FIG Partners upgraded shares of Pinnacle Financial Partners (NASDAQ:PNFP) from a market perform rating to an outperform rating in a research report report published on Wednesday, Marketbeat.com reports.

Other equities analysts also recently issued research reports about the company. BidaskClub downgraded Pinnacle Financial Partners from a sell rating to a strong sell rating in a research note on Friday, January 26th. Sandler O’Neill set a $76.00 price target on Pinnacle Financial Partners and gave the company a buy rating in a research note on Thursday, January 18th. Zacks Investment Research downgraded Pinnacle Financial Partners from a buy rating to a hold rating in a research note on Thursday, March 29th. Stephens upgraded Pinnacle Financial Partners from an equal weight rating to an overweight rating in a research note on Monday, February 5th. Finally, Raymond James upgraded Pinnacle Financial Partners from a market perform rating to an outperform rating in a research note on Tuesday, April 10th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $72.22.

Shares of PNFP opened at $63.80 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 0.99. The stock has a market capitalization of $4,969.19, a PE ratio of 16.61, a PEG ratio of 0.84 and a beta of 1.04. Pinnacle Financial Partners has a one year low of $58.40 and a one year high of $70.30.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its earnings results on Monday, April 16th. The financial services provider reported $1.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.03. The company had revenue of $218.60 million during the quarter, compared to the consensus estimate of $220.48 million. Pinnacle Financial Partners had a return on equity of 7.52% and a net margin of 24.09%. The firm’s revenue for the quarter was up 83.5% compared to the same quarter last year. During the same period last year, the business posted $0.83 EPS. sell-side analysts forecast that Pinnacle Financial Partners will post 4.72 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 25th. Shareholders of record on Friday, May 4th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, May 3rd. This represents a $0.56 annualized dividend and a dividend yield of 0.88%. Pinnacle Financial Partners’s dividend payout ratio is currently 15.69%.

In other Pinnacle Financial Partners news, Vice Chairman Ronald L. Samuel sold 3,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $63.47, for a total transaction of $190,410.00. Following the transaction, the insider now owns 46,794 shares of the company’s stock, valued at approximately $2,970,015.18. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Harold R. Carpenter sold 11,835 shares of Pinnacle Financial Partners stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $68.44, for a total transaction of $809,987.40. Following the transaction, the chief financial officer now directly owns 99,021 shares in the company, valued at approximately $6,776,997.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,711 shares of company stock worth $6,908,315. Insiders own 3.39% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC lifted its position in shares of Pinnacle Financial Partners by 95.7% during the 4th quarter. SG Americas Securities LLC now owns 14,871 shares of the financial services provider’s stock worth $986,000 after buying an additional 7,272 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Pinnacle Financial Partners by 1.0% in the 4th quarter. BlackRock Inc. now owns 6,050,010 shares of the financial services provider’s stock worth $401,116,000 after purchasing an additional 59,719 shares during the period. Teacher Retirement System of Texas raised its holdings in shares of Pinnacle Financial Partners by 319.8% in the 4th quarter. Teacher Retirement System of Texas now owns 25,303 shares of the financial services provider’s stock worth $1,678,000 after purchasing an additional 19,276 shares during the period. MUFG Americas Holdings Corp bought a new stake in shares of Pinnacle Financial Partners in the 4th quarter worth approximately $485,000. Finally, Alliancebernstein L.P. raised its holdings in shares of Pinnacle Financial Partners by 232.0% in the 4th quarter. Alliancebernstein L.P. now owns 540,977 shares of the financial services provider’s stock worth $35,867,000 after purchasing an additional 378,050 shares during the period. 72.17% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: This piece of content was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece of content on another site, it was stolen and reposted in violation of US & international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://www.thecerbatgem.com/2018/04/22/pinnacle-financial-partners-pnfp-stock-rating-upgraded-by-fig-partners.html.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc operates as a bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The company accepts various deposits, including savings, checking, interest-bearing checking, money market, and certificate of deposit accounts.

Analyst Recommendations for Pinnacle Financial Partners (NASDAQ:PNFP)

Receive News & Ratings for Pinnacle Financial Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle Financial Partners and related companies with MarketBeat.com's FREE daily email newsletter.