Pinnacle Financial Partners (NYSE:PNFP) Lowered to Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Pinnacle Financial Partners (NYSE:PNFP) from a "hold" to a "sell" in a note issued to investors on Saturday.
• Despite the downgrade, analysts' consensus remains a Moderate Buy with a consensus target price of $112.25, and several firms (including UBS) have recently issued buy/upgraded ratings and raised targets.
• Shares opened at $96.94 (one‑year range $81.08–$120.46); Pinnacle has a market cap of $7.52B and a P/E of 11.98, and CFO Andrew J. Gregory purchased 1,000 shares at $94.52, increasing his stake by about 2.06%.

Pinnacle Financial Partners (NYSE:PNFP - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

A number of other equities analysts have also commented on PNFP. Truist Financial set a $100.00 price objective on Pinnacle Financial Partners in a research note on Friday, January 9th. Evercore restated an "outperform" rating on shares of Pinnacle Financial Partners in a research note on Thursday, February 5th. Weiss Ratings started coverage on Pinnacle Financial Partners in a report on Monday, March 9th. They issued a "hold (c+)" rating on the stock. UBS Group raised Pinnacle Financial Partners from a "neutral" rating to a "buy" rating and raised their target price for the company from $106.00 to $110.00 in a report on Tuesday, April 7th. Finally, Keefe, Bruyette & Woods raised their target price on Pinnacle Financial Partners from $95.00 to $100.00 and gave the company a "market perform" rating in a report on Friday, January 9th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $112.25.

Pinnacle Financial Partners Stock Performance

Pinnacle Financial Partners stock opened at $96.94 on Friday. Pinnacle Financial Partners has a one year low of $81.08 and a one year high of $120.46. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $7.52 billion, a price-to-earnings ratio of 11.98, a P/E/G ratio of 0.31 and a beta of 1.00.

Insider Buying and Selling at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, CFO Andrew J. Jr. Gregory bought 1,000 shares of Pinnacle Financial Partners stock in a transaction on Thursday, February 12th. The shares were purchased at an average price of $94.52 per share, with a total value of $94,520.00. Following the acquisition, the chief financial officer owned 49,485 shares in the company, valued at $4,677,322.20. This trade represents a 2.06% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.46% of the company's stock.

Institutional Investors Weigh In On Pinnacle Financial Partners

A number of large investors have recently modified their holdings of PNFP. Brown Brothers Harriman & Co. acquired a new stake in shares of Pinnacle Financial Partners during the 3rd quarter valued at $26,000. High Point Wealth Management LLC acquired a new stake in shares of Pinnacle Financial Partners during the 4th quarter valued at $27,000. BOKF NA boosted its holdings in shares of Pinnacle Financial Partners by 1,204.5% during the 3rd quarter. BOKF NA now owns 287 shares of the company's stock valued at $27,000 after acquiring an additional 265 shares in the last quarter. Activest Wealth Management acquired a new stake in shares of Pinnacle Financial Partners during the 4th quarter valued at $28,000. Finally, Covestor Ltd boosted its holdings in shares of Pinnacle Financial Partners by 193.9% during the 3rd quarter. Covestor Ltd now owns 338 shares of the company's stock valued at $32,000 after acquiring an additional 223 shares in the last quarter. Institutional investors and hedge funds own 87.40% of the company's stock.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners NYSE: PNFP is a bank holding company headquartered in Nashville, Tennessee, that provides a broad range of commercial and consumer banking services. Founded in 2000, the company operates through a network of banking offices and digital channels to serve individuals, small and middle-market businesses, and institutional clients. Pinnacle’s business model emphasizes relationship-based banking and tailored financial solutions for commercial borrowers and deposit customers.

The company’s product and service offerings include commercial and residential lending, treasury and payment solutions, deposit accounts, mortgage services, and cash management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.