Pinnacle Financial Partners (PNFP) Stock Price Down 1.7%

Pinnacle Financial Partners (NASDAQ:PNFP) shares dropped 1.7% during mid-day trading on Friday . The stock traded as low as $63.50 and last traded at $62.55. Approximately 589,379 shares traded hands during mid-day trading, an increase of 7% from the average daily volume of 551,096 shares. The stock had previously closed at $63.65.

PNFP has been the subject of several recent analyst reports. Wells Fargo initiated coverage on Pinnacle Financial Partners in a research note on Thursday, December 21st. They issued an “outperform” rating and a $80.00 price target for the company. BidaskClub raised Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Zacks Investment Research raised Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $76.00 price target for the company in a research note on Wednesday, December 20th. Piper Jaffray Companies set a $76.00 price target on Pinnacle Financial Partners and gave the stock a “buy” rating in a research note on Thursday, November 30th. Finally, UBS initiated coverage on Pinnacle Financial Partners in a research note on Wednesday. They issued a “sell” rating and a $56.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $73.63.

How to Become a New Pot Stock Millionaire

The stock has a market cap of $4,957.51, a P/E ratio of 22.09, a PEG ratio of 0.96 and a beta of 1.07. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.48.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.03. Pinnacle Financial Partners had a return on equity of 7.24% and a net margin of 22.27%. The company had revenue of $211.20 million during the quarter, compared to analysts’ expectations of $224.62 million. During the same quarter in the prior year, the business posted $0.83 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. sell-side analysts predict that Pinnacle Financial Partners will post 4.71 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 2nd were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $0.56 annualized dividend and a yield of 0.91%. Pinnacle Financial Partners’s dividend payout ratio is currently 20.00%.

In related news, CAO Hugh M. Queener sold 21,253 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $67.51, for a total transaction of $1,434,790.03. Following the completion of the transaction, the chief accounting officer now owns 235,471 shares of the company’s stock, valued at $15,896,647.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $63.47, for a total value of $190,410.00. Following the transaction, the insider now directly owns 46,794 shares of the company’s stock, valued at approximately $2,970,015.18. The disclosure for this sale can be found here. Insiders have sold 133,882 shares of company stock valued at $9,012,711 in the last ninety days. Company insiders own 3.39% of the company’s stock.

A number of hedge funds have recently made changes to their positions in PNFP. Nationwide Fund Advisors boosted its stake in Pinnacle Financial Partners by 0.9% during the third quarter. Nationwide Fund Advisors now owns 199,445 shares of the financial services provider’s stock valued at $13,353,000 after buying an additional 1,852 shares in the last quarter. Prudential Financial Inc. boosted its stake in Pinnacle Financial Partners by 4.4% during the third quarter. Prudential Financial Inc. now owns 46,402 shares of the financial services provider’s stock valued at $3,107,000 after buying an additional 1,950 shares in the last quarter. Sei Investments Co. boosted its stake in Pinnacle Financial Partners by 475.3% during the third quarter. Sei Investments Co. now owns 25,187 shares of the financial services provider’s stock valued at $1,687,000 after buying an additional 20,809 shares in the last quarter. Advisor Group Inc. boosted its stake in Pinnacle Financial Partners by 33.8% during the third quarter. Advisor Group Inc. now owns 3,069 shares of the financial services provider’s stock valued at $206,000 after buying an additional 775 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in Pinnacle Financial Partners by 17.0% during the third quarter. Rhumbline Advisers now owns 156,275 shares of the financial services provider’s stock valued at $10,463,000 after buying an additional 22,751 shares in the last quarter. 72.14% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: This report was first posted by Ticker Report and is owned by of Ticker Report. If you are reading this report on another site, it was stolen and republished in violation of US & international trademark & copyright law. The original version of this report can be accessed at https://www.tickerreport.com/banking-finance/3298605/pinnacle-financial-partners-pnfp-stock-price-down-1-7.html.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc operates as a bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The company accepts various deposits, including savings, checking, interest-bearing checking, money market, and certificate of deposit accounts.

Receive News & Ratings for Pinnacle Financial Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle Financial Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Appian  Major Shareholder Qualified Master Fund L. Abdiel Acquires 39,200 Shares
Appian Major Shareholder Qualified Master Fund L. Abdiel Acquires 39,200 Shares
Insider Selling: Masimo  Insider Sells 24,000 Shares of Stock
Insider Selling: Masimo Insider Sells 24,000 Shares of Stock
GMS  Insider G Michael Callahan, Jr. Sells 12,500 Shares of Stock
GMS Insider G Michael Callahan, Jr. Sells 12,500 Shares of Stock
Q3 2018 EPS Estimates for Canadian National Railway Reduced by Analyst
Q3 2018 EPS Estimates for Canadian National Railway Reduced by Analyst
Head to Head Review: Cactus  & Weatherford International
Head to Head Review: Cactus & Weatherford International
Contrasting Robert Half International  & Its Peers
Contrasting Robert Half International & Its Peers


© 2006-2018 Ticker Report. Google+.