Pinnacle Financial Partners (NASDAQ:PNFP) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Several other research analysts have also recently issued reports on PNFP. ValuEngine cut shares of Pinnacle Financial Partners from a “hold” rating to a “sell” rating in a report on Friday, June 29th. Hovde Group reaffirmed an “outperform” rating on shares of Pinnacle Financial Partners in a report on Thursday, July 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $72.75.

Shares of NASDAQ PNFP opened at $64.40 on Wednesday. Pinnacle Financial Partners has a 1 year low of $58.40 and a 1 year high of $69.95. The stock has a market cap of $5.01 billion, a P/E ratio of 18.04, a price-to-earnings-growth ratio of 0.98 and a beta of 1.02. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.98.

Pinnacle Financial Partners (NASDAQ:PNFP) last issued its earnings results on Tuesday, July 17th. The financial services provider reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.01. The business had revenue of $230.20 million during the quarter, compared to analysts’ expectations of $229.16 million. Pinnacle Financial Partners had a net margin of 25.54% and a return on equity of 8.59%. The business’s revenue for the quarter was up 62.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.84 earnings per share. research analysts forecast that Pinnacle Financial Partners will post 4.71 earnings per share for the current fiscal year.

In other Pinnacle Financial Partners news, Vice Chairman Ronald L. Samuel sold 1,600 shares of Pinnacle Financial Partners stock in a transaction dated Tuesday, July 24th. The shares were sold at an average price of $62.90, for a total value of $100,640.00. Following the completion of the transaction, the insider now directly owns 31,175 shares of the company’s stock, valued at $1,960,907.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 4,800 shares of company stock valued at $304,704 over the last ninety days. Corporate insiders own 3.39% of the company’s stock.

Several hedge funds have recently made changes to their positions in PNFP. Renaissance Technologies LLC bought a new stake in shares of Pinnacle Financial Partners in the fourth quarter worth approximately $1,094,000. HL Financial Services LLC grew its stake in shares of Pinnacle Financial Partners by 22.1% in the first quarter. HL Financial Services LLC now owns 10,110 shares of the financial services provider’s stock worth $649,000 after acquiring an additional 1,830 shares during the period. Hennessy Advisors Inc. bought a new stake in shares of Pinnacle Financial Partners in the first quarter worth approximately $966,000. NJ State Employees Deferred Compensation Plan grew its stake in shares of Pinnacle Financial Partners by 20.0% in the first quarter. NJ State Employees Deferred Compensation Plan now owns 12,000 shares of the financial services provider’s stock worth $770,000 after acquiring an additional 2,000 shares during the period. Finally, Wells Fargo & Company MN grew its stake in shares of Pinnacle Financial Partners by 27.9% in the first quarter. Wells Fargo & Company MN now owns 1,023,711 shares of the financial services provider’s stock worth $65,722,000 after acquiring an additional 223,529 shares during the period. Hedge funds and other institutional investors own 77.89% of the company’s stock.

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.

Featured Article: How to Track your Portfolio in Google Finance

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.