UBS Group Upgrades Pinnacle Financial Partners (PNFP) to “Neutral”

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Pinnacle Financial Partners (NASDAQ:PNFP) was upgraded by analysts at UBS Group from a “sell” rating to a “neutral” rating in a research report issued on Tuesday, www.benzinga.com reports. The firm presently has a $50.00 target price on the financial services provider’s stock. UBS Group’s price objective suggests a potential downside of 2.34% from the stock’s current price.

A number of other research firms have also commented on PNFP. BidaskClub upgraded Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, November 28th. SunTrust Banks lowered their price objective on Pinnacle Financial Partners to $65.00 and set a “buy” rating on the stock in a research note on Thursday, October 18th. Stephens reaffirmed a “buy” rating and issued a $60.00 target price on shares of Pinnacle Financial Partners in a report on Wednesday, December 19th. Wells Fargo & Co set a $72.00 target price on Pinnacle Financial Partners and gave the company a “buy” rating in a report on Tuesday, October 2nd. Finally, ValuEngine raised Pinnacle Financial Partners from a “strong sell” rating to a “sell” rating in a report on Monday, November 26th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $65.75.

Pinnacle Financial Partners stock traded up $0.10 during mid-day trading on Tuesday, reaching $51.20. 152,553 shares of the company were exchanged, compared to its average volume of 588,933. Pinnacle Financial Partners has a 12 month low of $43.23 and a 12 month high of $69.85. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market cap of $3.74 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 0.67 and a beta of 1.30.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Tuesday, October 16th. The financial services provider reported $1.21 EPS for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.02. Pinnacle Financial Partners had a return on equity of 9.09% and a net margin of 26.97%. The firm had revenue of $240.90 million for the quarter, compared to analyst estimates of $236.67 million. During the same quarter last year, the company earned $0.90 EPS. Sell-side analysts expect that Pinnacle Financial Partners will post 4.72 earnings per share for the current fiscal year.

In other Pinnacle Financial Partners news, Vice Chairman Ronald L. Samuel sold 1,600 shares of the firm’s stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $55.96, for a total value of $89,536.00. Following the sale, the insider now owns 26,375 shares of the company’s stock, valued at approximately $1,475,945. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 3.39% of the company’s stock.

Several hedge funds have recently modified their holdings of PNFP. Russell Investments Group Ltd. boosted its holdings in shares of Pinnacle Financial Partners by 17.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 44,891 shares of the financial services provider’s stock valued at $2,755,000 after acquiring an additional 6,528 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Pinnacle Financial Partners by 4.4% during the 2nd quarter. BlackRock Inc. now owns 6,485,908 shares of the financial services provider’s stock valued at $397,909,000 after acquiring an additional 273,386 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Pinnacle Financial Partners by 13.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,489,261 shares of the financial services provider’s stock valued at $91,369,000 after acquiring an additional 177,866 shares in the last quarter. FMR LLC boosted its holdings in shares of Pinnacle Financial Partners by 31.8% during the 2nd quarter. FMR LLC now owns 461,310 shares of the financial services provider’s stock valued at $28,301,000 after acquiring an additional 111,400 shares in the last quarter. Finally, Federated Investors Inc. PA boosted its holdings in shares of Pinnacle Financial Partners by 19.2% during the 2nd quarter. Federated Investors Inc. PA now owns 29,302 shares of the financial services provider’s stock valued at $1,798,000 after acquiring an additional 4,721 shares in the last quarter. 79.24% of the stock is currently owned by hedge funds and other institutional investors.

About Pinnacle Financial Partners

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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