Analysts Set Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Target Price at $125.18

Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) have earned an average recommendation of “Hold” from the eleven research firms that are currently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $125.18.

Several research firms have issued reports on PNFP. Wells Fargo & Company upped their target price on shares of Pinnacle Financial Partners from $120.00 to $125.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. UBS Group started coverage on shares of Pinnacle Financial Partners in a research note on Tuesday, December 17th. They set a “neutral” rating and a $133.00 target price on the stock. Stephens reaffirmed an “overweight” rating and set a $142.00 price target on shares of Pinnacle Financial Partners in a research report on Wednesday, January 22nd. Barclays raised shares of Pinnacle Financial Partners from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $120.00 to $135.00 in a research report on Thursday, December 19th. Finally, Citigroup upped their price target on shares of Pinnacle Financial Partners from $123.00 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, December 31st.

Pinnacle Financial Partners Price Performance

PNFP opened at $105.53 on Tuesday. 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 stock has a market capitalization of $8.16 billion, a P/E ratio of 17.65 and a beta of 1.09. The company’s 50-day simple moving average is $115.71 and its two-hundred day simple moving average is $111.59. Pinnacle Financial Partners has a 52-week low of $73.62 and a 52-week high of $131.91.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.10. The business had revenue of $475.34 million for the quarter, compared to analysts’ expectations of $470.33 million. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.68 EPS. As a group, analysts predict that Pinnacle Financial Partners will post 7.85 EPS for the current year.

Pinnacle Financial Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 7th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.91%. This is a positive change from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, February 7th. Pinnacle Financial Partners’s dividend payout ratio is currently 16.05%.

Insider Buying and Selling

In other Pinnacle Financial Partners news, Director Glenda Baskin Glover sold 3,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $101.55, for a total transaction of $304,650.00. Following the completion of the sale, the director now directly owns 9,943 shares of the company’s stock, valued at $1,009,711.65. This trade represents a 23.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David B. Ingram sold 10,309 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were 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 of the company’s stock, valued at approximately $10,364,256. This trade represents a 11.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,350 shares of company stock valued at $11,421,320. 1.46% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pinnacle Financial Partners

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Pinnacle Financial Partners by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 7,200,386 shares of the financial services provider’s stock valued at $823,652,000 after acquiring an additional 87,058 shares during the last quarter. FMR LLC boosted its position in shares of Pinnacle Financial Partners by 10.6% during the 4th quarter. FMR LLC now owns 3,003,310 shares of the financial services provider’s stock valued at $343,549,000 after acquiring an additional 286,894 shares during the last quarter. North Reef Capital Management LP boosted its position in shares of Pinnacle Financial Partners by 57.1% during the 4th quarter. North Reef Capital Management LP now owns 1,940,000 shares of the financial services provider’s stock valued at $221,917,000 after acquiring an additional 705,000 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Pinnacle Financial Partners by 57.0% during the 4th quarter. Capital Research Global Investors now owns 1,559,798 shares of the financial services provider’s stock valued at $178,425,000 after acquiring an additional 566,061 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Pinnacle Financial Partners by 16.5% during the 4th quarter. Wellington Management Group LLP now owns 1,504,254 shares of the financial services provider’s stock valued at $172,072,000 after acquiring an additional 213,505 shares during the last quarter. 87.40% of the stock is owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Company Profile

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.