BidaskClub cut shares of Pinnacle Financial Partners (NASDAQ:PNFP) from a hold rating to a sell rating in a research report report published on Thursday.

A number of other equities research analysts have also recently weighed in on PNFP. Piper Jaffray Companies set a $76.00 price target on Pinnacle Financial Partners and gave the company a buy rating in a report on Thursday, November 30th. Hilliard Lyons raised Pinnacle Financial Partners from a neutral rating to a buy rating and set a $71.00 price target for the company in a report on Wednesday, August 23rd. Zacks Investment Research raised Pinnacle Financial Partners from a sell rating to a hold rating in a report on Friday, October 20th. Finally, SunTrust Banks reaffirmed a buy rating and set a $73.00 price target on shares of Pinnacle Financial Partners in a report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $73.75.

Shares of Pinnacle Financial Partners (PNFP) traded down $0.35 on Thursday, hitting $66.60. The stock had a trading volume of 267,404 shares, compared to its average volume of 369,880. Pinnacle Financial Partners has a fifty-two week low of $58.40 and a fifty-two week high of $71.85. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.98 and a current ratio of 0.99. The firm has a market cap of $5,176.35, a PE ratio of 19.59, a PEG ratio of 1.56 and a beta of 1.31.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.01. Pinnacle Financial Partners had a return on equity of 7.36% and a net margin of 27.41%. The firm had revenue of $216.20 million during the quarter, compared to analysts’ expectations of $217.13 million. During the same period last year, the firm posted $0.78 EPS. The business’s revenue was up 102.8% on a year-over-year basis. analysts anticipate that Pinnacle Financial Partners will post 3.56 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 24th. Investors of record on Friday, November 3rd were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $0.56 dividend on an annualized basis and a yield of 0.84%. Pinnacle Financial Partners’s dividend payout ratio is 17.34%.

In other news, Vice Chairman Ronald L. Samuel sold 3,000 shares of Pinnacle Financial Partners stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $64.41, for a total value of $193,230.00. Following the completion of the sale, the insider now directly owns 58,794 shares of the company’s stock, valued at approximately $3,786,921.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas R. Sloan sold 10,000 shares of Pinnacle Financial Partners stock in a transaction on Friday, October 20th. The shares were sold at an average price of $67.25, for a total value of $672,500.00. Following the completion of the sale, the director now directly owns 128,257 shares of the company’s stock, valued at $8,625,283.25. The disclosure for this sale can be found here. Insiders have sold a total of 66,711 shares of company stock valued at $4,483,257 over the last ninety days. Insiders own 5.41% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. increased its stake in shares of Pinnacle Financial Partners by 14.5% in the 2nd quarter. Advisor Group Inc. now owns 2,294 shares of the financial services provider’s stock valued at $144,000 after buying an additional 291 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Pinnacle Financial Partners by 61.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,464 shares of the financial services provider’s stock valued at $155,000 after buying an additional 935 shares during the period. Riverhead Capital Management LLC increased its stake in shares of Pinnacle Financial Partners by 149.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,496 shares of the financial services provider’s stock valued at $220,000 after buying an additional 2,096 shares during the period. South State Corp acquired a new stake in shares of Pinnacle Financial Partners in the 2nd quarter valued at $223,000. Finally, Green Square Capital LLC acquired a new stake in shares of Pinnacle Financial Partners in the 2nd quarter valued at $227,000. 71.79% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Pinnacle Financial Partners (NASDAQ:PNFP)

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