Pinnacle Financial Partners (NASDAQ:PNFP) Earns Buy Rating from Analysts at Jefferies Financial Group

Stock analysts at Jefferies Financial Group initiated coverage on shares of Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) in a report released on Wednesday, Marketbeat reports. The brokerage set a "buy" rating and a $135.00 price target on the financial services provider's stock. Jefferies Financial Group's price objective suggests a potential upside of 27.90% from the stock's previous close.

Other equities research analysts have also issued reports about the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Pinnacle Financial Partners from $130.00 to $115.00 and set a "market perform" rating for the company in a report on Thursday, April 17th. Barclays decreased their target price on shares of Pinnacle Financial Partners from $135.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company cut their price target on shares of Pinnacle Financial Partners from $125.00 to $105.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Stephens restated an "overweight" rating and issued a $142.00 target price on shares of Pinnacle Financial Partners in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. lowered their price target on shares of Pinnacle Financial Partners from $125.00 to $115.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Pinnacle Financial Partners has a consensus rating of "Moderate Buy" and a consensus target price of $121.27.

Pinnacle Financial Partners Price Performance

Shares of NASDAQ:PNFP traded down $0.49 on Wednesday, hitting $105.55. The company's stock had a trading volume of 222,496 shares, compared to its average volume of 503,736. The company has a market capitalization of $8.19 billion, a PE ratio of 17.65 and a beta of 1.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.90 and a quick ratio of 0.90. The company has a 50-day simple moving average of $101.65 and a 200 day simple moving average of $112.30. Pinnacle Financial Partners has a 1 year low of $73.62 and a 1 year high of $131.91.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last released its earnings results on Monday, April 14th. The financial services provider reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.82 by $0.08. The business had revenue of $475.37 million for the quarter, compared to analysts' expectations of $478.11 million. Pinnacle Financial Partners had a return on equity of 9.04% and a net margin of 15.48%. During the same quarter in the prior year, the firm earned $1.53 earnings per share. Sell-side analysts forecast that Pinnacle Financial Partners will post 7.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO M Terry Turner sold 2,000 shares of Pinnacle Financial Partners stock in a transaction dated 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 owns 254,552 shares of the company's stock, valued at approximately $25,615,567.76. The trade was a 0.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Glenda Baskin Glover sold 3,000 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $101.55, for a total transaction of $304,650.00. Following the completion of the transaction, the director now directly owns 9,943 shares of the company's stock, valued at approximately $1,009,711.65. The trade was a 23.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,041 shares of company stock worth $509,986. 1.46% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new stake in shares of Pinnacle Financial Partners during the first quarter valued at approximately $48,000. SVB Wealth LLC purchased a new position in Pinnacle Financial Partners during the first quarter valued at $51,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Pinnacle Financial Partners during the 1st quarter valued at $57,000. Kapitalo Investimentos Ltda bought a new stake in shares of Pinnacle Financial Partners during the 4th quarter valued at $78,000. Finally, UMB Bank n.a. grew its position in shares of Pinnacle Financial Partners by 48.1% in the 4th quarter. UMB Bank n.a. now owns 736 shares of the financial services provider's stock worth $84,000 after buying an additional 239 shares during the period. Hedge funds and other institutional investors own 87.40% of the company's stock.

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.