Pinnacle Financial Partners (PNFP) Rating Increased to Overweight at Stephens

Pinnacle Financial Partners (NASDAQ:PNFP) was upgraded by equities research analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research report issued on Monday, Marketbeat.com reports.

Several other research analysts have also commented on the stock. SunTrust Banks dropped their price objective on shares of Pinnacle Financial Partners to $80.00 and set a “buy” rating for the company in a research note on Thursday, January 18th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $74.00 price objective on shares of Pinnacle Financial Partners in a research note on Thursday, October 19th. Hilliard Lyons raised shares of Pinnacle Financial Partners from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 8th. Zacks Investment Research raised 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 note on Wednesday, December 20th. Finally, Sandler O’Neill set a $76.00 price objective on shares of Pinnacle Financial Partners and gave the stock a “buy” rating in a research note on Thursday, January 18th. One analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $76.14.

Pinnacle Financial Partners (NASDAQ PNFP) traded down $1.95 during mid-day trading on Monday, hitting $62.25. 1,160,000 shares of the company were exchanged, compared to its average volume of 483,893. Pinnacle Financial Partners has a 1 year low of $58.40 and a 1 year high of $71.55. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.99 and a current ratio of 1.00. The stock has a market capitalization of $4,830.00, a price-to-earnings ratio of 22.23, a PEG ratio of 0.97 and a beta of 1.13.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its earnings results on Tuesday, January 16th. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. Pinnacle Financial Partners had a net margin of 22.27% and a return on equity of 7.24%. The firm had revenue of $211.20 million during the quarter, compared to analyst estimates of $224.62 million. During the same period last year, the firm posted $0.83 earnings per share. Pinnacle Financial Partners’s revenue for the quarter was down 2.3% compared to the same quarter last year. research analysts anticipate that Pinnacle Financial Partners will post 4.71 EPS for the current fiscal year.

In other news, Vice Chairman Ronald L. Samuel sold 3,000 shares of Pinnacle Financial Partners stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $65.96, for a total transaction of $197,880.00. Following the completion of the sale, the insider now directly owns 52,794 shares in the company, valued at $3,482,292.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ed C. Loughry, Jr. sold 1,873 shares of Pinnacle Financial Partners stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $64.30, for a total value of $120,433.90. Following the sale, the director now owns 95,109 shares of the company’s stock, valued at $6,115,508.70. The disclosure for this sale can be found here. Insiders have sold 57,044 shares of company stock valued at $3,791,760 over the last ninety days. 5.41% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in PNFP. Advisor Group Inc. lifted its position 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 worth $144,000 after purchasing an additional 291 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of Pinnacle Financial Partners by 130.0% during the fourth 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 during the last quarter. Green Square Capital LLC bought a new stake in shares of Pinnacle Financial Partners during the second quarter worth $227,000. Aldebaran Financial Inc. bought a new stake in shares of Pinnacle Financial Partners during the second quarter worth $231,000. Finally, M&T Bank Corp lifted its position 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 worth $238,000 after purchasing an additional 191 shares during the last quarter. Institutional investors and hedge funds own 72.78% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Pinnacle Financial Partners (PNFP) Rating Increased to Overweight at Stephens” was originally reported by American Banking News and is owned by of American Banking News. If you are reading this story on another website, it was illegally copied and republished in violation of US and international trademark & copyright legislation. The correct version of this story can be read at https://www.americanbankingnews.com/2018/02/05/pinnacle-financial-partners-pnfp-rating-increased-to-overweight-at-stephens.html.

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)

Receive News & Ratings for Pinnacle Financial Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle Financial Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply