Pinnacle Financial Partners, Inc. (NYSE:PNFP) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Pinnacle Financial Partners, Inc. (NYSE:PNFP) has been given an average recommendation of “Moderate Buy” by the twenty-one analysts that are presently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $116.8889.

Several research analysts recently commented on the stock. Benchmark started coverage on shares of Pinnacle Financial Partners in a research note on Wednesday, June 24th. They issued a “buy” rating and a $132.00 price target on the stock. TD Cowen dropped their target price on shares of Pinnacle Financial Partners from $125.00 to $121.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Barclays reduced their target price on shares of Pinnacle Financial Partners from $135.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Robert W. Baird began coverage on shares of Pinnacle Financial Partners in a research note on Tuesday, May 19th. They set an “outperform” rating and a $115.00 price target for the company. Finally, Citigroup increased their price objective on Pinnacle Financial Partners from $122.00 to $126.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th.

Hedge Funds Weigh In On Pinnacle Financial Partners

Institutional investors have recently made changes to their positions in the company. Resources Management Corp CT ADV bought a new position in Pinnacle Financial Partners during the 1st quarter worth about $26,000. Brown Brothers Harriman & Co. purchased a new position in Pinnacle Financial Partners during the 3rd quarter valued at about $26,000. High Point Wealth Management LLC bought a new stake in shares of Pinnacle Financial Partners in the 4th quarter valued at about $27,000. BOKF NA raised its holdings in shares of Pinnacle Financial Partners by 1,204.5% in the 3rd quarter. BOKF NA now owns 287 shares of the company’s stock valued at $27,000 after purchasing an additional 265 shares in the last quarter. Finally, Activest Wealth Management purchased a new stake in shares of Pinnacle Financial Partners in the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 87.40% of the company’s stock.

Pinnacle Financial Partners Stock Down 0.0%

Shares of Pinnacle Financial Partners stock opened at $100.45 on Monday. The firm has a fifty day simple moving average of $97.33. The company has a market cap of $7.79 billion, a P/E ratio of 13.93, a PEG ratio of 0.40 and a beta of 1.04. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.42. Pinnacle Financial Partners has a 52 week low of $81.08 and a 52 week high of $119.98.

Pinnacle Financial Partners (NYSE:PNFP) last released its earnings results on Wednesday, April 22nd. The company reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.09. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates 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, research analysts anticipate that Pinnacle Financial Partners will post 10.19 earnings per share for the current year.

Pinnacle Financial Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 1st were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, May 1st. Pinnacle Financial Partners’s dividend payout ratio is currently 27.74%.

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.