DA Davidson Boosts Pinnacle Financial Partners (NYSE:PNFP) Price Target to $112.00

Pinnacle Financial Partners (NYSE:PNFP) had its target price lifted by DA Davidson from $109.00 to $112.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. DA Davidson’s price objective would suggest a potential upside of 9.24% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Wall Street Zen raised Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Stephens lifted their price objective on Pinnacle Financial Partners from $95.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Evercore reiterated an “outperform” rating and set a $120.00 target price on shares of Pinnacle Financial Partners in a research report on Monday, July 6th. Benchmark lowered their target price on Pinnacle Financial Partners from $132.00 to $125.00 and set a “buy” rating for the company in a research report on Friday. Finally, Barclays cut their target price on shares of Pinnacle Financial Partners from $135.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.76.

Pinnacle Financial Partners Stock Performance

Shares of NYSE:PNFP opened at $102.53 on Friday. The company has a market capitalization of $7.95 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 0.41 and a beta of 1.04. The stock’s fifty day moving average is $97.90. Pinnacle Financial Partners has a fifty-two week low of $81.08 and a fifty-two week high of $107.00. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.73.

Pinnacle Financial Partners (NYSE:PNFP) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.46 by $0.04. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. Pinnacle Financial Partners had a net margin of 15.40% and a return on equity of 10.93%. As a group, research analysts predict that Pinnacle Financial Partners will post 10.18 earnings per share for the current year.

Institutional Investors Weigh In On Pinnacle Financial Partners

Several institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC increased its position in shares of Pinnacle Financial Partners by 63.1% during the 4th quarter. AQR Capital Management LLC now owns 5,330,170 shares of the company’s stock valued at $508,551,000 after purchasing an additional 2,062,504 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Pinnacle Financial Partners by 80.4% in the first quarter. Dimensional Fund Advisors LP now owns 5,035,295 shares of the company’s stock worth $433,712,000 after buying an additional 2,244,659 shares during the last quarter. State Street Corp boosted its stake in Pinnacle Financial Partners by 5.5% during the fourth quarter. State Street Corp now owns 3,451,939 shares of the company’s stock worth $329,350,000 after buying an additional 179,819 shares during the period. Wellington Management Group LLP boosted its stake in Pinnacle Financial Partners by 42.2% during the fourth quarter. Wellington Management Group LLP now owns 3,067,116 shares of the company’s stock worth $292,634,000 after buying an additional 910,367 shares during the period. Finally, Invesco Ltd. increased its position in Pinnacle Financial Partners by 9.6% during the fourth quarter. Invesco Ltd. now owns 2,188,080 shares of the company’s stock valued at $208,765,000 after acquiring an additional 191,292 shares during the last quarter. 87.40% of the stock is owned by institutional investors.

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.