Pinnacle Financial Partners, Inc. (NASDAQ:PNFP – Get Rating) has earned an average rating of “Moderate Buy” from the seven research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $95.33.
PNFP has been the topic of several research analyst reports. Truist Financial lowered their price target on Pinnacle Financial Partners from $100.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, June 15th. Stephens lowered their price target on Pinnacle Financial Partners from $105.00 to $104.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 20th. JPMorgan Chase & Co. lowered their price target on Pinnacle Financial Partners from $123.00 to $95.00 and set an “overweight” rating on the stock in a research report on Friday, July 1st. Jefferies Financial Group downgraded Pinnacle Financial Partners from a “hold” rating to an “underperform” rating and lowered their price target for the company from $85.00 to $66.00 in a research report on Monday, July 11th. Finally, StockNews.com raised Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, July 5th.
Pinnacle Financial Partners Trading Up 4.3 %
Pinnacle Financial Partners stock opened at $71.60 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of 10.53 and a beta of 1.21. Pinnacle Financial Partners has a one year low of $67.86 and a one year high of $111.31. The company’s fifty day moving average price is $75.03 and its two-hundred day moving average price is $87.76.
Pinnacle Financial Partners (NASDAQ:PNFP – Get Rating) last posted its earnings results on Monday, April 18th. The financial services provider reported $1.65 EPS for the quarter, topping the consensus estimate of $1.60 by $0.05. The firm had revenue of $342.97 million for the quarter, compared to the consensus estimate of $347.34 million. Pinnacle Financial Partners had a net margin of 36.76% and a return on equity of 10.59%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.61 earnings per share. On average, analysts forecast that Pinnacle Financial Partners will post 7.21 earnings per share for the current fiscal year.
Pinnacle Financial Partners Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, May 27th. Investors of record on Friday, May 6th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, May 5th. Pinnacle Financial Partners’s payout ratio is presently 12.94%.
Institutional Investors Weigh In On Pinnacle Financial Partners
Hedge funds have recently made changes to their positions in the stock. UMB Bank N A MO bought a new stake in shares of Pinnacle Financial Partners in the fourth quarter valued at about $29,000. Quent Capital LLC lifted its stake in Pinnacle Financial Partners by 131.6% during the first quarter. Quent Capital LLC now owns 366 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 208 shares during the period. Horizon Financial Services LLC bought a new position in Pinnacle Financial Partners during the fourth quarter worth about $35,000. Front Row Advisors LLC lifted its stake in Pinnacle Financial Partners by 299.0% during the first quarter. Front Row Advisors LLC now owns 383 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 287 shares during the period. Finally, Exchange Traded Concepts LLC bought a new position in Pinnacle Financial Partners during the first quarter worth about $45,000. Institutional investors own 80.41% of the company’s stock.
About Pinnacle Financial Partners
Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The company accepts various deposits, including savings, checking, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts.
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