Pinnacle Financial Partners (NYSE:PNFP) Stock Rating Upgraded by UBS Group

Pinnacle Financial Partners (NYSE:PNFP) was upgraded by equities research analysts at UBS Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The brokerage currently has a $110.00 target price on the stock, up from their prior target price of $106.00. UBS Group’s price target would suggest a potential upside of 20.44% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Raymond James Financial reissued a “strong-buy” rating on shares of Pinnacle Financial Partners in a research note on Thursday, January 22nd. DA Davidson began coverage on shares of Pinnacle Financial Partners in a research report on Monday, January 5th. They set a “neutral” rating and a $110.00 target price for the company. Deutsche Bank Aktiengesellschaft set a $116.00 price target on Pinnacle Financial Partners and gave the company a “buy” rating in a research note on Wednesday, January 21st. Citigroup raised their price target on Pinnacle Financial Partners from $118.00 to $122.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, Wall Street Zen raised Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Friday, April 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, Pinnacle Financial Partners presently has an average rating of “Moderate Buy” and a consensus target price of $112.18.

Pinnacle Financial Partners Stock Performance

Pinnacle Financial Partners stock opened at $91.33 on Tuesday. The stock has a market cap of $7.08 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 0.40 and a beta of 1.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.89. Pinnacle Financial Partners has a 1 year low of $81.08 and a 1 year high of $120.46.

Insider Buying and Selling at Pinnacle Financial Partners

In other news, CFO Andrew J. Jr. Gregory purchased 1,000 shares of Pinnacle Financial Partners stock in a transaction dated 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 completion of the transaction, the chief financial officer directly owned 49,485 shares in the company, valued at $4,677,322.20. This trade represents a 2.06% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.46% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PNFP. AQR Capital Management LLC grew its stake in Pinnacle Financial Partners by 1,697.4% in the third quarter. AQR Capital Management LLC now owns 3,267,666 shares of the company’s stock valued at $306,474,000 after acquiring an additional 3,085,867 shares during the period. Nomura Holdings Inc. acquired a new stake in shares of Pinnacle Financial Partners during the third quarter worth about $187,822,000. Alyeska Investment Group L.P. bought a new position in shares of Pinnacle Financial Partners during the 4th quarter valued at about $159,545,000. Norges Bank bought a new position in shares of Pinnacle Financial Partners during the 4th quarter valued at about $116,349,000. Finally, Wellington Management Group LLP grew its position in shares of Pinnacle Financial Partners by 42.2% in the 4th quarter. Wellington Management Group LLP now owns 3,067,116 shares of the company’s stock valued at $292,634,000 after purchasing an additional 910,367 shares during the period. 87.40% of the stock is currently owned by institutional investors.

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.