Pinnacle Financial Partners (NYSE:PNFP) Reaches New 1-Year Low – What’s Next?

Pinnacle Financial Partners, Inc. (NYSE:PNFP)’s share price hit a new 52-week low on Thursday . The company traded as low as $81.00 and last traded at $81.8050, with a volume of 3397 shares. The stock had previously closed at $82.10.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PNFP. 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 note on Wednesday, January 21st. Bank of America began coverage on Pinnacle Financial Partners in a report on Monday, December 8th. They set a “buy” rating and a $113.00 price objective on the stock. Weiss Ratings started coverage on shares of Pinnacle Financial Partners in a research note on Monday, March 9th. They issued a “hold (c+)” rating on the stock. Wall Street Zen raised shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Citigroup boosted their price target on shares of Pinnacle Financial Partners from $118.00 to $122.00 and gave the company a “buy” rating in a report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Pinnacle Financial Partners has an average rating of “Moderate Buy” and an average target price of $113.41.

Pinnacle Financial Partners Trading Up 0.1%

The stock has a market capitalization of $6.37 billion, a price-to-earnings ratio of 10.16, a P/E/G ratio of 0.38 and a beta of 1.02. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.89 and a quick ratio of 0.89.

Pinnacle Financial Partners Dividend Announcement

The business also recently declared a dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 6th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, February 6th. Pinnacle Financial Partners’s payout ratio is 24.72%.

Insiders Place Their Bets

In other Pinnacle Financial Partners news, CFO Andrew J. Jr. Gregory acquired 1,000 shares of the business’s stock in a transaction dated Thursday, February 12th. The stock was bought at an average price of $94.52 per share, with a total value of $94,520.00. Following the completion of the acquisition, the chief financial officer owned 49,485 shares of the company’s stock, valued at $4,677,322.20. This trade represents a 2.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.46% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Brown Brothers Harriman & Co. purchased a new stake in Pinnacle Financial Partners during the 3rd quarter valued at $26,000. High Point Wealth Management LLC bought a new position in shares of Pinnacle Financial Partners during the fourth quarter valued at about $27,000. BOKF NA raised its stake in shares of Pinnacle Financial Partners by 1,204.5% during the third quarter. BOKF NA now owns 287 shares of the company’s stock valued at $27,000 after acquiring an additional 265 shares during the last quarter. Activest Wealth Management purchased a new stake in shares of Pinnacle Financial Partners during the fourth quarter worth about $28,000. Finally, Covestor Ltd boosted its holdings in shares of Pinnacle Financial Partners by 193.9% during the third quarter. Covestor Ltd now owns 338 shares of the company’s stock worth $32,000 after purchasing an additional 223 shares during the period. Institutional investors own 87.40% of the company’s stock.

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.