UBS Group upgraded shares of Pinnacle Financial Partners (NASDAQ:PNFP) from a sell rating to a neutral rating in a research note published on Tuesday, www.benzinga.com reports. The brokerage currently has $50.00 price objective on the financial services provider’s stock.

Other analysts also recently issued reports about the stock. Stephens reaffirmed a buy rating and set a $74.00 price objective on shares of Pinnacle Financial Partners in a report on Wednesday, October 3rd. Wells Fargo & Co set a $72.00 price objective on shares of Pinnacle Financial Partners and gave the stock a buy rating in a report on Tuesday, October 2nd. ValuEngine downgraded shares of Pinnacle Financial Partners from a sell rating to a strong sell rating in a report on Wednesday, October 17th. BidaskClub downgraded shares of Pinnacle Financial Partners from a sell rating to a strong sell rating in a report on Wednesday, October 24th. Finally, Zacks Investment Research cut shares of Pinnacle Financial Partners from a hold rating to a sell rating in a research report on Tuesday, September 25th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. Pinnacle Financial Partners presently has a consensus rating of Buy and an average price target of $65.75.

Shares of NASDAQ PNFP traded up $0.37 during trading hours on Tuesday, hitting $51.69. 137,524 shares of the stock were exchanged, compared to its average volume of 516,273. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.51. The company has a market cap of $3.98 billion, a P/E ratio of 14.48, a P/E/G ratio of 0.72 and a beta of 1.30. Pinnacle Financial Partners has a one year low of $43.23 and a one year high of $69.85.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Tuesday, October 16th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.02. The business had revenue of $240.90 million during the quarter, compared to the consensus estimate of $236.67 million. Pinnacle Financial Partners had a net margin of 26.97% and a return on equity of 9.09%. During the same period in the prior year, the firm earned $0.90 EPS. Equities research analysts forecast that Pinnacle Financial Partners will post 4.7 EPS for the current fiscal year.

In related news, Vice Chairman Ronald L. Samuel sold 1,600 shares of the stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $55.96, for a total transaction of $89,536.00. Following the completion of the sale, the insider now owns 26,375 shares in the company, valued at approximately $1,475,945. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.39% of the company’s stock.

Several institutional investors have recently made changes to their positions in PNFP. Qube Research & Technologies Ltd acquired a new stake in Pinnacle Financial Partners in the 2nd quarter valued at about $133,000. Captrust Financial Advisors boosted its stake in shares of Pinnacle Financial Partners by 2,473.7% in the 3rd quarter. Captrust Financial Advisors now owns 3,423 shares of the financial services provider’s stock valued at $206,000 after purchasing an additional 3,290 shares during the last quarter. Paloma Partners Management Co bought a new position in shares of Pinnacle Financial Partners in the 2nd quarter valued at about $209,000. IFP Advisors Inc boosted its stake in shares of Pinnacle Financial Partners by 72.3% in the 3rd quarter. IFP Advisors Inc now owns 5,159 shares of the financial services provider’s stock valued at $310,000 after purchasing an additional 2,164 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Pinnacle Financial Partners by 17.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 5,758 shares of the financial services provider’s stock valued at $353,000 after purchasing an additional 875 shares during the last quarter. Institutional investors and hedge funds own 79.24% of the company’s stock.

About Pinnacle Financial Partners

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.

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Analyst Recommendations for Pinnacle Financial Partners (NASDAQ:PNFP)

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