped their target price on shares of Pinnacle Financial Partners from $72.00 to $70.00 and set an outperform rating on the stock in a research note on Thursday, October 18th. Finally, Zacks Investment Research downgraded shares of Pinnacle Financial Partners from a hold rating to a sell rating in a research note on Saturday, October 6th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. Pinnacle Financial Partners presently has an average rating of Buy and an average target price of $70.00.

Shares of PNFP stock opened at $57.35 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of 16.06, a P/E/G ratio of 0.85 and a beta of 1.12. Pinnacle Financial Partners has a one year low of $49.92 and a one year high of $69.95.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its earnings results on Tuesday, October 16th. The financial services provider reported $1.21 EPS for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.02. The business had revenue of $240.90 million for the quarter, compared to the consensus estimate of $236.67 million. Pinnacle Financial Partners had a net margin of 26.97% and a return on equity of 9.09%. During the same period in the prior year, the firm earned $0.90 EPS. On average, equities analysts forecast that Pinnacle Financial Partners will post 4.72 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Friday, November 2nd were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, November 1st. This is an increase from Pinnacle Financial Partners’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.12%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 17.93%.

In other news, Vice Chairman Ronald L. Samuel sold 1,600 shares of the stock in a transaction that occurred on Tuesday, November 27th. The shares were sold at an average price of $55.96, for a total transaction of $89,536.00. Following the transaction, the insider now directly owns 26,375 shares in the company, valued at $1,475,945. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.39% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PNFP. Qube Research & Technologies Ltd bought a new position in shares of Pinnacle Financial Partners during the second quarter valued at approximately $133,000. Captrust Financial Advisors boosted its stake in shares of Pinnacle Financial Partners by 2,473.7% during the third quarter. Captrust Financial Advisors now owns 3,423 shares of the financial services provider’s stock valued at $206,000 after purchasing an additional 3,290 shares in the last quarter. Paloma Partners Management Co bought a new position in shares of Pinnacle Financial Partners during the second quarter valued at approximately $209,000. IFP Advisors Inc boosted its stake in shares of Pinnacle Financial Partners by 72.3% during the third quarter. IFP Advisors Inc now owns 5,159 shares of the financial services provider’s stock valued at $310,000 after purchasing an additional 2,164 shares in the last quarter. Finally, Signition LP bought a new position in shares of Pinnacle Financial Partners during the second quarter valued at approximately $351,000. Hedge funds and other institutional investors own 79.19% of the company’s stock.

About Pinnacle Financial Partners

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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