Benchmark Cuts Pinnacle Financial Partners (NYSE:PNFP) Price Target to $125.00

Pinnacle Financial Partners (NYSE:PNFP) had its target price reduced by Benchmark from $132.00 to $125.00 in a research report released on Friday, Marketbeat.com reports. Benchmark currently has a buy rating on the stock.

Several other analysts have also recently commented on PNFP. Wall Street Zen raised Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a report on Tuesday, May 12th. Weiss Ratings raised Pinnacle Financial Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, June 26th. Piper Sandler reiterated an “overweight” rating on shares of Pinnacle Financial Partners in a research report on Wednesday, June 10th. UBS Group raised their target price on Pinnacle Financial Partners from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, April 24th. Finally, Stephens lifted their price target on shares of Pinnacle Financial Partners from $95.00 to $109.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Pinnacle Financial Partners presently has a consensus rating of “Moderate Buy” and an average price target of $116.65.

Pinnacle Financial Partners Stock Down 0.1%

NYSE PNFP opened at $102.53 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $7.95 billion, a PE ratio of 14.08, a P/E/G ratio of 0.41 and a beta of 1.04. Pinnacle Financial Partners has a 52-week low of $81.08 and a 52-week high of $107.00. The business’s 50-day moving average price is $97.90.

Pinnacle Financial Partners (NYSE:PNFP) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.04. Pinnacle Financial Partners had a return on equity of 10.93% and a net margin of 15.40%.The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. On average, equities research analysts expect that Pinnacle Financial Partners will post 10.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pinnacle Financial Partners

A number of institutional investors have recently bought and sold shares of PNFP. Resources Management Corp CT ADV acquired a new stake in Pinnacle Financial Partners during the first quarter worth about $26,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Pinnacle Financial Partners in the third quarter valued at about $26,000. High Point Wealth Management LLC acquired a new stake in shares of Pinnacle Financial Partners in the fourth quarter valued at about $27,000. BOKF NA raised its holdings in shares of Pinnacle Financial Partners by 1,204.5% during the 3rd quarter. BOKF NA now owns 287 shares of the company’s stock valued at $27,000 after buying an additional 265 shares during the period. Finally, Activest Wealth Management purchased a new stake in shares of Pinnacle Financial Partners during the 4th quarter valued at about $28,000. 87.40% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Company Profile

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.