Pinnacle Financial Partners, Inc. (NYSE:PNFP) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) have received an average recommendation of “Moderate Buy” from the twenty-one research firms that are presently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $116.6111.

Several brokerages have issued reports on PNFP. Citigroup raised their price target on Pinnacle Financial Partners from $122.00 to $126.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Robert W. Baird started coverage on shares of Pinnacle Financial Partners in a report on Tuesday, May 19th. They issued an “outperform” rating and a $115.00 price objective on the stock. Evercore reissued an “outperform” rating and issued a $115.00 price objective on shares of Pinnacle Financial Partners in a research report on Wednesday, April 29th. Barclays cut their target price on shares of Pinnacle Financial Partners from $135.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. Finally, Truist Financial lifted their target price on shares of Pinnacle Financial Partners from $114.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, May 11th.

Hedge Funds Weigh In On Pinnacle Financial Partners

Institutional investors and hedge funds have recently made changes to their positions in the company. Yousif Capital Management LLC increased its position in Pinnacle Financial Partners by 92.4% during the 4th quarter. Yousif Capital Management LLC now owns 46,456 shares of the company’s stock worth $4,519,000 after buying an additional 22,306 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Pinnacle Financial Partners by 122.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 16,188 shares of the company’s stock valued at $1,544,000 after acquiring an additional 8,927 shares during the period. Hudson Bay Capital Management LP bought a new stake in shares of Pinnacle Financial Partners in the third quarter valued at about $1,128,000. Private Management Group Inc. grew its stake in shares of Pinnacle Financial Partners by 96.4% in the third quarter. Private Management Group Inc. now owns 245,160 shares of the company’s stock valued at $22,994,000 after acquiring an additional 120,311 shares in the last quarter. Finally, M&T Bank Corp grew its stake in shares of Pinnacle Financial Partners by 283.3% in the fourth quarter. M&T Bank Corp now owns 27,583 shares of the company’s stock valued at $2,632,000 after acquiring an additional 20,386 shares in the last quarter. Institutional investors and hedge funds own 87.40% of the company’s stock.

Pinnacle Financial Partners Stock Down 0.1%

Shares of NYSE PNFP opened at $99.40 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.42. The stock’s 50 day simple moving average is $97.13. The firm has a market capitalization of $7.71 billion, a P/E ratio of 13.79, a PEG ratio of 0.38 and a beta of 1.04. Pinnacle Financial Partners has a twelve month low of $81.08 and a twelve month high of $120.46.

Pinnacle Financial Partners (NYSE:PNFP) last issued its earnings results on Wednesday, April 22nd. The company reported $2.39 EPS 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. As a group, research analysts anticipate that Pinnacle Financial Partners will post 10.23 EPS for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 1st were given a dividend of $0.50 per share. The ex-dividend date was Friday, May 1st. This represents a $2.00 annualized dividend and a yield of 2.0%. Pinnacle Financial Partners’s dividend payout ratio (DPR) is 27.74%.

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.