Pinnacle Financial Partners (NASDAQ:PNFP) Given New $125.00 Price Target at Wells Fargo & Company

Pinnacle Financial Partners (NASDAQ:PNFP - Get Free Report) had its target price boosted by equities research analysts at Wells Fargo & Company from $105.00 to $125.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the financial services provider's stock. Wells Fargo & Company's target price would suggest a potential upside of 5.75% from the stock's current price.

PNFP has been the topic of a number of other research reports. Truist Financial initiated coverage on shares of Pinnacle Financial Partners in a research note on Tuesday, May 13th. They set a "buy" rating and a $123.00 price objective on the stock. Jefferies Financial Group started coverage on shares of Pinnacle Financial Partners in a research report on Wednesday, May 21st. They issued a "buy" rating and a $135.00 price target on the stock. UBS Group restated a "neutral" rating and issued a $121.00 price target on shares of Pinnacle Financial Partners in a research report on Wednesday. Citigroup lifted their price target on shares of Pinnacle Financial Partners from $126.00 to $134.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods decreased their price target 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. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $124.82.

Pinnacle Financial Partners Price Performance

Shares of NASDAQ PNFP traded down $1.43 during mid-day trading on Thursday, reaching $118.20. 441,639 shares of the company traded hands, compared to its average volume of 506,533. Pinnacle Financial Partners has a fifty-two week low of $81.57 and a fifty-two week high of $131.91. 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 firm has a market cap of $9.17 billion, a PE ratio of 19.13 and a beta of 1.01. The stock has a fifty day simple moving average of $108.98 and a 200-day simple moving average of $109.30.

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 EPS for the quarter, beating analysts' consensus estimates of $1.82 by $0.08. Pinnacle Financial Partners had a net margin of 15.98% and a return on equity of 9.29%. The business had revenue of $475.37 million for the quarter, compared to analyst estimates of $478.11 million. During the same quarter last year, the business earned $1.53 earnings per share. Equities research analysts anticipate that Pinnacle Financial Partners will post 7.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Pinnacle Financial Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BTC Capital Management Inc. boosted its stake in Pinnacle Financial Partners by 7.5% in the 2nd quarter. BTC Capital Management Inc. now owns 5,004 shares of the financial services provider's stock worth $551,000 after purchasing an additional 348 shares during the period. Silver Oak Securities Incorporated acquired a new position in Pinnacle Financial Partners in the 2nd quarter worth approximately $364,000. UMB Bank n.a. boosted its stake in Pinnacle Financial Partners by 31.6% in the 2nd quarter. UMB Bank n.a. now owns 1,129 shares of the financial services provider's stock worth $125,000 after purchasing an additional 271 shares during the period. Oliver Lagore Vanvalin Investment Group acquired a new position in Pinnacle Financial Partners in the 2nd quarter worth approximately $169,000. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Pinnacle Financial Partners by 20.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 23,781 shares of the financial services provider's stock worth $2,802,000 after purchasing an additional 3,977 shares during the period. Institutional investors and hedge funds 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.