Brokerages Set Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Target Price at $124.70

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) has been given a consensus rating of “Moderate Buy” by the ten analysts that are presently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $124.70.

Several equities analysts have weighed in on the company. UBS Group initiated coverage on Pinnacle Financial Partners in a report on Tuesday, December 17th. They issued a “neutral” rating and a $133.00 price objective for the company. Stephens reaffirmed an “overweight” rating and issued a $142.00 price target on shares of Pinnacle Financial Partners in a research note on Wednesday, January 22nd. Wells Fargo & Company cut their price objective on shares of Pinnacle Financial Partners from $125.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. Barclays decreased their target price on shares of Pinnacle Financial Partners from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Finally, Hovde Group dropped their target price on shares of Pinnacle Financial Partners from $135.00 to $120.00 and set a “market perform” rating for the company in a research report on Wednesday, April 2nd.

Insider Buying and Selling at Pinnacle Financial Partners

In other news, Director David B. Ingram sold 10,309 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $126.00, for a total transaction of $1,298,934.00. Following the sale, the director now directly owns 82,256 shares in the company, valued at approximately $10,364,256. The trade was a 11.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Glenda Baskin Glover sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $101.55, for a total value of $304,650.00. Following the completion of the transaction, the director now directly owns 9,943 shares of the company’s stock, valued at $1,009,711.65. This represents a 23.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,350 shares of company stock worth $11,421,320 over the last quarter. Corporate insiders own 1.46% of the company’s stock.

Hedge Funds Weigh In On Pinnacle Financial Partners

A number of hedge funds have recently modified their holdings of the business. Kapitalo Investimentos Ltda bought a new position in Pinnacle Financial Partners during the 4th quarter worth $78,000. UMB Bank n.a. increased its stake in shares of Pinnacle Financial Partners by 48.1% in the fourth quarter. UMB Bank n.a. now owns 736 shares of the financial services provider’s stock valued at $84,000 after buying an additional 239 shares during the period. Principal Securities Inc. lifted its stake in shares of Pinnacle Financial Partners by 12.7% in the fourth quarter. Principal Securities Inc. now owns 808 shares of the financial services provider’s stock worth $92,000 after acquiring an additional 91 shares during the period. Trust Co. of Vermont bought a new stake in Pinnacle Financial Partners in the fourth quarter valued at approximately $97,000. Finally, Values First Advisors Inc. increased its position in Pinnacle Financial Partners by 189.9% during the 4th quarter. Values First Advisors Inc. now owns 1,458 shares of the financial services provider’s stock valued at $167,000 after purchasing an additional 955 shares during the period. Institutional investors and hedge funds own 87.40% of the company’s stock.

Pinnacle Financial Partners Price Performance

NASDAQ:PNFP opened at $92.20 on Friday. Pinnacle Financial Partners has a 52 week low of $73.62 and a 52 week high of $131.91. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.90 and a current ratio of 0.90. The firm’s 50-day simple moving average is $107.03 and its 200 day simple moving average is $112.01. The firm has a market cap of $7.13 billion, a price-to-earnings ratio of 15.42 and a beta of 0.94.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its earnings results on Monday, April 14th. The financial services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.82 by $0.08. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. During the same quarter in the previous year, the firm earned $1.53 EPS. As a group, sell-side analysts predict that Pinnacle Financial Partners will post 7.85 earnings per share for the current year.

Pinnacle Financial Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 7th were paid a $0.24 dividend. This is an increase from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, February 7th. This represents a $0.96 annualized dividend and a yield of 1.04%. Pinnacle Financial Partners’s dividend payout ratio is presently 16.05%.

About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.