Barclays Has Lowered Expectations for Pinnacle Financial Partners (NASDAQ:PNFP) Stock Price

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) had its price objective cut by equities researchers at Barclays from $135.00 to $125.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the financial services provider's stock. Barclays's price target indicates a potential upside of 38.83% from the company's current price.

Several other equities research analysts have also recently commented on the company. UBS Group initiated coverage on Pinnacle Financial Partners in a report on Tuesday, December 17th. They set a "neutral" rating and a $133.00 target price on the stock. Stephens reaffirmed an "overweight" rating and issued a $142.00 price objective on shares of Pinnacle Financial Partners in a research note on Wednesday, January 22nd. Hovde Group lowered their target price on Pinnacle Financial Partners from $135.00 to $120.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 2nd. Citigroup upped their target price on Pinnacle Financial Partners from $123.00 to $132.00 and gave the stock a "buy" rating in a research report on Tuesday, December 31st. Finally, JPMorgan Chase & Co. cut their price target on shares of Pinnacle Financial Partners from $140.00 to $138.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $124.70.

Pinnacle Financial Partners Stock Performance

Pinnacle Financial Partners stock traded down $0.29 during mid-day trading on Tuesday, reaching $90.04. The company's stock had a trading volume of 821,787 shares, compared to its average volume of 497,697. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of 15.06 and a beta of 0.94. Pinnacle Financial Partners has a twelve month low of $73.62 and a twelve month high of $131.91. The business has a 50 day moving average price of $107.69 and a 200-day moving average price of $111.93. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.37.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.10. The firm had revenue of $475.34 million for the quarter, compared to analyst estimates of $470.33 million. Pinnacle Financial Partners had a return on equity of 9.04% and a net margin of 15.48%. The firm's revenue for the quarter was up 19.9% on a year-over-year basis. During the same period last year, the company earned $1.68 earnings per share. Sell-side analysts predict that Pinnacle Financial Partners will post 7.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO M Terry Turner sold 2,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $100.63, for a total transaction of $201,260.00. Following the sale, the chief executive officer now directly owns 254,552 shares in the company, valued at $25,615,567.76. This trade represents a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David B. Ingram sold 40,000 shares of the company's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $126.50, for a total transaction of $5,060,000.00. Following the completion of the transaction, the director now directly owns 40,991 shares of the company's stock, valued at approximately $5,185,361.50. The trade was a 49.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 95,350 shares of company stock valued at $11,421,320 in the last 90 days. 1.46% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Kapitalo Investimentos Ltda bought a new stake in shares of Pinnacle Financial Partners in the fourth quarter worth $78,000. UMB Bank n.a. increased its position in shares of Pinnacle Financial Partners by 48.1% in the fourth quarter. UMB Bank n.a. now owns 736 shares of the financial services provider's stock valued at $84,000 after acquiring an additional 239 shares during the last quarter. Principal Securities Inc. raised its holdings in Pinnacle Financial Partners by 12.7% during the fourth quarter. Principal Securities Inc. now owns 808 shares of the financial services provider's stock worth $92,000 after acquiring an additional 91 shares in the last quarter. Trust Co. of Vermont acquired a new position in Pinnacle Financial Partners during the fourth quarter valued at approximately $97,000. Finally, Values First Advisors Inc. grew its stake in Pinnacle Financial Partners by 189.9% in the fourth quarter. Values First Advisors Inc. now owns 1,458 shares of the financial services provider's stock valued at $167,000 after purchasing an additional 955 shares in the last quarter. 87.40% of the stock is owned by institutional investors and hedge funds.

About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.