Pinnacle Financial Partners (PNFP) Given “Buy” Rating at Stephens

Stephens reissued their buy rating on shares of Pinnacle Financial Partners (NASDAQ:PNFP) in a report released on Tuesday morning, AnalystRatings.com reports. They currently have a $65.00 target price on the financial services provider’s stock.

A number of other brokerages also recently weighed in on PNFP. TheStreet upgraded shares of Pinnacle Financial Partners from a c+ rating to a b- rating in a report on Wednesday, February 13th. UBS Group upgraded shares of Pinnacle Financial Partners from a sell rating to a neutral rating and set a $50.00 target price on the stock in a report on Tuesday, January 8th. Zacks Investment Research downgraded shares of Pinnacle Financial Partners from a hold rating to a sell rating in a report on Thursday, April 4th. BidaskClub upgraded shares of Pinnacle Financial Partners from a sell rating to a hold rating in a report on Monday, April 1st. Finally, Wells Fargo & Co set a $62.00 target price on shares of Pinnacle Financial Partners and gave the stock a buy rating in a report on Wednesday, January 16th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $64.14.

Shares of PNFP opened at $57.27 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 0.97. Pinnacle Financial Partners has a twelve month low of $43.23 and a twelve month high of $68.70. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of 12.08, a P/E/G ratio of 0.78 and a beta of 1.39.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.03. The business had revenue of $238.30 million for the quarter, compared to analyst estimates of $246.03 million. Pinnacle Financial Partners had a net margin of 30.80% and a return on equity of 9.63%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.13 earnings per share. Analysts anticipate that Pinnacle Financial Partners will post 5.09 earnings per share for the current year.

In related news, Chairman Robert A. Mccabe, Jr. sold 10,275 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $58.39, for a total value of $599,957.25. Following the transaction, the chairman now directly owns 363,779 shares in the company, valued at $21,241,055.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Ronald L. Samuel sold 1,600 shares of the company’s stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $58.55, for a total transaction of $93,680.00. Following the completion of the transaction, the insider now owns 24,775 shares in the company, valued at $1,450,576.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,588 shares of company stock worth $2,479,247. Corporate insiders own 2.97% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in PNFP. Credit Suisse AG grew its stake in shares of Pinnacle Financial Partners by 13.0% in the third quarter. Credit Suisse AG now owns 57,418 shares of the financial services provider’s stock valued at $3,454,000 after acquiring an additional 6,603 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Pinnacle Financial Partners by 21.4% in the third quarter. Hsbc Holdings PLC now owns 7,289 shares of the financial services provider’s stock worth $437,000 after acquiring an additional 1,285 shares during the last quarter. Riverhead Capital Management LLC lifted its holdings in shares of Pinnacle Financial Partners by 22.8% in the third quarter. Riverhead Capital Management LLC now owns 7,011 shares of the financial services provider’s stock worth $422,000 after acquiring an additional 1,300 shares during the last quarter. Jane Street Group LLC bought a new position in Pinnacle Financial Partners in the 3rd quarter valued at approximately $748,000. Finally, Paloma Partners Management Co raised its holdings in Pinnacle Financial Partners by 452.1% in the 3rd quarter. Paloma Partners Management Co now owns 18,877 shares of the financial services provider’s stock valued at $1,135,000 after buying an additional 15,458 shares during the last quarter. Institutional investors and hedge funds own 81.55% of the company’s stock.

Pinnacle Financial Partners Company Profile

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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