Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Receives $121.27 Consensus Target Price from Analysts

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eleven research firms that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $121.27.

PNFP has been the subject of several analyst reports. JPMorgan Chase & Co. lowered their target price 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. Barclays decreased their price objective on shares of Pinnacle Financial Partners from $135.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods dropped their target price on Pinnacle Financial Partners from $130.00 to $115.00 and set a "market perform" rating for the company in a research report on Thursday, April 17th. Hovde Group upgraded Pinnacle Financial Partners from a "market perform" rating to an "outperform" rating and set a $111.00 price target on the stock in a report on Wednesday, April 16th. Finally, Truist Financial assumed coverage on Pinnacle Financial Partners in a research note on Tuesday, May 13th. They set a "buy" rating and a $123.00 price target for the company.

Insider Transactions at Pinnacle Financial Partners

In other news, CEO M Terry Turner sold 2,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $100.63, for a total value of $201,260.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Glenda Baskin Glover sold 3,000 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $101.55, for a total value of $304,650.00. Following the transaction, the director now directly owns 9,943 shares in the company, valued at $1,009,711.65. This represents a 23.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,041 shares of company stock valued at $509,986 in the last 90 days. Insiders own 1.46% of the company's stock.

Hedge Funds Weigh In On Pinnacle Financial Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. KBC Group NV raised its holdings in shares of Pinnacle Financial Partners by 1,054.3% in the fourth quarter. KBC Group NV now owns 26,722 shares of the financial services provider's stock worth $3,057,000 after buying an additional 24,407 shares during the last quarter. Beacon Capital Management LLC increased its position in shares of Pinnacle Financial Partners by 101,563.6% in the 4th quarter. Beacon Capital Management LLC now owns 22,366 shares of the financial services provider's stock valued at $2,558,000 after acquiring an additional 22,344 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO acquired a new position in shares of Pinnacle Financial Partners in the 1st quarter valued at $1,563,000. Teacher Retirement System of Texas purchased a new position in Pinnacle Financial Partners in the 4th quarter worth $367,000. Finally, Waldron Private Wealth LLC acquired a new stake in Pinnacle Financial Partners during the 4th quarter worth about $239,000. 87.40% of the stock is owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Price Performance

Shares of NASDAQ PNFP traded down $2.18 during mid-day trading on Friday, hitting $105.80. 349,859 shares of the company's stock traded hands, compared to its average volume of 502,785. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.90 and a quick ratio of 0.90. Pinnacle Financial Partners has a 1 year low of $73.62 and a 1 year high of $131.91. The company's 50-day moving average is $101.54 and its two-hundred day moving average is $111.54. The company has a market capitalization of $8.21 billion, a P/E ratio of 17.69 and a beta of 1.00.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last issued its quarterly earnings data on Monday, April 14th. The financial services provider reported $1.90 earnings per share (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 the consensus estimate 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 period in the prior year, the business posted $1.53 earnings per share. On average, equities analysts anticipate that Pinnacle Financial Partners will post 7.85 EPS for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 2nd were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend was Friday, May 2nd. Pinnacle Financial Partners's dividend payout ratio is currently 15.53%.

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.