Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Given Average Recommendation of "Moderate Buy" by Brokerages

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the eleven brokerages that are covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $121.27.

A number of equities research analysts recently issued reports on PNFP shares. 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. Truist Financial started coverage on Pinnacle Financial Partners in a report on Tuesday, May 13th. They issued a "buy" rating and a $123.00 price target on the stock. Jefferies Financial Group started coverage on Pinnacle Financial Partners in a research report on Wednesday, May 21st. They issued a "buy" rating and a $135.00 price objective for the company. Keefe, Bruyette & Woods lowered their price objective 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. Finally, Hovde Group upgraded Pinnacle Financial Partners from a "market perform" rating to an "outperform" rating and set a $111.00 price objective for the company in a research note on Wednesday, April 16th.

Institutional Investors Weigh In On Pinnacle Financial Partners

Several large investors have recently bought and sold shares of the company. Town & Country Bank & Trust CO dba First Bankers Trust CO purchased a new stake in shares of Pinnacle Financial Partners in the first quarter valued at approximately $1,563,000. Vest Financial LLC acquired a new stake in shares of Pinnacle Financial Partners in the first quarter valued at $1,006,000. Teacher Retirement System of Texas acquired a new stake in shares of Pinnacle Financial Partners in the fourth quarter valued at $367,000. Cetera Investment Advisers increased its holdings in Pinnacle Financial Partners by 25.6% in the fourth quarter. Cetera Investment Advisers now owns 12,290 shares of the financial services provider's stock valued at $1,406,000 after buying an additional 2,502 shares during the last quarter. Finally, Sage Investment Counsel LLC purchased a new position in Pinnacle Financial Partners in the fourth quarter valued at $8,671,000. 87.40% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Trading Up 2.2%

Shares of NASDAQ:PNFP traded up $2.37 during trading on Thursday, hitting $109.24. The company had a trading volume of 525,465 shares, compared to its average volume of 506,625. The stock has a market cap of $8.47 billion, a price-to-earnings ratio of 17.68 and a beta of 1.02. Pinnacle Financial Partners has a one year low of $75.63 and a one year high of $131.91. The company has a fifty day simple moving average of $105.00 and a two-hundred day simple moving average of $109.45. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.89 and a quick ratio of 0.89.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last posted its quarterly earnings data on Monday, April 14th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.08. Pinnacle Financial Partners had a return on equity of 9.29% and a net margin of 15.98%. The business had revenue of $475.37 million during the quarter, compared to analyst estimates of $478.11 million. During the same period last year, the company earned $1.53 EPS. As a group, equities analysts forecast that Pinnacle Financial Partners will post 7.85 earnings per share for the current year.

Pinnacle Financial Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 2nd were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $0.96 annualized dividend and a yield of 0.88%. Pinnacle Financial Partners's dividend payout ratio (DPR) 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.