Pinnacle Financial Partners, Inc. (NYSE:PNFP) Given Average Recommendation of “Moderate Buy” by Analysts

Pinnacle Financial Partners, Inc. (NYSE:PNFP) has been assigned an average recommendation of “Moderate Buy” from the nineteen research firms that are covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $113.4118.

A number of analysts have recently issued reports on PNFP shares. DA Davidson initiated coverage on shares of Pinnacle Financial Partners in a research note on Monday, January 5th. They issued a “neutral” rating and a $110.00 price objective for the company. Weiss Ratings began coverage on shares of Pinnacle Financial Partners in a research note on Monday, March 9th. They set a “hold (c+)” rating on the stock. Wall Street Zen downgraded shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a report on Thursday. Truist Financial set a $100.00 price target on Pinnacle Financial Partners in a research note on Friday, January 9th. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Pinnacle Financial Partners in a report on Thursday, January 22nd.

Pinnacle Financial Partners Stock Down 2.1%

Shares of NYSE:PNFP opened at $82.94 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. Pinnacle Financial Partners has a 1-year low of $81.08 and a 1-year high of $120.46. The company has a market cap of $6.43 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 0.38 and a beta of 1.02.

Pinnacle Financial Partners Dividend Announcement

The firm also recently announced a dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 6th were given a dividend of $0.50 per share. The ex-dividend date was Friday, February 6th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is currently 24.72%.

Insider Transactions at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, CFO Andrew J. Jr. Gregory purchased 1,000 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were bought at an average cost of $94.52 per share, with a total value of $94,520.00. Following the acquisition, the chief financial officer owned 49,485 shares in the company, valued at approximately $4,677,322.20. This trade represents a 2.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.46% of the company’s stock.

Institutional Investors Weigh In On Pinnacle Financial Partners

Several institutional investors and hedge funds have recently modified their holdings of the stock. Rockefeller Capital Management L.P. raised its position in shares of Pinnacle Financial Partners by 53.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,099 shares of the company’s stock valued at $105,000 after buying an additional 385 shares during the last quarter. Corient Private Wealth LLC boosted its position in shares of Pinnacle Financial Partners by 148.6% during the fourth quarter. Corient Private Wealth LLC now owns 16,740 shares of the company’s stock worth $1,603,000 after acquiring an additional 10,007 shares during the last quarter. Wick Capital Partners LLC purchased a new position in Pinnacle Financial Partners during the fourth quarter valued at $203,000. Instrumental Wealth LLC purchased a new position in Pinnacle Financial Partners during the fourth quarter valued at $417,000. Finally, Villanova Investment Management Co LLC increased its holdings in Pinnacle Financial Partners by 0.4% in the 4th quarter. Villanova Investment Management Co LLC now owns 28,511 shares of the company’s stock valued at $2,720,000 after acquiring an additional 118 shares during the last quarter. Institutional investors own 87.40% of the company’s stock.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners (NYSE: PNFP) is a bank holding company headquartered in Nashville, Tennessee, that provides a broad range of commercial and consumer banking services. Founded in 2000, the company operates through a network of banking offices and digital channels to serve individuals, small and middle-market businesses, and institutional clients. Pinnacle’s business model emphasizes relationship-based banking and tailored financial solutions for commercial borrowers and deposit customers.

The company’s product and service offerings include commercial and residential lending, treasury and payment solutions, deposit accounts, mortgage services, and cash management.