Pinnacle Financial Partners (NASDAQ:PNFP) Receives "Hold (C+)" Rating from Weiss Ratings

Key Points

• Pinnacle Financial Partners' stock has been given a "Hold (C+)" rating by Weiss Ratings, which is consistent with the consensus rating from multiple analysts.
• Analysts are revising their price targets for the stock, with Jefferies Financial Group lowering theirs to $110 and Keefe, Bruyette & Woods reducing it to $95.
• The company's recent earnings report showed a quarterly EPS of $2.00, which exceeded analysts' expectations, alongside a year-over-year revenue increase of 15.1%.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report)'s stock had its "hold (c+)" rating restated by stock analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other research analysts have also recently weighed in on the stock. Jefferies Financial Group reaffirmed a "hold" rating and issued a $110.00 price objective (down previously from $145.00) on shares of Pinnacle Financial Partners in a report on Friday, July 25th. Hovde Group cut shares of Pinnacle Financial Partners from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Keefe, Bruyette & Woods cut their price objective on shares of Pinnacle Financial Partners from $125.00 to $95.00 and set a "market perform" rating for the company in a report on Wednesday, August 13th. Barclays set a $120.00 price objective on shares of Pinnacle Financial Partners in a report on Wednesday. Finally, Cowen began coverage on shares of Pinnacle Financial Partners in a report on Wednesday, September 24th. They issued a "buy" rating for the company. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Pinnacle Financial Partners has a consensus rating of "Hold" and an average price target of $112.00.

Pinnacle Financial Partners Trading Down 0.4%

NASDAQ PNFP opened at $91.55 on Wednesday. The company has a market capitalization of $7.10 billion, a PE ratio of 12.14 and a beta of 1.02. The company has a fifty day moving average of $94.20 and a 200 day moving average of $101.34. Pinnacle Financial Partners has a 1 year low of $81.57 and a 1 year high of $131.91. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.89 and a quick ratio of 0.88.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $2.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.92 by $0.08. The company had revenue of $504.99 million during 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 quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.63 earnings per share. Research analysts forecast that Pinnacle Financial Partners will post 7.85 earnings per share for the current year.

Insider Transactions at Pinnacle Financial Partners

In related news, Director G Kennedy Thompson bought 10,000 shares of the business's stock in a transaction dated Friday, August 1st. The stock was acquired 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 of the company's stock, valued at approximately $2,430,061.80. This trade represents a 54.43% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Harold R. Carpenter bought 1,000 shares of the business's stock in a transaction dated Thursday, July 31st. The shares were bought at an average cost of $89.73 per share, with a total value of $89,730.00. Following the purchase, the chief financial officer directly owned 105,050 shares of the company's stock, valued at approximately $9,426,136.50. This represents a 0.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 12,174 shares of company stock valued at $1,047,079 over the last 90 days. Corporate insiders own 1.46% of the company's stock.

Institutional Trading of Pinnacle Financial Partners

Institutional investors and hedge funds have recently modified their holdings of the stock. KLP Kapitalforvaltning AS grew its stake in Pinnacle Financial Partners by 0.6% during the 1st quarter. KLP Kapitalforvaltning AS now owns 15,800 shares of the financial services provider's stock valued at $1,675,000 after acquiring an additional 100 shares in the last quarter. Sheets Smith Wealth Management grew its stake in Pinnacle Financial Partners by 1.8% during the 2nd 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 grew its stake in Pinnacle Financial Partners by 15.3% during the 1st 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 grew its stake in Pinnacle Financial Partners by 1.5% during the 2nd quarter. Park Avenue Securities LLC now owns 8,177 shares of the financial services provider's stock valued at $903,000 after acquiring an additional 121 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in Pinnacle Financial Partners by 16.6% during the 1st quarter. UMB Bank n.a. now owns 858 shares of the financial services provider's stock valued at $91,000 after acquiring an additional 122 shares in the last quarter. Hedge funds and other 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.

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