Stephens Has Lowered Expectations for Pinnacle Financial Partners (NASDAQ:PNFP) Stock Price

Key Points

• Analysts at Stephens have cut their price target for Pinnacle Financial Partners from $133.00 to $104.00, maintaining an "equal weight" rating.
• Pinnacle Financial Partners recently reported a quarterly earnings per share (EPS) of $2.00, exceeding analyst expectations of $1.92, with revenue increasing by 15.1% year-over-year.
• The current consensus rating for Pinnacle Financial Partners is "Hold," with an average price target of $118.30 from seven analysts.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) had its target price dropped by analysts at Stephens from $133.00 to $104.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the financial services provider's stock. Stephens' target price suggests a potential upside of 15.54% from the company's current price.

A number of other equities research analysts also recently weighed in on the company. Keefe, Bruyette & Woods lifted their price objective on Pinnacle Financial Partners from $115.00 to $130.00 and gave the company a "market perform" rating in a report on Thursday, July 17th. JPMorgan Chase & Co. lifted their price objective on Pinnacle Financial Partners from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Wells Fargo & Company decreased their price objective on Pinnacle Financial Partners from $125.00 to $110.00 and set an "equal weight" rating on the stock in a report on Friday, July 25th. Citigroup decreased their price objective on Pinnacle Financial Partners from $140.00 to $120.00 and set a "buy" rating on the stock in a report on Friday, July 25th. Finally, Hovde Group downgraded Pinnacle Financial Partners from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $118.30.

Pinnacle Financial Partners Stock Performance

PNFP stock traded down $2.28 during trading on Tuesday, reaching $90.01. 1,309,004 shares of the stock were exchanged, compared to its average volume of 1,359,449. Pinnacle Financial Partners has a twelve month low of $81.57 and a twelve month high of $131.91. The company has a market capitalization of $6.98 billion, a P/E ratio of 11.94 and a beta of 1.01. The stock has a 50 day simple moving average of $108.93 and a 200-day simple moving average of $108.84. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last released its earnings results on Tuesday, July 15th. The financial services provider reported $2.00 earnings per share for the quarter, topping analysts' consensus estimates of $1.92 by $0.08. Pinnacle Financial Partners had a return on equity of 9.60% and a net margin of 18.69%. The business had revenue of $504.99 million for the quarter, compared to the consensus estimate of $495.27 million. During the same period last year, the business earned $1.63 earnings per share. The firm's revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Pinnacle Financial Partners will post 7.85 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PNFP. GAMMA Investing LLC raised its position in Pinnacle Financial Partners by 51.7% in the 1st quarter. GAMMA Investing LLC now owns 1,616 shares of the financial services provider's stock worth $171,000 after purchasing an additional 551 shares during the last quarter. Golden State Wealth Management LLC bought a new position in Pinnacle Financial Partners in the 1st quarter worth approximately $48,000. M&T Bank Corp raised its position in Pinnacle Financial Partners by 9.0% in the 1st quarter. M&T Bank Corp now owns 8,187 shares of the financial services provider's stock worth $868,000 after purchasing an additional 674 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Pinnacle Financial Partners by 3.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 142,165 shares of the financial services provider's stock worth $14,892,000 after purchasing an additional 4,356 shares during the last quarter. Finally, Impax Asset Management Group plc bought a new position in Pinnacle Financial Partners in the 1st quarter worth approximately $7,423,000. Institutional investors own 87.40% of the company's stock.

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.