Pinnacle Financial Partners Inc. (NASDAQ:PNFP) has earned a consensus rating of “Hold” from the seven research firms that are currently covering the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $57.75.
A number of equities research analysts have commented on PNFP shares. Zacks Investment Research lowered shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a report on Wednesday. Sandler O’Neill lowered shares of Pinnacle Financial Partners from a “buy” rating to a “hold” rating and set a $60.00 price objective on the stock. in a report on Tuesday, September 13th. Piper Jaffray Cos. raised shares of Pinnacle Financial Partners from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $51.00 to $60.00 in a report on Tuesday, July 12th. Finally, SunTrust Banks Inc. increased their price objective on shares of Pinnacle Financial Partners from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, July 15th.
Pinnacle Financial Partners (NASDAQ:PNFP) traded down 0.799% during mid-day trading on Friday, hitting $55.215. 82,130 shares of the company were exchanged. The company has a 50 day moving average of $55.23 and a 200 day moving average of $50.94. Pinnacle Financial Partners has a 12-month low of $43.32 and a 12-month high of $57.99. The stock has a market cap of $2.29 billion, a P/E ratio of 20.518 and a beta of 1.58.
Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.75 EPS for the quarter, hitting analysts’ consensus estimates of $0.75. Pinnacle Financial Partners had a net margin of 26.36% and a return on equity of 9.58%. On average, equities research analysts expect that Pinnacle Financial Partners will post $3.00 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 5th were given a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, August 3rd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.01%. Pinnacle Financial Partners’s dividend payout ratio is 20.90%.
In related news, Director William H. Iv Huddleston sold 10,000 shares of the stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $53.96, for a total value of $539,600.00. Following the sale, the director now directly owns 55,863 shares in the company, valued at approximately $3,014,367.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.30% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in PNFP. Norges Bank bought a new stake in shares of Pinnacle Financial Partners during the fourth quarter valued at approximately $11,127,000. Hilton Capital Management LLC increased its stake in shares of Pinnacle Financial Partners by 60.3% in the first quarter. Hilton Capital Management LLC now owns 8,495 shares of the financial services provider’s stock valued at $417,000 after buying an additional 3,195 shares during the period. TIAA CREF Investment Management LLC increased its stake in shares of Pinnacle Financial Partners by 10.1% in the first quarter. TIAA CREF Investment Management LLC now owns 187,550 shares of the financial services provider’s stock valued at $9,201,000 after buying an additional 17,144 shares during the period. Teachers Advisors Inc. increased its stake in shares of Pinnacle Financial Partners by 314.4% in the first quarter. Teachers Advisors Inc. now owns 241,745 shares of the financial services provider’s stock valued at $11,860,000 after buying an additional 183,403 shares during the period. Finally, Prudential Financial Inc. increased its stake in shares of Pinnacle Financial Partners by 1.9% in the first quarter. Prudential Financial Inc. now owns 85,104 shares of the financial services provider’s stock valued at $4,175,000 after buying an additional 1,600 shares during the period. Hedge funds and other institutional investors own 63.99% of the company’s stock.
About Pinnacle Financial Partners
Pinnacle Financial Partners, Inc (Pinnacle) is a bank holding company. Pinnacle operates through its subsidiary, Pinnacle Bank. The Company operates as a community bank primarily in the urban markets of Nashville and Knoxville, Tennessee. As an urban community bank, Pinnacle provides the personalized service associated with small community banks, while seeking to offer the products and services, such as investments and treasury management, offered by large regional and national banks.
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