Brokerages Set Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Target Price at $113.41

Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) have earned an average recommendation of “Moderate Buy” from the twenty ratings firms that are covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $113.4118.

PNFP has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft set a $116.00 target price on shares of Pinnacle Financial Partners and gave the company a “buy” rating in a research report on Wednesday, January 21st. Citigroup lifted their price objective on Pinnacle Financial Partners from $118.00 to $122.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Raymond James Financial reiterated a “strong-buy” rating on shares of Pinnacle Financial Partners in a research note on Thursday, January 22nd. Truist Financial set a $100.00 target price on Pinnacle Financial Partners in a report on Friday, January 9th. Finally, JPMorgan Chase & Co. lifted their price target on Pinnacle Financial Partners from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th.

Insider Activity

In other news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $93.00, for a total transaction of $630,075.00. Following the completion of the sale, the chairman owned 202,505 shares of the company’s stock, valued at $18,832,965. This represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.46% of the stock is owned by insiders.

Institutional Trading of Pinnacle Financial Partners

Large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its holdings in shares of Pinnacle Financial Partners by 6.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 651,268 shares of the financial services provider’s stock worth $69,060,000 after acquiring an additional 37,989 shares during the period. Focus Partners Wealth grew its holdings in shares of Pinnacle Financial Partners by 13.9% in the first quarter. Focus Partners Wealth now owns 4,755 shares of the financial services provider’s stock valued at $504,000 after purchasing an additional 581 shares during the period. Ameritas Advisory Services LLC acquired a new stake in Pinnacle Financial Partners during the second quarter worth about $45,000. KLP Kapitalforvaltning AS raised its stake in Pinnacle Financial Partners by 2.5% during the second quarter. KLP Kapitalforvaltning AS now owns 16,200 shares of the financial services provider’s stock worth $1,789,000 after purchasing an additional 400 shares during the period. Finally, Louisiana State Employees Retirement System boosted its holdings in Pinnacle Financial Partners by 0.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 21,600 shares of the financial services provider’s stock valued at $2,385,000 after purchasing an additional 200 shares during the last quarter. 87.40% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Trading Up 1.7%

Shares of NASDAQ:PNFP opened at $102.38 on Friday. The business’s 50 day moving average price is $97.90 and its 200-day moving average price is $93.84. Pinnacle Financial Partners has a 1 year low of $81.57 and a 1 year high of $126.06. The firm has a market capitalization of $7.94 billion, a price-to-earnings ratio of 13.01, a price-to-earnings-growth ratio of 0.48 and a beta of 1.03. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.89 and a quick ratio of 0.89.

Pinnacle Financial Partners Dividend Announcement

The firm also recently announced a dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 6th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, February 6th. Pinnacle Financial Partners’s payout ratio is 24.72%.

About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc (NASDAQ: PNFP) is a financial services company headquartered in Nashville, Tennessee, that provides banking, wealth management and insurance solutions to business and consumer clients. The company operates through two primary segments—Banking and Wealth Management & Advisory—offering a comprehensive suite of products that includes commercial and consumer lending, deposit services, treasury management, trust and investment advisory, and insurance brokerage. Pinnacle’s client-focused model emphasizes relationship-based banking, leveraging local decision-making authority and specialized industry expertise to serve diverse sectors such as healthcare, technology, real estate and professional services.

In its banking segment, Pinnacle delivers commercial and consumer loans, lines of credit, equipment financing, and mortgage lending.