Pinnacle Financial Partners (NYSE:PNFP) Stock Rating Lowered by Wall Street Zen

Pinnacle Financial Partners (NYSE:PNFP) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

Several other equities research analysts have also issued reports on PNFP. TD Cowen restated a “buy” rating on shares of Pinnacle Financial Partners in a report on Wednesday, January 7th. Raymond James Financial reiterated a “strong-buy” rating on shares of Pinnacle Financial Partners in a report on Thursday, January 22nd. JPMorgan Chase & Co. increased their price objective on shares of Pinnacle Financial Partners from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Barclays raised their price objective on shares of Pinnacle Financial Partners from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, December 19th. Finally, Truist Financial set a $100.00 target price on Pinnacle Financial Partners in a research note on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $113.41.

Pinnacle Financial Partners Stock Performance

Pinnacle Financial Partners stock opened at $82.94 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market capitalization of $6.43 billion, a PE ratio of 10.25, a price-to-earnings-growth ratio of 0.38 and a beta of 1.02. Pinnacle Financial Partners has a twelve month low of $81.08 and a twelve month high of $120.46.

Insider Transactions at Pinnacle Financial Partners

In other news, CFO Andrew J. Jr. Gregory acquired 1,000 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were purchased at an average price of $94.52 per share, with a total value of $94,520.00. Following the transaction, the chief financial officer directly owned 49,485 shares in the company, valued at approximately $4,677,322.20. This represents a 2.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.46% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pinnacle Financial Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. lifted its stake in Pinnacle Financial Partners by 1.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 7,377 shares of the company’s stock valued at $704,000 after acquiring an additional 116 shares during the period. Villanova Investment Management Co LLC boosted its holdings in shares of Pinnacle Financial Partners by 0.4% in the 4th quarter. Villanova Investment Management Co LLC now owns 28,511 shares of the company’s stock valued at $2,720,000 after acquiring an additional 118 shares during the last quarter. EJF Capital LLC increased its stake in shares of Pinnacle Financial Partners by 2.5% in the second quarter. EJF Capital LLC now owns 5,138 shares of the company’s stock worth $567,000 after acquiring an additional 127 shares during the period. Profund Advisors LLC increased its stake in shares of Pinnacle Financial Partners by 4.6% in the third quarter. Profund Advisors LLC now owns 2,895 shares of the company’s stock worth $272,000 after acquiring an additional 127 shares during the period. Finally, Diversified Trust Co. raised its holdings in shares of Pinnacle Financial Partners by 0.3% during the fourth quarter. Diversified Trust Co. now owns 54,349 shares of the company’s stock worth $5,185,000 after purchasing an additional 137 shares during the last quarter. 87.40% of the stock is owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners (NYSE: PNFP) is a bank holding company headquartered in Nashville, Tennessee, that provides a broad range of commercial and consumer banking services. Founded in 2000, the company operates through a network of banking offices and digital channels to serve individuals, small and middle-market businesses, and institutional clients. Pinnacle’s business model emphasizes relationship-based banking and tailored financial solutions for commercial borrowers and deposit customers.

The company’s product and service offerings include commercial and residential lending, treasury and payment solutions, deposit accounts, mortgage services, and cash management.