ValuEngine Downgrades Pinnacle Financial Partners (PNFP) to Sell

Pinnacle Financial Partners (NASDAQ:PNFP) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Friday.

Several other equities research analysts have also recently weighed in on PNFP. UBS Group initiated coverage on shares of Pinnacle Financial Partners in a research report on Wednesday, March 21st. They set a “sell” rating and a $56.00 price objective for the company. Zacks Investment Research upgraded shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Wednesday, March 28th. BidaskClub upgraded shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, April 4th. Raymond James upgraded shares of Pinnacle Financial Partners from a “market perform” rating to an “outperform” rating in a research report on Tuesday, April 10th. Finally, SunTrust Banks decreased their price objective on shares of Pinnacle Financial Partners to $73.00 and set a “positive” rating for the company in a research report on Wednesday, April 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $72.56.

Shares of PNFP traded down $0.55 during trading hours on Friday, hitting $61.35. 507,657 shares of the stock were exchanged, compared to its average volume of 572,183. Pinnacle Financial Partners has a fifty-two week low of $58.40 and a fifty-two week high of $69.95. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. The stock has a market cap of $4.84 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 0.94 and a beta of 1.05.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Monday, April 16th. The financial services provider reported $1.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.03. Pinnacle Financial Partners had a net margin of 24.09% and a return on equity of 7.52%. The company had revenue of $218.60 million during the quarter, compared to analysts’ expectations of $220.48 million. During the same period in the prior year, the company posted $0.83 earnings per share. Pinnacle Financial Partners’s revenue for the quarter was up 83.5% compared to the same quarter last year. sell-side analysts anticipate that Pinnacle Financial Partners will post 4.74 EPS for the current fiscal year.

In other Pinnacle Financial Partners news, Vice Chairman Ronald L. Samuel sold 3,000 shares of the firm’s stock in a transaction on Tuesday, April 24th. The shares were sold at an average price of $65.09, for a total value of $195,270.00. Following the completion of the sale, the insider now directly owns 37,875 shares in the company, valued at $2,465,283.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gary L. Scott sold 900 shares of the firm’s stock in a transaction on Tuesday, May 22nd. The stock was sold at an average price of $68.39, for a total transaction of $61,551.00. Following the completion of the sale, the director now owns 42,419 shares of the company’s stock, valued at $2,901,035.41. The disclosure for this sale can be found here. Insiders sold 28,500 shares of company stock valued at $1,868,549 over the last 90 days. Corporate insiders own 3.39% of the company’s stock.

A number of large investors have recently bought and sold shares of PNFP. Arizona State Retirement System grew its holdings in Pinnacle Financial Partners by 26.9% in the fourth quarter. Arizona State Retirement System now owns 53,094 shares of the financial services provider’s stock worth $3,520,000 after purchasing an additional 11,259 shares during the period. BlackRock Inc. grew its holdings in Pinnacle Financial Partners by 1.0% in the fourth quarter. BlackRock Inc. now owns 6,050,010 shares of the financial services provider’s stock worth $401,116,000 after purchasing an additional 59,719 shares during the period. Tower Research Capital LLC TRC grew its holdings in Pinnacle Financial Partners by 252.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,929 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 1,381 shares during the period. OppenheimerFunds Inc. grew its holdings in Pinnacle Financial Partners by 19.6% in the fourth quarter. OppenheimerFunds Inc. now owns 324,513 shares of the financial services provider’s stock worth $21,516,000 after purchasing an additional 53,155 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Pinnacle Financial Partners by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 646,184 shares of the financial services provider’s stock worth $42,841,000 after purchasing an additional 5,327 shares during the period. Institutional investors and hedge funds own 76.31% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Pinnacle Financial Partners (NASDAQ:PNFP)

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