Pinnacle Financial Partners (NASDAQ:PNFP) has received a consensus rating of “Buy” from the thirteen brokerages that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $71.40.
Several equities research analysts have recently issued reports on PNFP shares. BidaskClub raised shares of Pinnacle Financial Partners from a “strong sell” rating to a “sell” rating in a research report on Saturday, November 17th. SunTrust Banks dropped their price objective on shares of Pinnacle Financial Partners to $65.00 and set a “buy” rating for the company in a research report on Thursday, October 18th. TheStreet lowered shares of Pinnacle Financial Partners from a “b-” rating to a “c” rating in a research report on Thursday, November 15th. ValuEngine raised shares of Pinnacle Financial Partners from a “strong sell” rating to a “sell” rating in a research report on Monday, November 26th. Finally, Zacks Investment Research lowered shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research report on Saturday, October 6th.
Shares of Pinnacle Financial Partners stock traded down $0.45 during trading hours on Friday, hitting $56.90. The company’s stock had a trading volume of 20,448 shares, compared to its average volume of 348,704. Pinnacle Financial Partners has a 1-year low of $49.92 and a 1-year high of $69.95. The firm has a market capitalization of $4.47 billion, a P/E ratio of 15.96, a PEG ratio of 0.87 and a beta of 1.13. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.51.
The company also recently declared a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Friday, November 2nd were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.12%. This is a positive change from Pinnacle Financial Partners’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, November 1st. Pinnacle Financial Partners’s dividend payout ratio (DPR) is presently 17.93%.
In related news, Vice Chairman Ronald L. Samuel sold 1,600 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 26,375 shares of the company’s stock, valued at approximately $1,475,945. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.39% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Qube Research & Technologies Ltd acquired a new position in Pinnacle Financial Partners during the 2nd quarter worth $133,000. Paloma Partners Management Co acquired a new position in Pinnacle Financial Partners during the 2nd quarter worth $209,000. Captrust Financial Advisors grew its holdings in Pinnacle Financial Partners by 2,473.7% during the 3rd quarter. Captrust Financial Advisors now owns 3,423 shares of the financial services provider’s stock worth $206,000 after acquiring an additional 3,290 shares in the last quarter. IFP Advisors Inc grew its holdings in Pinnacle Financial Partners by 72.3% during the 3rd quarter. IFP Advisors Inc now owns 5,159 shares of the financial services provider’s stock worth $310,000 after acquiring an additional 2,164 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC grew its holdings in Pinnacle Financial Partners by 25.2% during the 2nd quarter. Quantitative Systematic Strategies LLC now owns 5,716 shares of the financial services provider’s stock worth $351,000 after acquiring an additional 1,150 shares in the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.
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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