TD Cowen Increases Pinnacle Financial Partners (NASDAQ:PNFP) Price Target to $125.00

Pinnacle Financial Partners (NASDAQ:PNFP) had its price objective upped by stock analysts at TD Cowen from $122.00 to $125.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. TD Cowen’s price objective would suggest a potential upside of 26.53% from the company’s current price.

Several other equities analysts have also weighed in on PNFP. Bank of America started coverage on shares of Pinnacle Financial Partners in a report on Monday, December 8th. They set a “buy” rating and a $113.00 price objective on the stock. JPMorgan Chase & Co. upped their price target on Pinnacle Financial Partners from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Truist Financial cut their price target on Pinnacle Financial Partners from $107.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, October 17th. Wells Fargo & Company decreased their price objective on Pinnacle Financial Partners from $110.00 to $100.00 and set an “equal weight” rating for the company in a report on Friday, October 17th. Finally, Evercore ISI started coverage on Pinnacle Financial Partners in a report on Tuesday. They issued an “outperform” rating and a $115.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Pinnacle Financial Partners has a consensus rating of “Moderate Buy” and a consensus price target of $113.00.

Pinnacle Financial Partners Price Performance

Shares of PNFP opened at $98.79 on Wednesday. The firm has a market cap of $7.66 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 0.48 and a beta of 1.02. Pinnacle Financial Partners has a 52-week low of $81.57 and a 52-week high of $127.85. The business’s 50 day moving average price is $93.92 and its two-hundred day moving average price is $96.59. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.89 and a current ratio of 0.89.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.22. The company had revenue of $544.80 million during the quarter, compared to analyst estimates of $526.40 million. Pinnacle Financial Partners had a net margin of 19.17% and a return on equity of 9.91%. During the same quarter in the previous year, the business posted $1.86 EPS. On average, equities analysts anticipate that Pinnacle Financial Partners will post 7.85 EPS for the current year.

Insider Buying and Selling at Pinnacle Financial Partners

In other news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $93.00, for a total value of $630,075.00. Following the completion of the sale, the chairman owned 202,505 shares in the company, valued at $18,832,965. This represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director G Kennedy Thompson purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The shares were purchased at an average cost of $87.63 per share, for a total transaction of $438,150.00. Following the completion of the transaction, the director directly owned 33,372 shares of the company’s stock, valued at $2,924,388.36. This represents a 17.62% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 1.46% of the company’s stock.

Hedge Funds Weigh In On Pinnacle Financial Partners

Several institutional investors have recently modified their holdings of PNFP. AQR Capital Management LLC boosted its position in Pinnacle Financial Partners by 1,697.4% in the third quarter. AQR Capital Management LLC now owns 3,267,666 shares of the financial services provider’s stock worth $306,474,000 after purchasing an additional 3,085,867 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Pinnacle Financial Partners by 6.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,680,171 shares of the financial services provider’s stock worth $251,376,000 after purchasing an additional 163,269 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Pinnacle Financial Partners by 51.1% in the 3rd quarter. Wellington Management Group LLP now owns 2,156,749 shares of the financial services provider’s stock worth $202,281,000 after buying an additional 728,975 shares during the last quarter. Nomura Holdings Inc. purchased a new position in shares of Pinnacle Financial Partners in the 3rd quarter worth about $187,822,000. Finally, Fenimore Asset Management Inc grew its position in Pinnacle Financial Partners by 2.2% during the second quarter. Fenimore Asset Management Inc now owns 1,076,968 shares of the financial services provider’s stock valued at $118,908,000 after buying an additional 23,552 shares during the period. 87.40% of the stock is owned by institutional investors.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc (NASDAQ: PNFP) is a financial services company headquartered in Nashville, Tennessee, that provides banking, wealth management and insurance solutions to business and consumer clients. The company operates through two primary segments—Banking and Wealth Management & Advisory—offering a comprehensive suite of products that includes commercial and consumer lending, deposit services, treasury management, trust and investment advisory, and insurance brokerage. Pinnacle’s client-focused model emphasizes relationship-based banking, leveraging local decision-making authority and specialized industry expertise to serve diverse sectors such as healthcare, technology, real estate and professional services.

In its banking segment, Pinnacle delivers commercial and consumer loans, lines of credit, equipment financing, and mortgage lending.