Several other research analysts have also commented on the stock. Stephens restated a “hold” rating and issued a $63.00 price objective on shares of Pinnacle Financial Partners in a report on Monday, September 16th. ValuEngine lowered shares of Pinnacle Financial Partners from a “sell” rating to a “strong sell” rating in a report on Monday, October 21st. JPMorgan Chase & Co. assumed coverage on shares of Pinnacle Financial Partners in a report on Wednesday, September 18th. They issued a “neutral” rating and a $62.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $60.83.
NASDAQ PNFP traded down $0.66 during trading on Wednesday, hitting $59.15. The company had a trading volume of 4,091 shares, compared to its average volume of 413,784. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. Pinnacle Financial Partners has a one year low of $43.23 and a one year high of $61.60. The company has a market cap of $4.64 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 0.70 and a beta of 1.43. The company’s fifty day moving average is $57.91 and its 200-day moving average is $56.52.
In related news, CEO M Terry Turner sold 47,174 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $56.96, for a total transaction of $2,687,031.04. Following the sale, the chief executive officer now directly owns 365,197 shares of the company’s stock, valued at approximately $20,801,621.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Richard D. Callicutt II sold 21,841 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $60.42, for a total transaction of $1,319,633.22. Following the transaction, the chairman now owns 112,645 shares in the company, valued at approximately $6,806,010.90. The disclosure for this sale can be found here. Insiders sold a total of 106,576 shares of company stock worth $6,213,470 over the last ninety days. Insiders own 2.97% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cerebellum GP LLC purchased a new position in shares of Pinnacle Financial Partners in the third quarter valued at $29,000. Laurel Wealth Advisors LLC bought a new stake in shares of Pinnacle Financial Partners during the second quarter worth $33,000. CENTRAL TRUST Co lifted its position in shares of Pinnacle Financial Partners by 376.7% during the second quarter. CENTRAL TRUST Co now owns 715 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 565 shares during the last quarter. Prime Capital Investment Advisors LLC bought a new stake in shares of Pinnacle Financial Partners during the second quarter worth $68,000. Finally, Synovus Financial Corp lifted its position in shares of Pinnacle Financial Partners by 529.1% during the third quarter. Synovus Financial Corp now owns 1,189 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 79.87% of the company’s stock.
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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