Pinnacle Financial Partners, Inc. (NYSE:PNFP) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Pinnacle Financial Partners, with 13 buy ratings, two strong-buy ratings and four holds among 19 analysts. The average 12-month price target is $118.35, above the reported opening price of $101.46.
• Pinnacle recently reported quarterly EPS of $2.50, exceeding the $2.46 consensus estimate, while revenue matched expectations at $1.24 billion. Analysts expect full-year earnings of approximately $10.19 per share.
• The company declared a $0.50 quarterly dividend, equivalent to $2.00 annually and a 2.0% yield. Institutional investors own 87.4% of the stock, while recent insider activity included a $1.0 million purchase and $19.2 million in insider sales over the past 90 days.

Pinnacle Financial Partners, Inc. (NYSE:PNFP - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the nineteen research firms that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $118.3529.

PNFP has been the topic of several research analyst reports. Truist Financial increased their price target on shares of Pinnacle Financial Partners from $115.00 to $118.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. Weiss Ratings raised Pinnacle Financial Partners from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, June 26th. TD Cowen upped their price objective on Pinnacle Financial Partners from $116.00 to $119.00 and gave the company a "buy" rating in a research note on Monday, July 27th. Piper Sandler upped their price objective on Pinnacle Financial Partners from $122.00 to $123.00 and gave the company an "overweight" rating in a research note on Friday, July 24th. Finally, Evercore reaffirmed an "outperform" rating and set a $120.00 target price on shares of Pinnacle Financial Partners in a report on Monday, July 6th.

Pinnacle Financial Partners Price Performance

PNFP opened at $101.46 on Tuesday. The firm has a market capitalization of $7.87 billion, a PE ratio of 13.94, a PEG ratio of 0.41 and a beta of 1.03. The company has a fifty day moving average of $101.74. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. Pinnacle Financial Partners has a 12-month low of $81.08 and a 12-month high of $110.33.

Pinnacle Financial Partners (NYSE:PNFP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.04. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.24 billion. Pinnacle Financial Partners had a net margin of 15.40% and a return on equity of 10.93%. On average, equities research analysts forecast that Pinnacle Financial Partners will post 10.19 earnings per share for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 7th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, August 7th. Pinnacle Financial Partners's payout ratio is currently 27.47%.

Insiders Place Their Bets

In other Pinnacle Financial Partners news, insider Robert A. Mccabe, Jr. bought 10,013 shares of the stock in a transaction on Friday, July 24th. The stock was purchased at an average price of $99.90 per share, for a total transaction of $1,000,298.70. Following the completion of the purchase, the insider directly owned 324,233 shares in the company, valued at approximately $32,390,876.70. This trade represents a 3.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider M Terry Turner sold 66,783 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $108.01, for a total transaction of $7,213,231.83. Following the sale, the insider directly owned 302,230 shares in the company, valued at $32,643,862.30. This trade represents a 18.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 177,228 shares of company stock valued at $19,153,713. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pinnacle Financial Partners

Several institutional investors and hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. boosted its stake in Pinnacle Financial Partners by 1.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 7,377 shares of the company's stock valued at $704,000 after acquiring an additional 116 shares during the period. Villanova Investment Management Co LLC raised its position in shares of Pinnacle Financial Partners by 0.4% during the 4th quarter. Villanova Investment Management Co LLC now owns 28,511 shares of the company's stock worth $2,720,000 after purchasing an additional 118 shares during the period. Simplicity Wealth LLC lifted its holdings in shares of Pinnacle Financial Partners by 1.5% in the 1st quarter. Simplicity Wealth LLC now owns 9,155 shares of the company's stock worth $789,000 after purchasing an additional 131 shares during the last quarter. Graham Capital Management L.P. lifted its holdings in shares of Pinnacle Financial Partners by 0.7% in the 4th quarter. Graham Capital Management L.P. now owns 22,169 shares of the company's stock worth $2,115,000 after purchasing an additional 146 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Pinnacle Financial Partners by 3.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,097 shares of the company's stock valued at $486,000 after purchasing an additional 158 shares during the period. Institutional investors and hedge funds own 87.40% of the company's stock.

About Pinnacle Financial Partners

Pinnacle Financial Partners NYSE: PNFP is a bank holding company headquartered in Nashville, Tennessee, that provides a broad range of commercial and consumer banking services. Founded in 2000, the company operates through a network of banking offices and digital channels to serve individuals, small and middle-market businesses, and institutional clients. Pinnacle’s business model emphasizes relationship-based banking and tailored financial solutions for commercial borrowers and deposit customers.

The company’s product and service offerings include commercial and residential lending, treasury and payment solutions, deposit accounts, mortgage services, and cash management.

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