JPMorgan Chase & Co. Increases Pinnacle Financial Partners (NYSE:PNFP) Price Target to $125.00

Pinnacle Financial Partners (NYSE:PNFP) had its price target upped by investment analysts at JPMorgan Chase & Co. from $115.00 to $125.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 22.61% from the stock’s current price.

A number of other equities analysts have also issued reports on the company. Wall Street Zen raised Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Weiss Ratings upgraded shares of Pinnacle Financial Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Evercore restated an “outperform” rating and issued a $115.00 price target on shares of Pinnacle Financial Partners in a research report on Wednesday, April 29th. Benchmark assumed coverage on Pinnacle Financial Partners in a research note on Wednesday, June 24th. They set a “buy” rating and a $132.00 price objective for the company. Finally, TD Cowen reduced their target price 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. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Pinnacle Financial Partners presently has an average rating of “Moderate Buy” and an average target price of $116.61.

Pinnacle Financial Partners Stock Up 1.1%

Shares of Pinnacle Financial Partners stock traded up $1.07 during trading hours on Wednesday, hitting $101.95. The company’s stock had a trading volume of 37,477 shares, compared to its average volume of 1,506,663. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.42. Pinnacle Financial Partners has a 1-year low of $81.08 and a 1-year high of $120.46. The firm has a market cap of $7.91 billion, a P/E ratio of 14.14, a PEG ratio of 0.38 and a beta of 1.04. The firm has a fifty day moving average price of $96.96.

Pinnacle Financial Partners (NYSE:PNFP) last released its quarterly 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. Pinnacle Financial Partners had a return on equity of 10.61% and a net margin of 15.02%.The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. On average, sell-side analysts anticipate that Pinnacle Financial Partners will post 10.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pinnacle Financial Partners

Hedge funds have recently added to or reduced their stakes in the company. Resources Management Corp CT ADV acquired a new stake in Pinnacle Financial Partners in the 1st quarter worth approximately $26,000. Brown Brothers Harriman & Co. bought a new position in Pinnacle Financial Partners in the 3rd quarter worth $26,000. High Point Wealth Management LLC acquired a new position in Pinnacle Financial Partners during the 4th quarter worth $27,000. BOKF NA grew its position in shares of Pinnacle Financial Partners by 1,204.5% in the third quarter. BOKF NA now owns 287 shares of the company’s stock valued at $27,000 after purchasing an additional 265 shares during the last quarter. Finally, Activest Wealth Management bought a new position in shares of Pinnacle Financial Partners in the fourth quarter worth about $28,000. Institutional investors and hedge funds own 87.40% of the company’s stock.

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.