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

Pinnacle Financial Partners, Inc. (NYSE:PNFP) has been assigned an average recommendation of “Moderate Buy” from the twenty analysts that are currently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $114.8824.

Several equities analysts have recently commented on the stock. Barclays decreased their price objective on shares of Pinnacle Financial Partners from $135.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. Truist Financial upped their price objective 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. Robert W. Baird began coverage on shares of Pinnacle Financial Partners in a report on Tuesday, May 19th. They set an “outperform” rating and a $115.00 target price on the stock. Stephens increased their target price on shares of Pinnacle Financial Partners from $95.00 to $109.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Finally, Wall Street Zen upgraded shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a report on Tuesday, May 12th.

Institutional Investors Weigh In On Pinnacle Financial Partners

A number of hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. lifted its holdings in Pinnacle Financial Partners by 1.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 7,377 shares of the company’s stock worth $704,000 after buying an additional 116 shares in the last quarter. Villanova Investment Management Co LLC lifted its holdings in Pinnacle Financial Partners by 0.4% during the 4th quarter. Villanova Investment Management Co LLC now owns 28,511 shares of the company’s stock worth $2,720,000 after buying an additional 118 shares in the last quarter. Profund Advisors LLC raised its holdings in shares of Pinnacle Financial Partners by 4.6% in the 3rd quarter. Profund Advisors LLC now owns 2,895 shares of the company’s stock valued at $272,000 after purchasing an additional 127 shares in the last quarter. Simplicity Wealth LLC raised its holdings in shares of Pinnacle Financial Partners by 1.5% in the 1st quarter. Simplicity Wealth LLC now owns 9,155 shares of the company’s stock valued at $789,000 after purchasing an additional 131 shares in the last quarter. Finally, Diversified Trust Co. raised its holdings in shares of Pinnacle Financial Partners by 0.3% in the 4th quarter. Diversified Trust Co. now owns 54,349 shares of the company’s stock valued at $5,185,000 after purchasing an additional 137 shares in the last quarter. 87.40% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle Financial Partners Stock Performance

Shares of PNFP stock opened at $93.21 on Thursday. The business has a 50 day moving average of $95.17. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.90 and a current ratio of 0.90. Pinnacle Financial Partners has a one year low of $81.08 and a one year high of $120.46. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of 12.93, a P/E/G ratio of 0.36 and a beta of 1.04.

Pinnacle Financial Partners (NYSE:PNFP) last issued its quarterly earnings data 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 net margin of 15.02% and a return on equity of 10.61%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. As a group, research analysts predict that Pinnacle Financial Partners will post 10.3 EPS for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 1st were issued a dividend of $0.50 per share. The ex-dividend date was Friday, May 1st. This represents a $2.00 dividend on an annualized basis and a yield of 2.1%. Pinnacle Financial Partners’s dividend payout ratio is 27.74%.

About Pinnacle Financial Partners

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.