Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Receives $106.00 Consensus PT from Analysts

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) has received an average recommendation of “Moderate Buy” from the ten analysts that are currently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $106.60.

Several research analysts have recently issued reports on PNFP shares. Stephens raised their price target on Pinnacle Financial Partners from $108.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Wells Fargo & Company raised their target price on Pinnacle Financial Partners from $100.00 to $104.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Piper Sandler cut Pinnacle Financial Partners from an “overweight” rating to a “neutral” rating and upped their price target for the company from $95.00 to $98.00 in a research note on Thursday, July 18th. Truist Financial lifted their price objective on shares of Pinnacle Financial Partners from $113.00 to $119.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Citigroup boosted their price objective on shares of Pinnacle Financial Partners from $113.00 to $123.00 and gave the company a “buy” rating in a report on Thursday, October 17th.

Institutional Investors Weigh In On Pinnacle Financial Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Rise Advisors LLC bought a new position in Pinnacle Financial Partners during the 1st quarter worth about $26,000. International Assets Investment Management LLC acquired a new position in shares of Pinnacle Financial Partners during the second quarter worth about $29,000. Versant Capital Management Inc grew its holdings in shares of Pinnacle Financial Partners by 44.5% during the second quarter. Versant Capital Management Inc now owns 432 shares of the financial services provider’s stock worth $35,000 after buying an additional 133 shares in the last quarter. UMB Bank n.a. raised its position in Pinnacle Financial Partners by 83.4% in the 3rd quarter. UMB Bank n.a. now owns 497 shares of the financial services provider’s stock valued at $49,000 after buying an additional 226 shares during the last quarter. Finally, Values First Advisors Inc. bought a new stake in Pinnacle Financial Partners in the 3rd quarter valued at approximately $49,000. 87.40% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle Financial Partners Stock Performance

Pinnacle Financial Partners stock opened at $100.76 on Friday. Pinnacle Financial Partners has a 1 year low of $60.19 and a 1 year high of $107.13. The company’s 50-day moving average is $97.33 and its two-hundred day moving average is $87.77. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.42. The company has a market cap of $7.78 billion, a PE ratio of 19.16 and a beta of 1.05.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.07. Pinnacle Financial Partners had a net margin of 13.97% and a return on equity of 8.89%. The business had revenue of $810.11 million for the quarter, compared to analyst estimates of $454.18 million. During the same period in the prior year, the business posted $1.79 earnings per share. Equities analysts anticipate that Pinnacle Financial Partners will post 6.82 earnings per share for the current year.

Pinnacle Financial Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 1st will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Friday, November 1st. Pinnacle Financial Partners’s payout ratio is currently 16.73%.

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 to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.