Pinnacle Financial Partners, Inc. (NYSE:PNFP) Stock Has Average Target Price of $120.15 According to Brokerages

Shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) have been assigned a consensus rating of “Moderate Buy” from the twenty-one research firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $120.15.

Several equities analysts recently commented on the company. DA Davidson boosted their price target on Pinnacle Financial Partners from $112.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, October 23rd. Weiss Ratings lowered Pinnacle Financial Partners from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 29th. Evercore restated an “outperform” rating on shares of Pinnacle Financial Partners in a research report on Tuesday, October 27th. Robert W. Baird increased their price objective on Pinnacle Financial Partners from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, October 23rd. Finally, Morgan Stanley raised their target price on Pinnacle Financial Partners from $139.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, October 23rd.

Pinnacle Financial Partners Stock Performance

Shares of NYSE:PNFP traded up $1.66 during trading on Friday, reaching $100.98. The company had a trading volume of 1,046,319 shares, compared to its average volume of 1,294,739. Pinnacle Financial Partners has a fifty-two week low of $81.08 and a fifty-two week high of $110.33. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.93 and a quick ratio of 0.93. The stock’s fifty day moving average price is $97.83 and its 200 day moving average price is $97.11. The firm has a market capitalization of $15.26 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 0.38 and a beta of 1.04.

Pinnacle Financial Partners (NYSE:PNFP) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $2.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.07. Pinnacle Financial Partners had a net margin of 15.97% and a return on equity of 11.33%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.28 billion. As a group, equities research analysts predict that Pinnacle Financial Partners will post 10.25 EPS for the current year.

Pinnacle Financial Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 6th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, November 6th. Pinnacle Financial Partners’s dividend payout ratio (DPR) is 26.70%.

Insider Transactions at Pinnacle Financial Partners

In other news, Director Gregory Montana bought 500 shares of the business’s stock in a transaction on Thursday, September 10th. The stock was purchased at an average price of $98.61 per share, with a total value of $49,305.00. Following the transaction, the director directly owned 4,959 shares in the company, valued at approximately $489,006.99. The trade was a 11.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider M. Turner sold 54,107 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $108.13, for a total value of $5,850,589.91. Following the completion of the sale, the insider directly owned 248,123 shares in the company, valued at approximately $26,829,539.99. This represents a 17.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have purchased 13,065 shares of company stock worth $1,290,941. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. EP Wealth Advisors LLC acquired a new position in shares of Pinnacle Financial Partners during the third quarter worth approximately $749,000. Fourthstone LLC bought a new position in Pinnacle Financial Partners during the third quarter valued at about $945,000. Marshall Wace LLP acquired a new position in Pinnacle Financial Partners in the 3rd quarter valued at approximately $5,099,000. Kovack Advisors Inc. bought a new stake in shares of Pinnacle Financial Partners in the 3rd quarter worth approximately $27,000. Finally, State Board of Administration of Florida Retirement System lifted its position in shares of Pinnacle Financial Partners by 7.0% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 155,807 shares of the company’s stock worth $14,585,000 after acquiring an additional 10,145 shares during the period. 87.40% of the stock is owned by institutional investors.

About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc. is a financial services company headquartered in Nashville, Tennessee. Founded in 2000, it operates Pinnacle Bank and provides banking and related financial services to individuals, businesses and other organizations. Its services include commercial and consumer banking, lending, treasury management, mortgage banking, wealth management, trust services and insurance. The company has built a regional presence across Tennessee and other Southeastern and Mid-Atlantic markets, including North Carolina, South Carolina, Georgia and Virginia.