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

Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eleven analysts that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $121.27.

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price target on shares of Pinnacle Financial Partners from $125.00 to $105.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Keefe, Bruyette & Woods lowered their target price on shares of 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. Jefferies Financial Group initiated coverage on shares of Pinnacle Financial Partners in a report on Wednesday, May 21st. They issued a "buy" rating and a $135.00 target price for the company. Barclays reduced their price target on shares of 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. Finally, 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.

Institutional Investors Weigh In On Pinnacle Financial Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Town & Country Bank & Trust CO dba First Bankers Trust CO purchased a new position in Pinnacle Financial Partners during the first quarter worth $1,563,000. Vest Financial LLC acquired a new stake in shares of Pinnacle Financial Partners during the first quarter valued at $1,006,000. Teacher Retirement System of Texas acquired a new stake in shares of Pinnacle Financial Partners during the fourth quarter valued at $367,000. Cetera Investment Advisers increased its position in Pinnacle Financial Partners by 25.6% during the 4th quarter. Cetera Investment Advisers now owns 12,290 shares of the financial services provider's stock worth $1,406,000 after purchasing an additional 2,502 shares in the last quarter. Finally, Sage Investment Counsel LLC acquired a new position in Pinnacle Financial Partners in the 4th quarter valued at about $8,671,000. Hedge funds and other institutional investors own 87.40% of the company's stock.

Pinnacle Financial Partners Stock Performance

Shares of PNFP stock traded up $0.72 during trading hours on Thursday, reaching $109.96. 37,523 shares of the company's stock were exchanged, compared to its average volume of 505,833. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.89 and a quick ratio of 0.89. The company's 50 day moving average is $105.00 and its two-hundred day moving average is $109.45. The company has a market cap of $8.53 billion, a P/E ratio of 17.83 and a beta of 1.02. Pinnacle Financial Partners has a 1 year low of $75.85 and a 1 year high of $131.91.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last announced its quarterly earnings data 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 return on equity of 9.29% and a net margin of 15.98%. The firm had revenue of $475.37 million for the quarter, compared to analyst estimates of $478.11 million. During the same quarter in the prior year, the company posted $1.53 earnings per share. Equities research analysts anticipate that Pinnacle Financial Partners will post 7.85 EPS for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 2nd were paid a dividend of $0.24 per share. The ex-dividend date was Friday, May 2nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.87%. 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.