Pinnacle Financial Partners (NASDAQ:PNFP) has earned a consensus rating of “Hold” from the nine research firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $46.50.

A number of analysts recently commented on PNFP shares. Raymond James upgraded Pinnacle Financial Partners from a “market perform” rating to an “outperform” rating and set a $48.00 price objective for the company in a research report on Wednesday, June 17th. JPMorgan Chase & Co. upped their price objective on Pinnacle Financial Partners from $38.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, June 18th. UBS Group upped their price objective on Pinnacle Financial Partners from $32.50 to $35.00 and gave the company a “neutral” rating in a research report on Friday, May 22nd. Zacks Investment Research upgraded Pinnacle Financial Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 9th. Finally, Wells Fargo & Co reduced their price target on Pinnacle Financial Partners from $66.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday, March 30th.

In other Pinnacle Financial Partners news, Chairman Richard D. Callicutt II acquired 12,000 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was purchased at an average price of $47.50 per share, with a total value of $570,000.00. Following the completion of the purchase, the chairman now directly owns 12,000 shares in the company, valued at approximately $570,000. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles E. Brock sold 9,587 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $39.22, for a total value of $376,002.14. Following the completion of the transaction, the director now directly owns 44,229 shares of the company’s stock, valued at approximately $1,734,661.38. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 61,000 shares of company stock valued at $2,609,100. Company insiders own 2.98% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Red Door Wealth Management LLC bought a new position in shares of Pinnacle Financial Partners in the first quarter worth about $27,000. First Manhattan Co. bought a new position in shares of Pinnacle Financial Partners in the first quarter worth about $37,000. Tower Research Capital LLC TRC boosted its stake in shares of Pinnacle Financial Partners by 176.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,311 shares of the financial services provider’s stock worth $84,000 after acquiring an additional 836 shares during the period. Eudaimonia Partners LLC bought a new position in Pinnacle Financial Partners during the first quarter valued at approximately $56,000. Finally, Sullivan Bruyette Speros & Blaney LLC bought a new position in Pinnacle Financial Partners during the fourth quarter valued at approximately $100,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:PNFP traded up $0.72 during midday trading on Friday, reaching $41.82. 7,725 shares of the company’s stock traded hands, compared to its average volume of 477,878. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 9.55 and a beta of 1.39. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.99 and a current ratio of 0.99. Pinnacle Financial Partners has a one year low of $27.80 and a one year high of $65.00. The stock has a 50 day moving average of $40.65 and a 200 day moving average of $49.19.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its quarterly earnings data on Monday, April 20th. The financial services provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.66). The firm had revenue of $263.93 million for the quarter, compared to analysts’ expectations of $260.15 million. Pinnacle Financial Partners had a net margin of 24.72% and a return on equity of 8.04%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.24 EPS. Sell-side analysts predict that Pinnacle Financial Partners will post 3.57 EPS for the current fiscal year.

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.

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Analyst Recommendations for Pinnacle Financial Partners (NASDAQ:PNFP)

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