According to Zacks, “Pinnacle Financial Partners, Inc. is a bank holding company which owns 100% of the capital stock of Pinnacle National Bank, a national bank operating in the Nashville, Tennessee metropolitan area. “
Several other equities research analysts also recently issued reports on PNFP. 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 research report on Tuesday, July 12th. 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 research report on Friday, July 15th. Finally, Sandler O’Neill downgraded shares of Pinnacle Financial Partners from a buy rating to a hold rating and set a $60.00 price objective for the company. in a research report on Tuesday, September 13th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Pinnacle Financial Partners has a consensus rating of Buy and a consensus price target of $57.00.
Shares of Pinnacle Financial Partners (NASDAQ:PNFP) opened at 53.73 on Tuesday. The company’s 50-day moving average price is $55.29 and its 200 day moving average price is $51.62. Pinnacle Financial Partners has a one year low of $43.32 and a one year high of $57.99. The company has a market cap of $2.23 billion, a PE ratio of 19.97 and a beta of 1.55.
Pinnacle Financial Partners (NASDAQ:PNFP) last posted its earnings results on Tuesday, July 19th. The financial services provider reported $0.75 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.75. Pinnacle Financial Partners had a net margin of 26.36% and a return on equity of 9.58%. Equities analysts forecast that Pinnacle Financial Partners will post $3.03 EPS for the current fiscal year.
In related news, Director William H. Iv Huddleston sold 10,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 55,863 shares of the company’s stock, valued at $3,014,367.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.30% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. Advisor Group Inc. purchased a new stake in shares of Pinnacle Financial Partners during the second quarter worth approximately $111,000. Strs Ohio boosted its stake in shares of Pinnacle Financial Partners by 300.0% in the second quarter. Strs Ohio now owns 2,400 shares of the financial services provider’s stock worth $117,000 after buying an additional 1,800 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Pinnacle Financial Partners by 152.4% in the first quarter. BlackRock Inc. now owns 2,542 shares of the financial services provider’s stock worth $125,000 after buying an additional 1,535 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Pinnacle Financial Partners during the second quarter worth approximately $125,000. Finally, Huntington Asset Advisors Inc. purchased a new stake in shares of Pinnacle Financial Partners during the first quarter worth approximately $152,000. Hedge funds and other institutional investors own 63.97% of the company’s stock.
Pinnacle Financial Partners Company Profile
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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