Pinnacle Financial Partners (PNFP) – Analysts’ Weekly Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of Pinnacle Financial Partners (NASDAQ: PNFP) in the last few weeks:

  • 11/28/2018 – Pinnacle Financial Partners was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 11/26/2018 – Pinnacle Financial Partners was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating.
  • 11/17/2018 – Pinnacle Financial Partners was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 11/15/2018 – Pinnacle Financial Partners was downgraded by analysts at TheStreet from a “b-” rating to a “c” rating.
  • 10/24/2018 – Pinnacle Financial Partners was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 10/18/2018 – Pinnacle Financial Partners had its price target lowered by analysts at Raymond James from $72.00 to $70.00. They now have an “outperform” rating on the stock.
  • 10/18/2018 – Pinnacle Financial Partners had its price target lowered by analysts at SunTrust Banks, Inc. to $65.00. They now have a “buy” rating on the stock.
  • 10/17/2018 – Pinnacle Financial Partners was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating.
  • 10/6/2018 – Pinnacle Financial Partners was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Pinnacle Financial Partners, Inc. Provides a full range of banking, investment, trust, mortgage and insurance products and services designed for businesses and their owners and individuals interested in a comprehensive relationship with their financial institution. “
  • 10/3/2018 – Pinnacle Financial Partners had its “buy” rating reaffirmed by analysts at Stephens. They now have a $74.00 price target on the stock.
  • 10/2/2018 – Pinnacle Financial Partners was given a new $72.00 price target on by analysts at Wells Fargo & Co. They now have a “buy” rating on the stock.

Shares of NASDAQ:PNFP opened at $56.12 on Friday. The firm has a market cap of $4.37 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 0.85 and a beta of 1.12. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.51. Pinnacle Financial Partners has a 52 week low of $49.92 and a 52 week high of $69.95.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings results on Tuesday, October 16th. The financial services provider reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.02. The company had revenue of $240.90 million for the quarter, compared to analyst estimates of $236.67 million. Pinnacle Financial Partners had a net margin of 26.97% and a return on equity of 9.09%. During the same quarter in the previous year, the business earned $0.90 earnings per share. Equities analysts anticipate that Pinnacle Financial Partners will post 4.72 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 2nd will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Thursday, November 1st. This is a positive change from Pinnacle Financial Partners’s previous quarterly dividend of $0.14. Pinnacle Financial Partners’s payout ratio is 17.93%.

In other news, Vice Chairman Ronald L. Samuel sold 1,600 shares of Pinnacle Financial Partners stock in a transaction on Tuesday, September 25th. The shares were sold at an average price of $63.49, for a total transaction of $101,584.00. Following the transaction, the insider now owns 27,975 shares in the company, valued at $1,776,132.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.39% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in PNFP. Vanguard Group Inc. increased its stake in Pinnacle Financial Partners by 2.2% in the third quarter. Vanguard Group Inc. now owns 6,520,182 shares of the financial services provider’s stock valued at $392,188,000 after purchasing an additional 142,700 shares in the last quarter. Legal & General Group Plc increased its position in shares of Pinnacle Financial Partners by 1.5% during the third quarter. Legal & General Group Plc now owns 80,011 shares of the financial services provider’s stock worth $4,812,000 after acquiring an additional 1,197 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Pinnacle Financial Partners by 2,473.7% during the third quarter. Captrust Financial Advisors now owns 3,423 shares of the financial services provider’s stock worth $206,000 after acquiring an additional 3,290 shares in the last quarter. Maltese Capital Management LLC increased its position in shares of Pinnacle Financial Partners by 27.8% during the third quarter. Maltese Capital Management LLC now owns 230,116 shares of the financial services provider’s stock worth $13,841,000 after acquiring an additional 50,084 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in shares of Pinnacle Financial Partners by 5.8% during the third quarter. Thrivent Financial for Lutherans now owns 17,831 shares of the financial services provider’s stock worth $1,073,000 after acquiring an additional 976 shares in the last quarter. 79.19% of the stock is owned by institutional investors and hedge funds.

Pinnacle Financial Partners, Inc operates as a 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, interest-bearing checking, money market, and certificate of deposit accounts.

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