Pinnacle Financial Partners (PNFP) Rating Lowered to Sell at ValuEngine

Pinnacle Financial Partners (NASDAQ:PNFP) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

PNFP has been the subject of several other research reports. Keefe, Bruyette & Woods raised shares of Pinnacle Financial Partners from a “market perform” rating to an “outperform” rating in a report on Friday, February 16th. Zacks Investment Research downgraded shares of Pinnacle Financial Partners from a “buy” rating to a “hold” rating in a report on Thursday, April 5th. Raymond James raised shares of Pinnacle Financial Partners from a “market perform” rating to an “outperform” rating in a report on Tuesday, April 10th. UBS Group raised shares of Pinnacle Financial Partners from a “market perform” rating to an “outperform” rating in a report on Tuesday, April 10th. Finally, Hovde Group reaffirmed an “outperform” rating and set a $75.00 target price (up previously from $72.00) on shares of Pinnacle Financial Partners in a report on Friday, June 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company’s stock. Pinnacle Financial Partners currently has an average rating of “Buy” and an average target price of $72.56.

Shares of PNFP stock opened at $65.50 on Friday. The stock has a market cap of $5.16 billion, a P/E ratio of 18.35, a P/E/G ratio of 0.87 and a beta of 1.05. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. Pinnacle Financial Partners has a 52 week low of $58.40 and a 52 week high of $69.95.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its earnings results on Monday, April 16th. The financial services provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.10 by $0.03. The business had revenue of $218.60 million during the quarter, compared to the consensus estimate of $220.48 million. Pinnacle Financial Partners had a net margin of 24.09% and a return on equity of 7.52%. Pinnacle Financial Partners’s revenue was up 83.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.83 EPS. research analysts forecast that Pinnacle Financial Partners will post 4.74 EPS for the current year.

In other Pinnacle Financial Partners news, Director Gary L. Scott sold 900 shares of Pinnacle Financial Partners stock in a transaction dated Tuesday, May 22nd. The shares were sold at an average price of $68.39, for a total value of $61,551.00. Following the completion of the sale, the director now owns 42,419 shares in the company, valued at approximately $2,901,035.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard D. Callicutt II sold 20,000 shares of Pinnacle Financial Partners stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $65.56, for a total transaction of $1,311,200.00. Following the completion of the sale, the chairman now owns 168,741 shares of the company’s stock, valued at approximately $11,062,659.96. The disclosure for this sale can be found here. Insiders sold a total of 29,900 shares of company stock valued at $1,956,311 in the last quarter. Corporate insiders own 3.39% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can grew its holdings in Pinnacle Financial Partners by 104.6% during the 4th quarter. Bank of Montreal Can now owns 6,393 shares of the financial services provider’s stock worth $425,000 after acquiring an additional 3,268 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Pinnacle Financial Partners by 7.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 320,836 shares of the financial services provider’s stock worth $21,272,000 after buying an additional 20,866 shares during the last quarter. SG Americas Securities LLC raised its holdings in Pinnacle Financial Partners by 95.7% during the fourth quarter. SG Americas Securities LLC now owns 14,871 shares of the financial services provider’s stock worth $986,000 after buying an additional 7,272 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Pinnacle Financial Partners by 49.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,681 shares of the financial services provider’s stock worth $244,000 after buying an additional 1,217 shares during the last quarter. Finally, Aperio Group LLC raised its holdings in Pinnacle Financial Partners by 20.8% during the fourth quarter. Aperio Group LLC now owns 13,106 shares of the financial services provider’s stock worth $869,000 after buying an additional 2,256 shares during the last quarter. Institutional investors and hedge funds own 76.38% of the company’s stock.

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.

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Analyst Recommendations for Pinnacle Financial Partners (NASDAQ:PNFP)

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