Pinnacle Financial Partners (NASDAQ:PNFP) Price Target Raised to $116.00

Pinnacle Financial Partners (NASDAQ:PNFP) had its target price boosted by Evercore from $115.00 to $116.00 in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

A number of other research analysts have also recently commented on the stock. Stephens reduced their target price on shares of Pinnacle Financial Partners from $104.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Friday, October 17th. DA Davidson began coverage on Pinnacle Financial Partners in a report on Monday, January 5th. They issued a “neutral” rating and a $110.00 price target for the company. UBS Group set a $106.00 target price on Pinnacle Financial Partners in a research report on Wednesday. Truist Financial set a $100.00 price objective on shares of Pinnacle Financial Partners in a research note on Friday, January 9th. Finally, Keefe, Bruyette & Woods lifted their price target on Pinnacle Financial Partners from $95.00 to $100.00 and gave the stock a “market perform” rating in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $113.41.

Pinnacle Financial Partners Stock Performance

Shares of PNFP stock opened at $102.38 on Thursday. The company’s fifty day simple moving average is $97.90 and its 200-day simple moving average is $93.93. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.33. Pinnacle Financial Partners has a 52 week low of $81.57 and a 52 week high of $126.06. The company has a market cap of $7.94 billion, a PE ratio of 13.01, a P/E/G ratio of 0.48 and a beta of 1.03.

Pinnacle Financial Partners Announces Dividend

The business also recently declared a dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 6th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is 24.72%.

Insider Transactions at Pinnacle Financial Partners

In related news, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the company’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $93.00, for a total transaction of $630,075.00. Following the completion of the transaction, the chairman directly owned 202,505 shares in the company, valued at $18,832,965. This represents a 3.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.46% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pinnacle Financial Partners

Hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC increased its holdings in shares of Pinnacle Financial Partners by 1,697.4% in the 3rd quarter. AQR Capital Management LLC now owns 3,267,666 shares of the financial services provider’s stock worth $306,474,000 after acquiring an additional 3,085,867 shares during the period. Nomura Holdings Inc. bought a new position in Pinnacle Financial Partners in the 3rd quarter worth about $187,822,000. Norges Bank bought a new position in Pinnacle Financial Partners in the 2nd quarter worth about $113,461,000. Wellington Management Group LLP increased its stake in shares of Pinnacle Financial Partners by 51.1% in the third quarter. Wellington Management Group LLP now owns 2,156,749 shares of the financial services provider’s stock valued at $202,281,000 after purchasing an additional 728,975 shares during the period. Finally, Pentwater Capital Management LP bought a new stake in shares of Pinnacle Financial Partners during the third quarter valued at approximately $42,538,000. Institutional investors and hedge funds own 87.40% of the company’s stock.

About Pinnacle Financial Partners

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.