Pinnacle Financial Partners - PNFP Stock Forecast, Price & News

Pinnacle Financial Partners, Inc., together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The company accepts various deposits, including savings, checking, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts. Its loan products include commercial loans, such as equipment and working capital loans; commercial real estate loans comprising investment properties and business loans secured by real estate; and loans to individuals consisting of secured and unsecured installment and term loans, lines of credit, residential first mortgage loans, and home equity loans and lines of credit, as well as provides credit cards for consumers and businesses. The company also offers various securities and other financial products; investment products; brokerage and investment advisory programs; and fiduciary and investment management services, such as personal trust, endowments, foundations, individual retirement accounts, pensions, and custody. In addition, it provides insurance agency services primarily in the property and casualty area; merger and acquisition advisory services; and private debt, equity and mezzanine, and other middle-market advisory services. Further, the company offers treasury management, telephone and online banking, mobile banking, debit cards, direct deposit and remote deposit capture, mobile deposit option, automated teller machine, and cash management services. It serves individuals, small to medium-sized businesses, and professional entities. As of December 31, 2020, the company operated 114 offices, including 48 in Tennessee, 36 in North Carolina, 20 in South Carolina, 9 in Virginia, and 1 in Georgia. Pinnacle Financial Partners, Inc. was incorporated in 2000 and is headquartered in Nashville, Tennessee.

Wall Street Analyst Weigh In

A number of research firms recently commented on PNFP. Stephens increased their target price on Pinnacle Financial Partners to $93.00 in a research note on Friday, July 22nd. Jefferies Financial Group cut Pinnacle Financial Partners from a "hold" rating to an "underperform" rating and reduced their price objective for the company from $85.00 to $66.00 in a research note on Monday, July 11th. StockNews.com raised Pinnacle Financial Partners from a "sell" rating to a "hold" rating in a research note on Tuesday, July 19th. UBS Group reduced their price objective on Pinnacle Financial Partners from $94.00 to $85.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 27th. Finally, Truist Financial reduced their price objective on Pinnacle Financial Partners from $100.00 to $92.00 and set a "buy" rating on the stock in a research note on Wednesday, June 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Pinnacle Financial Partners has a consensus rating of "Moderate Buy" and an average price target of $92.29.

Pinnacle Financial Partners Stock Down 1.0 %

PNFP traded down $0.86 on Wednesday, hitting $86.80. The company had a trading volume of 288,554 shares, compared to its average volume of 450,667. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.85 and a quick ratio of 0.85. Pinnacle Financial Partners has a 52-week low of $67.86 and a 52-week high of $111.31. The stock has a fifty day simple moving average of $75.91 and a 200-day simple moving average of $84.23. The firm has a market capitalization of $6.63 billion, a P/E ratio of 12.45 and a beta of 1.20.

Pinnacle Financial Partners (NASDAQ:PNFP - Get Rating) last released its earnings results on Tuesday, July 19th. The financial services provider reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.18. Pinnacle Financial Partners had a net margin of 36.17% and a return on equity of 10.76%. The firm had revenue of $390.08 million during the quarter, compared to analyst estimates of $367.48 million. During the same period last year, the business earned $1.68 earnings per share. The business's revenue was up 17.7% on a year-over-year basis. As a group, equities analysts expect that Pinnacle Financial Partners will post 7.35 EPS for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Friday, August 5th will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, August 4th. This represents a $0.88 annualized dividend and a dividend yield of 1.01%. Pinnacle Financial Partners's payout ratio is 12.63%.

Insider Buying and Selling

In related news, Director Gregory L. Burns sold 1,500 shares of the business's stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $77.50, for a total value of $116,250.00. Following the completion of the transaction, the director now directly owns 24,518 shares in the company, valued at approximately $1,900,145. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.10% of the stock is owned by company insiders.