Pinnacle Financial Partners, Inc. (NYSE:PNFP) Receives $115.19 Average PT from Brokerages

Shares of Pinnacle Financial Partners, Inc. (NYSE:PNFP) have received a consensus rating of “Moderate Buy” from the nineteen ratings firms that are covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $115.1765.

A number of equities analysts have recently issued reports on PNFP shares. Robert W. Baird set a $115.00 price objective on Pinnacle Financial Partners in a report on Tuesday. Piper Sandler upped their price objective on Pinnacle Financial Partners from $120.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, January 28th. Raymond James Financial reiterated a “strong-buy” rating on shares of Pinnacle Financial Partners in a report on Thursday, January 22nd. TD Cowen cut their price objective on Pinnacle Financial Partners from $125.00 to $121.00 and set a “buy” rating for the company in a report on Monday, April 27th. Finally, UBS Group upped their price objective on Pinnacle Financial Partners from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, April 24th.

Institutional Investors Weigh In On Pinnacle Financial Partners

Several institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its holdings in Pinnacle Financial Partners by 6.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 651,268 shares of the company’s stock worth $69,060,000 after buying an additional 37,989 shares during the period. Focus Partners Wealth lifted its holdings in Pinnacle Financial Partners by 13.9% in the 1st quarter. Focus Partners Wealth now owns 4,755 shares of the company’s stock worth $504,000 after buying an additional 581 shares during the period. Amundi lifted its holdings in Pinnacle Financial Partners by 25,700.0% in the 2nd quarter. Amundi now owns 4,386 shares of the company’s stock worth $513,000 after buying an additional 4,369 shares during the period. Jump Financial LLC purchased a new stake in Pinnacle Financial Partners in the 2nd quarter worth approximately $229,000. Finally, Cerity Partners LLC lifted its holdings in Pinnacle Financial Partners by 4.2% in the 2nd quarter. Cerity Partners LLC now owns 26,061 shares of the company’s stock worth $2,877,000 after buying an additional 1,039 shares during the period. 87.40% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle Financial Partners Stock Down 0.5%

Shares of NYSE PNFP opened at $94.36 on Friday. The company has a market cap of $7.32 billion, a price-to-earnings ratio of 13.09, a P/E/G ratio of 0.36 and a beta of 1.06. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.90 and a quick ratio of 0.90. The business has a 50-day simple moving average of $91.27. Pinnacle Financial Partners has a twelve month low of $81.08 and a twelve month high of $120.46.

Pinnacle Financial Partners (NYSE:PNFP) last announced its earnings results on Wednesday, April 22nd. The company reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.09. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. Pinnacle Financial Partners had a return on equity of 10.61% and a net margin of 15.02%. As a group, research analysts anticipate that Pinnacle Financial Partners will post 10.34 EPS for the current fiscal year.

Pinnacle Financial Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 1st will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, May 1st. This represents a $2.00 annualized dividend and a yield of 2.1%. Pinnacle Financial Partners’s dividend payout ratio is currently 27.74%.

About Pinnacle Financial Partners

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.