Pinnacle Financial Partners (NYSE:PNFP) Stock Rating Upgraded by Wall Street Zen

Pinnacle Financial Partners (NYSE:PNFP) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

PNFP has been the topic of several other reports. Weiss Ratings assumed coverage on shares of Pinnacle Financial Partners in a report on Monday, March 9th. They set a “hold (c+)” rating on the stock. TD Cowen lowered their price target on shares of Pinnacle Financial Partners from $125.00 to $121.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Truist Financial upped their price target on shares of Pinnacle Financial Partners from $114.00 to $115.00 and gave the company a “buy” rating in a research note on Monday. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Pinnacle Financial Partners in a report on Thursday, January 22nd. Finally, Stephens lifted their price objective on shares of Pinnacle Financial Partners from $95.00 to $109.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.19.

Pinnacle Financial Partners Price Performance

Shares of PNFP opened at $96.57 on Tuesday. Pinnacle Financial Partners has a 1 year low of $81.08 and a 1 year high of $120.46. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.90 and a current ratio of 0.90. The company has a fifty day moving average price of $90.76. The company has a market capitalization of $7.49 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 0.37 and a beta of 1.06.

Pinnacle Financial Partners (NYSE:PNFP) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.09. Pinnacle Financial Partners had a return on equity of 10.61% and a net margin of 15.02%.The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.20 billion. Sell-side analysts anticipate that Pinnacle Financial Partners will post 10.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Andrew J. Jr. Gregory acquired 1,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Thursday, February 12th. The stock was bought at an average price of $94.52 per share, with a total value of $94,520.00. Following the completion of the purchase, the chief financial officer owned 49,485 shares in the company, valued at approximately $4,677,322.20. The trade was a 2.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PNFP. Goldman Sachs Group Inc. increased its holdings in shares of Pinnacle Financial Partners by 6.2% in the first quarter. Goldman Sachs Group Inc. now owns 651,268 shares of the company’s stock worth $69,060,000 after purchasing an additional 37,989 shares during the period. Focus Partners Wealth grew its position in Pinnacle Financial Partners by 13.9% during the first quarter. Focus Partners Wealth now owns 4,755 shares of the company’s stock worth $504,000 after buying an additional 581 shares in the last quarter. Amundi increased its stake in Pinnacle Financial Partners by 25,700.0% in the 2nd quarter. Amundi now owns 4,386 shares of the company’s stock worth $513,000 after acquiring an additional 4,369 shares during the last quarter. Jump Financial LLC bought a new position in Pinnacle Financial Partners in the 2nd quarter worth about $229,000. Finally, Cerity Partners LLC raised its holdings in shares of Pinnacle Financial Partners by 4.2% in the 2nd quarter. Cerity Partners LLC now owns 26,061 shares of the company’s stock valued at $2,877,000 after acquiring an additional 1,039 shares in the last quarter. 87.40% of the stock is 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.