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

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

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

Insider Buying and Selling at Pinnacle Financial Partners

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 value of $201,260.00. Following the sale, the chief executive officer now owns 254,552 shares of the company's stock, valued at $25,615,567.76. The trade was a 0.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 transaction, the director now directly owns 9,943 shares of the company's stock, 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. In the last three months, insiders have sold 5,041 shares of company stock valued at $509,986. 1.46% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PNFP. Golden State Wealth Management LLC acquired a new position in shares of Pinnacle Financial Partners during the 1st quarter worth $48,000. SVB Wealth LLC purchased a new stake in Pinnacle Financial Partners during the first quarter worth about $51,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Pinnacle Financial Partners during the first quarter worth about $57,000. Kapitalo Investimentos Ltda purchased a new position in Pinnacle Financial Partners in the fourth quarter valued at about $78,000. Finally, Principal Securities Inc. increased its holdings in Pinnacle Financial Partners by 12.7% in the fourth quarter. Principal Securities Inc. now owns 808 shares of the financial services provider's stock valued at $92,000 after buying an additional 91 shares in the last quarter. Institutional investors and hedge funds own 87.40% of the company's stock.

Pinnacle Financial Partners Stock Down 0.8%

PNFP stock traded down $0.90 during mid-day trading on Friday, reaching $106.35. The company had a trading volume of 337,939 shares, compared to its average volume of 503,230. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $8.25 billion, a price-to-earnings ratio of 17.78 and a beta of 1.00. The firm has a fifty day simple moving average of $101.58 and a 200 day simple moving average of $111.68. Pinnacle Financial Partners has a fifty-two week low of $73.62 and a fifty-two week 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 earnings per share for the quarter, topping analysts' consensus estimates of $1.82 by $0.08. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. The firm had revenue of $475.37 million for the quarter, compared to analyst estimates of $478.11 million. During the same period in the prior year, the firm earned $1.53 earnings per share. Analysts forecast that Pinnacle Financial Partners will post 7.85 earnings per share for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 2nd were given a $0.24 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $0.96 dividend on an annualized basis and a yield of 0.90%. Pinnacle Financial Partners's dividend payout ratio (DPR) is 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.