Pinnacle Financial Partners (PNFP) Receives Average Rating of “Buy” from Brokerages

Shares of Pinnacle Financial Partners (NASDAQ:PNFP) have been assigned a consensus recommendation of “Buy” from the eight brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $77.60.

Several analysts have recently commented on PNFP shares. SunTrust Banks decreased their price objective on shares of Pinnacle Financial Partners to $80.00 and set a “buy” rating on the stock in a research report on Thursday, January 18th. Piper Jaffray Companies restated a “buy” rating and set a $74.00 price objective on shares of Pinnacle Financial Partners in a research report on Thursday, October 19th. Hilliard Lyons raised shares of Pinnacle Financial Partners from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 8th. Zacks Investment Research raised shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a research note on Wednesday, December 20th. Finally, Sandler O’Neill set a $76.00 target price on shares of Pinnacle Financial Partners and gave the company a “buy” rating in a research note on Thursday, January 18th.

In related news, CEO M Terry Turner sold 31,171 shares of the firm’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $67.11, for a total transaction of $2,091,885.81. Following the completion of the transaction, the chief executive officer now directly owns 489,701 shares of the company’s stock, valued at $32,863,834.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of the firm’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $67.20, for a total transaction of $201,600.00. The disclosure for this sale can be found here. Insiders have sold 57,044 shares of company stock valued at $3,791,760 over the last ninety days. 5.41% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. M&T Bank Corp grew its stake in shares of Pinnacle Financial Partners by 5.3% in the 2nd quarter. M&T Bank Corp now owns 3,799 shares of the financial services provider’s stock worth $238,000 after buying an additional 191 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Pinnacle Financial Partners by 3.9% in the 2nd quarter. HighTower Advisors LLC now owns 5,820 shares of the financial services provider’s stock worth $366,000 after buying an additional 220 shares in the last quarter. Advisor Group Inc. grew its stake in shares of Pinnacle Financial Partners by 14.5% in the 2nd quarter. Advisor Group Inc. now owns 2,294 shares of the financial services provider’s stock worth $144,000 after buying an additional 291 shares in the last quarter. Dana Investment Advisors Inc. grew its stake in shares of Pinnacle Financial Partners by 2.0% in the 2nd quarter. Dana Investment Advisors Inc. now owns 44,338 shares of the financial services provider’s stock worth $2,784,000 after buying an additional 874 shares in the last quarter. Finally, Legato Capital Management LLC grew its stake in shares of Pinnacle Financial Partners by 3.1% in the 4th quarter. Legato Capital Management LLC now owns 32,541 shares of the financial services provider’s stock worth $2,157,000 after buying an additional 974 shares in the last quarter. 72.78% of the stock is owned by institutional investors.

Shares of Pinnacle Financial Partners (NASDAQ:PNFP) traded down $2.20 during mid-day trading on Friday, hitting $60.20. 614,557 shares of the stock traded hands, compared to its average volume of 589,576. The company has a market cap of $4,750.00, a P/E ratio of 21.96, a price-to-earnings-growth ratio of 0.94 and a beta of 1.13. Pinnacle Financial Partners has a 12-month low of $58.40 and a 12-month high of $71.55. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.48.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.03. The firm had revenue of $211.20 million for the quarter, compared to the consensus estimate of $224.62 million. Pinnacle Financial Partners had a net margin of 22.27% and a return on equity of 7.24%. The company’s revenue was down 2.3% on a year-over-year basis. During the same period last year, the firm earned $0.83 EPS. equities analysts expect that Pinnacle Financial Partners will post 4.71 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 2nd will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $0.56 annualized dividend and a yield of 0.93%. Pinnacle Financial Partners’s payout ratio is 20.00%.

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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.

Analyst Recommendations for Pinnacle Financial Partners (NASDAQ:PNFP)

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