Pinnacle Financial Partners (NASDAQ:PNFP) had its target price dropped by SunTrust Banks to $80.00 in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. SunTrust Banks’ price target indicates a potential upside of 25.00% from the company’s current price. SunTrust Banks also issued estimates for Pinnacle Financial Partners’ Q1 2018 earnings at $1.10 EPS and FY2019 earnings at $5.30 EPS.
Other equities analysts also recently issued research reports about the company. Piper Jaffray Companies restated a “buy” rating and set a $74.00 target price on shares of Pinnacle Financial Partners in a research report on Thursday, October 19th. BidaskClub downgraded Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Hilliard Lyons downgraded Pinnacle Financial Partners from a “buy” rating to a “neutral” rating and set a $74.00 target price for the company. in a research report on Friday, October 20th. Zacks Investment Research upgraded Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Friday, October 20th. Finally, Wells Fargo & Co began coverage on Pinnacle Financial Partners in a research report on Thursday, December 21st. They set an “outperform” rating and a $80.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $76.14.
Shares of Pinnacle Financial Partners (NASDAQ:PNFP) traded down $0.30 during mid-day trading on Thursday, hitting $64.00. The company’s stock had a trading volume of 806,727 shares, compared to its average volume of 406,502. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.00 and a quick ratio of 0.98. Pinnacle Financial Partners has a 52 week low of $58.40 and a 52 week high of $71.55. The company has a market cap of $4,975.36, a P/E ratio of 22.86, a P/E/G ratio of 0.98 and a beta of 1.31.
Pinnacle Financial Partners (NASDAQ:PNFP) last posted its earnings results on Tuesday, January 16th. The financial services provider reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.03. The business had revenue of $211.20 million during the quarter, compared to the consensus estimate of $224.62 million. Pinnacle Financial Partners had a return on equity of 7.24% and a net margin of 22.27%. Pinnacle Financial Partners’s revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the company earned $0.83 EPS. equities analysts expect that Pinnacle Financial Partners will post 4.64 EPS for the current year.
In related news, Director Thomas R. Sloan sold 15,000 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was 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 of the company’s stock, valued at approximately $7,141,714.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of the firm’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $65.96, for a total value of $197,880.00. Following the sale, the insider now directly owns 52,794 shares of the company’s stock, valued at $3,482,292.24. The disclosure for this sale can be found here. Insiders have sold a total of 55,171 shares of company stock valued at $3,682,756 over the last ninety days. Insiders own 5.41% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. GW&K Investment Management LLC increased its holdings in Pinnacle Financial Partners by 7.0% during the 4th quarter. GW&K Investment Management LLC now owns 311,132 shares of the financial services provider’s stock valued at $20,628,000 after purchasing an additional 20,486 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Pinnacle Financial Partners during the 4th quarter valued at $350,000. Schwab Charles Investment Management Inc. increased its holdings in Pinnacle Financial Partners by 7.0% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 320,836 shares of the financial services provider’s stock valued at $21,272,000 after purchasing an additional 20,866 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in 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 valued at $152,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in Pinnacle Financial Partners by 104.6% during the 4th quarter. Bank of Montreal Can now owns 6,393 shares of the financial services provider’s stock valued at $425,000 after purchasing an additional 3,268 shares in the last quarter. 71.77% of the stock is owned by hedge funds and other institutional investors.
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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.