Pinnacle Financial Partners, Inc. (NASDAQ:PNFP – Get Free Report) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Shareholders of record on Friday, May 3rd will be paid a dividend of 0.22 per share by the financial services provider on Friday, May 31st. This represents a $0.88 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, May 2nd.
Pinnacle Financial Partners has increased its dividend payment by an average of 11.2% per year over the last three years. Pinnacle Financial Partners has a dividend payout ratio of 11.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Pinnacle Financial Partners to earn $7.98 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 11.0%.
Pinnacle Financial Partners Trading Up 2.0 %
Shares of PNFP stock opened at $82.96 on Thursday. Pinnacle Financial Partners has a 1 year low of $43.31 and a 1 year high of $92.33. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.90. The stock’s 50 day simple moving average is $82.35 and its two-hundred day simple moving average is $79.18. The company has a market cap of $6.39 billion, a PE ratio of 11.87 and a beta of 1.08.
Insider Buying and Selling
Analyst Ratings Changes
A number of research analysts have recently commented on PNFP shares. Hovde Group cut their target price on Pinnacle Financial Partners from $104.00 to $99.00 and set an “outperform” rating on the stock in a research note on Tuesday. Barclays started coverage on Pinnacle Financial Partners in a research note on Friday, March 8th. They set an “equal weight” rating and a $93.00 target price on the stock. JPMorgan Chase & Co. cut their target price on Pinnacle Financial Partners from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Wednesday. UBS Group cut their target price on Pinnacle Financial Partners from $91.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, January 18th. Finally, Truist Financial upped their target price on Pinnacle Financial Partners from $93.00 to $99.00 and gave the company a “buy” rating in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $96.13.
Get Our Latest Research Report on Pinnacle Financial Partners
Pinnacle Financial Partners Company Profile
Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.
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