Pinnacle Financial Partners (PNFP) Getting Somewhat Favorable Media Coverage, Analysis Finds
Media stories about Pinnacle Financial Partners (NASDAQ:PNFP) have been trending somewhat positive recently, according to Accern Sentiment. The research group identifies positive and negative news coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Pinnacle Financial Partners earned a news impact score of 0.09 on Accern’s scale. Accern also gave press coverage about the financial services provider an impact score of 0 out of 100, meaning that recent news coverage is extremely unlikely to have an impact on the company’s share price in the near future.
A number of equities analysts have issued reports on PNFP shares. Stephens reiterated a “hold” rating on shares of Pinnacle Financial Partners in a report on Wednesday, April 19th. BidaskClub raised Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Hilliard Lyons reissued a “neutral” rating and issued a $69.00 target price (down previously from $71.00) on shares of Pinnacle Financial Partners in a research report on Saturday, April 22nd. Finally, Zacks Investment Research raised Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a report on Tuesday, March 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Pinnacle Financial Partners presently has a consensus rating of “Hold” and an average target price of $63.75.
Shares of Pinnacle Financial Partners (NASDAQ PNFP) traded down 0.94% during midday trading on Friday, hitting $63.15. The stock had a trading volume of 415,295 shares. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 20.70 and a beta of 1.28. The firm’s 50-day moving average price is $63.02 and its 200-day moving average price is $65.79. Pinnacle Financial Partners has a 1-year low of $49.40 and a 1-year high of $71.85.
Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Monday, April 17th. The financial services provider reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.06. Pinnacle Financial Partners had a net margin of 27.22% and a return on equity of 9.78%. The company had revenue of $119.10 million for the quarter, compared to analyst estimates of $121.59 million. During the same period in the prior year, the company posted $0.71 EPS. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. Analysts forecast that Pinnacle Financial Partners will post $3.39 earnings per share for the current year.
In other news, Director Joseph C. Galante acquired 1,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Wednesday, May 31st. The shares were bought at an average cost of $59.73 per share, with a total value of $59,730.00. Following the transaction, the director now directly owns 18,511 shares of the company’s stock, valued at approximately $1,105,662.03. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of the stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $62.08, for a total transaction of $186,240.00. Following the completion of the sale, the insider now directly owns 67,794 shares in the company, valued at $4,208,651.52. The disclosure for this sale can be found here. Insiders purchased a total of 1,425 shares of company stock worth $86,180 over the last three months. 5.41% of the stock is currently owned by corporate insiders.
Pinnacle Financial Partners Company Profile
Pinnacle Financial Partners, Inc is a bank holding company. The Company operates through its subsidiary, Pinnacle Bank. The Company operates as a community bank primarily in the urban markets of Nashville, Knoxville, Memphis and Chattanooga, Tennessee and other counties. It provides the personalized service associated with small community banks, while seeking to offer the products and services, such as investments and treasury management.
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