Pinnacle Financial Partners (NASDAQ:PNFP) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Thursday.

Other research analysts have also issued research reports about the company. Piper Jaffray Companies reissued a “buy” rating and set a $74.00 price objective on shares of Pinnacle Financial Partners in a report on Thursday, October 19th. Hilliard Lyons lowered Pinnacle Financial Partners from a “buy” rating to a “neutral” rating and set a $74.00 price objective for the company. in a report on Friday, October 20th. Zacks Investment Research lowered Pinnacle Financial Partners from a “buy” rating to a “sell” rating in a report on Wednesday, October 11th. Finally, SunTrust Banks reissued a “buy” rating and set a $73.00 price objective on shares of Pinnacle Financial Partners in a report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. Pinnacle Financial Partners has an average rating of “Hold” and a consensus target price of $73.75.

Shares of Pinnacle Financial Partners (NASDAQ PNFP) traded down $0.35 during midday trading on Thursday, hitting $66.60. The stock had a trading volume of 267,404 shares, compared to its average volume of 369,880. Pinnacle Financial Partners has a 52 week low of $58.40 and a 52 week high of $71.85. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $5,203.54, a price-to-earnings ratio of 19.69, a price-to-earnings-growth ratio of 1.57 and a beta of 1.31.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.01. Pinnacle Financial Partners had a return on equity of 7.36% and a net margin of 27.41%. The company had revenue of $216.20 million during the quarter, compared to analyst estimates of $217.13 million. During the same quarter in the previous year, the firm earned $0.78 earnings per share. Pinnacle Financial Partners’s revenue was up 102.8% on a year-over-year basis. analysts anticipate that Pinnacle Financial Partners will post 3.56 EPS for the current year.

In other Pinnacle Financial Partners news, CFO Harold R. Carpenter sold 17,711 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $67.45, for a total value of $1,194,606.95. Following the completion of the sale, the chief financial officer now owns 107,090 shares of the company’s stock, valued at $7,223,220.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $64.41, for a total value of $193,230.00. Following the completion of the sale, the insider now directly owns 58,794 shares of the company’s stock, valued at approximately $3,786,921.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,711 shares of company stock valued at $4,483,257. 5.41% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Alps Advisors Inc. boosted its stake in Pinnacle Financial Partners by 0.3% in the second quarter. Alps Advisors Inc. now owns 7,121 shares of the financial services provider’s stock worth $447,000 after buying an additional 19 shares in the last quarter. M&T Bank Corp boosted its stake in shares of Pinnacle Financial Partners by 5.3% during the second quarter. M&T Bank Corp now owns 3,799 shares of the financial services provider’s stock valued at $238,000 after purchasing an additional 191 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Pinnacle Financial Partners by 2.7% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 7,854 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 209 shares during the period. HighTower Advisors LLC boosted its stake in shares of Pinnacle Financial Partners by 3.9% during the second quarter. HighTower Advisors LLC now owns 5,820 shares of the financial services provider’s stock valued at $366,000 after purchasing an additional 220 shares during the period. Finally, Advisor Group Inc. boosted its stake in shares of Pinnacle Financial Partners by 14.5% during the second quarter. Advisor Group Inc. now owns 2,294 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 291 shares during the period. 71.79% of the stock is owned by institutional investors and hedge funds.

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Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc is a bank holding company. The Company operates through its subsidiary, Pinnacle Bank. The Company operates as a community bank primarily in the urban markets of Nashville, Knoxville, Memphis and Chattanooga, Tennessee and other counties. It provides the personalized service associated with small community banks, while seeking to offer the products and services, such as investments and treasury management.

Analyst Recommendations for Pinnacle Financial Partners (NASDAQ:PNFP)

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