ABN Amro Investment Solutions Buys Shares of 5,513 Pinnacle Financial Partners, Inc. $PNFP

ABN Amro Investment Solutions bought a new position in Pinnacle Financial Partners, Inc. (NYSE:PNFP) during the 1st quarter, HoldingsChannel reports. The firm bought 5,513 shares of the company’s stock, valued at approximately $475,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its holdings in Pinnacle Financial Partners by 105.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,495 shares of the company’s stock worth $904,000 after buying an additional 5,398 shares during the period. Oslo Pensjonsforsikring AS bought a new stake in shares of Pinnacle Financial Partners during the first quarter worth $339,000. Andra AP fonden acquired a new stake in shares of Pinnacle Financial Partners during the first quarter worth $7,382,000. Harbor Advisors LLC acquired a new stake in shares of Pinnacle Financial Partners during the first quarter worth $1,034,000. Finally, Meeder Advisory Services Inc. bought a new stake in Pinnacle Financial Partners in the 1st quarter valued at $261,000. Institutional investors and hedge funds own 87.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PNFP shares. Weiss Ratings raised shares of Pinnacle Financial Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 26th. Citigroup boosted 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. Piper Sandler upped their price objective on Pinnacle Financial Partners from $122.00 to $123.00 and gave the stock an “overweight” rating in a research report on Friday. Wall Street Zen upgraded Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a report on Tuesday, May 12th. Finally, Stephens lifted their target price on Pinnacle Financial Partners from $95.00 to $109.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Pinnacle Financial Partners currently has an average rating of “Moderate Buy” and a consensus target price of $116.65.

Pinnacle Financial Partners Trading Down 0.1%

Shares of PNFP stock opened at $102.53 on Monday. The company has a fifty day simple moving average of $97.90. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. Pinnacle Financial Partners, Inc. has a 1 year low of $81.08 and a 1 year high of $107.00. The firm has a market cap of $7.95 billion, a price-to-earnings ratio of 14.08, a P/E/G ratio of 0.41 and a beta of 1.04.

Pinnacle Financial Partners (NYSE:PNFP) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.04. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. Pinnacle Financial Partners had a net margin of 15.40% and a return on equity of 10.93%. As a group, equities research analysts forecast that Pinnacle Financial Partners, Inc. will post 10.18 EPS for the current fiscal year.

Pinnacle Financial Partners 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.