Pinnacle Financial Partners, Inc. (NYSE:PNFP) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) have been given an average recommendation of “Moderate Buy” by the twenty analysts that are covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $115.1765.

Several analysts recently weighed in on the company. Stephens lifted their price target on Pinnacle Financial Partners from $95.00 to $109.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. JPMorgan Chase & Co. lifted their price target on Pinnacle Financial Partners from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Citigroup lifted their price target on Pinnacle Financial Partners from $118.00 to $122.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Wall Street Zen raised Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a report on Tuesday, May 12th. Finally, TD Cowen dropped their price target on Pinnacle Financial Partners from $125.00 to $121.00 and set a “buy” rating for the company in a report on Monday, April 27th.

Pinnacle Financial Partners Trading Down 0.2%

NYSE:PNFP opened at $97.12 on Friday. The firm has a market cap of $7.53 billion, a PE ratio of 13.47, a P/E/G ratio of 0.37 and a beta of 1.06. The business’s 50 day moving average price is $91.84. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.90 and a current ratio of 0.90. Pinnacle Financial Partners has a 1-year low of $81.08 and a 1-year high of $120.46.

Pinnacle Financial Partners (NYSE:PNFP) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.09. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Pinnacle Financial Partners had a return on equity of 10.61% and a net margin of 15.02%. As a group, sell-side analysts forecast that Pinnacle Financial Partners will post 10.34 EPS for the current year.

Pinnacle Financial Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 1st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, May 1st. This represents a $2.00 annualized dividend and a yield of 2.1%. Pinnacle Financial Partners’s payout ratio is currently 27.74%.

Hedge Funds Weigh In On Pinnacle Financial Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Essential Partners LLC raised its holdings in Pinnacle Financial Partners by 42.7% in the 1st quarter. Essential Partners LLC now owns 4,040 shares of the company’s stock valued at $348,000 after acquiring an additional 1,209 shares in the last quarter. Bull Harbor Capital LLC acquired a new position in Pinnacle Financial Partners in the 1st quarter valued at $1,055,000. Arkadios Wealth Advisors acquired a new position in Pinnacle Financial Partners in the 1st quarter valued at $253,000. South Dakota Investment Council acquired a new position in Pinnacle Financial Partners in the 1st quarter valued at $172,000. Finally, Smith Group Asset Management LLC raised its holdings in Pinnacle Financial Partners by 113.8% in the 1st quarter. Smith Group Asset Management LLC now owns 8,423 shares of the company’s stock valued at $726,000 after acquiring an additional 4,484 shares in the last quarter. 87.40% of the stock is owned by institutional investors and hedge funds.

About Pinnacle Financial Partners

Pinnacle Financial Partners (NYSE: PNFP) is a bank holding company headquartered in Nashville, Tennessee, that provides a broad range of commercial and consumer banking services. Founded in 2000, the company operates through a network of banking offices and digital channels to serve individuals, small and middle-market businesses, and institutional clients. Pinnacle’s business model emphasizes relationship-based banking and tailored financial solutions for commercial borrowers and deposit customers.

The company’s product and service offerings include commercial and residential lending, treasury and payment solutions, deposit accounts, mortgage services, and cash management.