Stephens Trims Pinnacle Financial Partners (NASDAQ:PNFP) Target Price to $102.00

Pinnacle Financial Partners (NASDAQ:PNFP) had its price target decreased by stock analysts at Stephens from $109.00 to $102.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Stephens’ target price would indicate a potential upside of 25.83% from the stock’s current price.

A number of other equities research analysts have also commented on PNFP. Truist Financial dropped their price objective on shares of Pinnacle Financial Partners from $99.00 to $94.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Barclays initiated coverage on Pinnacle Financial Partners in a report on Friday, March 8th. They issued an “equal weight” rating and a $93.00 price target on the stock. Hovde Group reduced their price objective on Pinnacle Financial Partners from $104.00 to $99.00 and set an “outperform” rating for the company in a research report on Tuesday, April 23rd. Jefferies Financial Group dropped their target price on Pinnacle Financial Partners from $88.00 to $85.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. Finally, JPMorgan Chase & Co. reduced their price target on Pinnacle Financial Partners from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Pinnacle Financial Partners presently has a consensus rating of “Hold” and a consensus price target of $94.63.

Pinnacle Financial Partners Trading Down 0.6 %

PNFP traded down $0.46 during mid-day trading on Thursday, hitting $81.06. The stock had a trading volume of 31,073 shares, compared to its average volume of 445,266. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.90. Pinnacle Financial Partners has a 1-year low of $47.61 and a 1-year high of $92.33. The stock’s fifty day simple moving average is $81.89 and its 200-day simple moving average is $81.62. The firm has a market capitalization of $6.26 billion, a price-to-earnings ratio of 11.56 and a beta of 1.09.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings results on Monday, April 22nd. The financial services provider reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.01. Pinnacle Financial Partners had a return on equity of 9.31% and a net margin of 18.59%. The company had revenue of $428.14 million during the quarter, compared to the consensus estimate of $413.27 million. As a group, research analysts forecast that Pinnacle Financial Partners will post 6.75 EPS for the current fiscal year.

Insider Buying and Selling at Pinnacle Financial Partners

In related news, CFO Harold R. Carpenter sold 6,306 shares of Pinnacle Financial Partners stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $82.22, for a total transaction of $518,479.32. Following the completion of the transaction, the chief financial officer now owns 63,856 shares in the company, valued at $5,250,240.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO M Terry Turner sold 24,057 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total value of $1,977,966.54. Following the transaction, the chief executive officer now directly owns 294,790 shares of the company’s stock, valued at $24,237,633.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Harold R. Carpenter sold 6,306 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $82.22, for a total transaction of $518,479.32. Following the completion of the transaction, the chief financial officer now owns 63,856 shares in the company, valued at approximately $5,250,240.32. The disclosure for this sale can be found here. Insiders sold a total of 235,093 shares of company stock worth $19,103,353 over the last quarter. 1.87% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pinnacle Financial Partners

Institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC raised its stake in Pinnacle Financial Partners by 6,999.3% in the 4th quarter. International Assets Investment Management LLC now owns 30,527 shares of the financial services provider’s stock worth $2,663,000 after purchasing an additional 30,097 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Pinnacle Financial Partners by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 876,314 shares of the financial services provider’s stock valued at $76,432,000 after buying an additional 33,355 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Pinnacle Financial Partners by 102.7% in the third quarter. Wellington Management Group LLP now owns 1,870,441 shares of the financial services provider’s stock valued at $125,394,000 after buying an additional 947,704 shares during the period. Barlow Wealth Partners Inc. acquired a new stake in Pinnacle Financial Partners during the fourth quarter worth approximately $12,535,000. Finally, Level Four Advisory Services LLC bought a new position in Pinnacle Financial Partners during the 4th quarter worth $824,000. Institutional investors own 87.40% of the company’s stock.

About Pinnacle Financial Partners

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.