Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Announces $0.50 Dividend

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) announced a dividend on Monday, January 26th. Shareholders of record on Friday, February 6th will be given a dividend of 0.50 per share by the financial services provider on Friday, February 27th. The ex-dividend date of this dividend is Friday, February 6th.

Pinnacle Financial Partners has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Pinnacle Financial Partners has a dividend payout ratio of 11.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Pinnacle Financial Partners to earn $8.99 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 10.7%.

Pinnacle Financial Partners Price Performance

Shares of NASDAQ PNFP opened at $95.86 on Tuesday. The stock has a market capitalization of $7.44 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 0.48 and a beta of 1.02. Pinnacle Financial Partners has a 12 month low of $81.57 and a 12 month high of $127.85. The firm’s 50 day simple moving average is $96.48 and its 200-day simple moving average is $94.96. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.89 and a quick ratio of 0.89.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $116.00 price target on shares of Pinnacle Financial Partners and gave the stock a “buy” rating in a report on Wednesday, January 21st. UBS Group reiterated a “neutral” rating and issued a $107.00 price objective on shares of Pinnacle Financial Partners in a research report on Tuesday, January 6th. Raymond James Financial restated a “strong-buy” rating on shares of Pinnacle Financial Partners in a research report on Thursday. Wells Fargo & Company cut their price target on Pinnacle Financial Partners from $110.00 to $100.00 and set an “equal weight” rating for the company in a research note on Friday, October 17th. Finally, Citigroup increased their price target on Pinnacle Financial Partners from $118.00 to $122.00 and gave the stock a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Pinnacle Financial Partners has an average rating of “Moderate Buy” and an average target price of $113.29.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc (NASDAQ: PNFP) is a financial services company headquartered in Nashville, Tennessee, that provides banking, wealth management and insurance solutions to business and consumer clients. The company operates through two primary segments—Banking and Wealth Management & Advisory—offering a comprehensive suite of products that includes commercial and consumer lending, deposit services, treasury management, trust and investment advisory, and insurance brokerage. Pinnacle’s client-focused model emphasizes relationship-based banking, leveraging local decision-making authority and specialized industry expertise to serve diverse sectors such as healthcare, technology, real estate and professional services.

In its banking segment, Pinnacle delivers commercial and consumer loans, lines of credit, equipment financing, and mortgage lending.