Pinnacle Financial Partners (PNFP) Given a $76.00 Price Target at Sandler O’Neill

Pinnacle Financial Partners (NASDAQ:PNFP) has been given a $76.00 price objective by Sandler O’Neill in a research note issued on Thursday. The firm currently has a “buy” rating on the financial services provider’s stock. Sandler O’Neill’s price target suggests a potential upside of 18.75% from the stock’s previous close.

A number of other equities research analysts also recently commented on the stock. SunTrust Banks reduced their price objective on shares of Pinnacle Financial Partners to $80.00 and set a “buy” rating for the company in a research report on Thursday. BidaskClub downgraded shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Wells Fargo & Co began coverage on shares of Pinnacle Financial Partners in a research report on Thursday, December 21st. They issued an “outperform” rating and a $80.00 price objective for the company. Zacks Investment Research upgraded shares of Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a research report on Wednesday, December 20th. Finally, Piper Jaffray Companies set a $76.00 price objective on shares of Pinnacle Financial Partners and gave the company a “buy” rating in a research report on Thursday, November 30th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. Pinnacle Financial Partners has an average rating of “Buy” and a consensus target price of $76.14.

Shares of Pinnacle Financial Partners (NASDAQ:PNFP) traded down $0.30 during trading hours on Thursday, reaching $64.00. 812,548 shares of the company were exchanged, compared to its average volume of 443,249. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.98 and a current ratio of 1.00. The firm has a market capitalization of $4,950.00, a P/E ratio of 22.86, a P/E/G ratio of 0.98 and a beta of 1.31. Pinnacle Financial Partners has a 1 year low of $58.40 and a 1 year high of $71.55.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.03. The firm had revenue of $211.20 million during the quarter, compared to the consensus estimate of $224.62 million. Pinnacle Financial Partners had a net margin of 22.27% and a return on equity of 7.24%. The firm’s revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.83 earnings per share. analysts predict that Pinnacle Financial Partners will post 4.67 earnings per share for the current fiscal year.

In other news, Director Thomas R. Sloan sold 15,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $65.97, for a total transaction of $989,550.00. Following the completion of the sale, the director now directly owns 108,257 shares in the company, valued at approximately $7,141,714.29. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $65.96, for a total transaction of $197,880.00. Following the sale, the insider now owns 52,794 shares of the company’s stock, valued at $3,482,292.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,171 shares of company stock valued at $3,682,756. Insiders own 5.41% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Advisor Group Inc. increased its stake in shares of Pinnacle Financial Partners by 14.5% during the 2nd quarter. Advisor Group Inc. now owns 2,294 shares of the financial services provider’s stock worth $144,000 after purchasing an additional 291 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of Pinnacle Financial Partners by 130.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,300 shares of the financial services provider’s stock worth $152,000 after purchasing an additional 1,300 shares in the last quarter. Riverhead Capital Management LLC increased its stake in shares of Pinnacle Financial Partners by 149.7% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,496 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 2,096 shares in the last quarter. Brightworth purchased a new position in shares of Pinnacle Financial Partners during the 3rd quarter worth approximately $241,000. Finally, Green Square Capital LLC purchased a new position in shares of Pinnacle Financial Partners during the 2nd quarter worth approximately $227,000. 71.77% of the stock is owned by institutional investors and hedge funds.

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About Pinnacle Financial Partners

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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