Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Pinnacle Financial Partners, Inc. has an average recommendation of "Hold" from thirteen analysts, with seven hold ratings and six buy ratings.
• The company's recent quarterly earnings showed an EPS of $2.00, beating estimates, and a revenue of $504.99 million, reflecting a 15.1% year-over-year increase.
• Pinnacle Financial Partners announced a quarterly dividend of $0.24 per share, representing a yield of 1.0% and a low dividend payout ratio of 12.73%.

Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP - Get Free Report) have been given an average recommendation of "Hold" by the thirteen analysts that are currently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $112.4545.

A number of research analysts have recently commented on PNFP shares. Stephens cut their target price on Pinnacle Financial Partners from $133.00 to $104.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 29th. Hovde Group downgraded Pinnacle Financial Partners from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Wall Street Zen raised shares of Pinnacle Financial Partners from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Truist Financial decreased their target price on Pinnacle Financial Partners from $111.00 to $107.00 and set a "buy" rating for the company in a research report on Wednesday, September 24th. Finally, Jefferies Financial Group restated a "hold" rating and issued a $110.00 price target (down previously from $145.00) on shares of Pinnacle Financial Partners in a report on Friday, July 25th.

Pinnacle Financial Partners Price Performance

Pinnacle Financial Partners stock opened at $93.36 on Friday. Pinnacle Financial Partners has a 12-month low of $81.57 and a 12-month high of $131.91. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The firm has a 50-day moving average price of $94.14 and a 200-day moving average price of $101.62. The firm has a market capitalization of $7.24 billion, a PE ratio of 12.38 and a beta of 1.02.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $2.00 EPS for the quarter, beating the consensus estimate of $1.92 by $0.08. The company had revenue of $504.99 million for the quarter, compared to the consensus estimate of $495.27 million. Pinnacle Financial Partners had a net margin of 18.69% and a return on equity of 9.60%. The firm's revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.63 EPS. As a group, equities research analysts forecast that Pinnacle Financial Partners will post 7.85 EPS for the current year.

Pinnacle Financial Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 1st were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, August 1st. Pinnacle Financial Partners's dividend payout ratio (DPR) is 12.73%.

Insider Transactions at Pinnacle Financial Partners

In related news, Director Thomas C. Farnsworth III purchased 1,000 shares of Pinnacle Financial Partners stock in a transaction dated Friday, August 1st. The stock was purchased at an average cost of $84.94 per share, with a total value of $84,940.00. Following the transaction, the director owned 28,277 shares in the company, valued at approximately $2,401,848.38. The trade was a 3.67% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director G Kennedy Thompson acquired 10,000 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were bought at an average price of $85.65 per share, with a total value of $856,500.00. Following the completion of the purchase, the director directly owned 28,372 shares in the company, valued at $2,430,061.80. The trade was a 54.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders purchased 12,174 shares of company stock valued at $1,047,079. Corporate insiders own 1.46% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS raised its stake in Pinnacle Financial Partners by 0.6% in the first quarter. KLP Kapitalforvaltning AS now owns 15,800 shares of the financial services provider's stock valued at $1,675,000 after buying an additional 100 shares during the last quarter. Sheets Smith Wealth Management increased its holdings in shares of Pinnacle Financial Partners by 1.8% during the second quarter. Sheets Smith Wealth Management now owns 5,980 shares of the financial services provider's stock valued at $660,000 after acquiring an additional 105 shares in the last quarter. Brooklyn Investment Group increased its holdings in shares of Pinnacle Financial Partners by 15.3% during the first quarter. Brooklyn Investment Group now owns 827 shares of the financial services provider's stock valued at $88,000 after acquiring an additional 110 shares in the last quarter. Park Avenue Securities LLC raised its position in shares of Pinnacle Financial Partners by 1.5% in the 2nd quarter. Park Avenue Securities LLC now owns 8,177 shares of the financial services provider's stock valued at $903,000 after purchasing an additional 121 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in Pinnacle Financial Partners by 16.6% in the 1st quarter. UMB Bank n.a. now owns 858 shares of the financial services provider's stock worth $91,000 after purchasing an additional 122 shares in the last quarter. 87.40% of the stock is currently owned by hedge funds and other 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.

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