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

Investment analysts at Jefferies Financial Group assumed coverage on shares of Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) in a research note issued to investors 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 company's current price.

A number of other brokerages also recently weighed in on PNFP. JPMorgan Chase & Co. lowered their price objective on shares of Pinnacle Financial Partners from $125.00 to $115.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Barclays decreased their price target on Pinnacle Financial Partners from $135.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Stephens reiterated an "overweight" rating and set a $142.00 price objective on shares of Pinnacle Financial Partners in a report on Wednesday, January 22nd. Wells Fargo & Company decreased their price target on Pinnacle Financial Partners from $125.00 to $105.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods dropped their price target on Pinnacle Financial Partners from $130.00 to $115.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. Four equities 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 stock. According to MarketBeat, Pinnacle Financial Partners currently has a consensus rating of "Moderate Buy" and a consensus target price of $121.27.

Pinnacle Financial Partners Stock Performance

Shares of Pinnacle Financial Partners stock traded down $0.49 during trading hours on Wednesday, hitting $105.55. 222,496 shares of the company were exchanged, compared to its average volume of 502,454. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $8.19 billion, a price-to-earnings ratio of 17.65 and a beta of 1.00. Pinnacle Financial Partners has a 1 year low of $73.62 and a 1 year high of $131.91. The business has a 50-day moving average of $101.65 and a 200-day moving average of $112.35.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last announced 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 firm 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 EPS. As a group, analysts expect that Pinnacle Financial Partners will post 7.85 EPS for the current fiscal year.

Insider Buying and Selling at Pinnacle Financial Partners

In related news, CEO M Terry Turner sold 2,000 shares of Pinnacle Financial Partners 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 completion of the transaction, the chief executive officer now owns 254,552 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Glenda Baskin Glover sold 3,000 shares of Pinnacle Financial Partners stock in a transaction on Friday, March 14th. The shares were sold at an average price of $101.55, for a total transaction of $304,650.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 45,041 shares of company stock worth $5,062,386 over the last three months. Corporate insiders own 1.46% of the company's stock.

Institutional Trading of Pinnacle Financial Partners

A number of hedge funds have recently bought and sold shares of the business. Golden State Wealth Management LLC bought a new stake in shares of Pinnacle Financial Partners during the first quarter valued at about $48,000. SVB Wealth LLC purchased a new position in shares of Pinnacle Financial Partners in the 1st quarter worth about $51,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Pinnacle Financial Partners in the 1st quarter worth about $57,000. Kapitalo Investimentos Ltda bought a new position in shares of Pinnacle Financial Partners during the 4th quarter valued at $78,000. Finally, UMB Bank n.a. grew its holdings in shares of Pinnacle Financial Partners by 48.1% during the 4th quarter. UMB Bank n.a. now owns 736 shares of the financial services provider's stock valued at $84,000 after purchasing an additional 239 shares during the last quarter. 87.40% of the stock is currently owned by institutional investors.

Pinnacle Financial Partners Company Profile

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.