Analysts Set Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Target Price at $125.18

Shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) have received an average rating of “Hold” from the eleven brokerages that are covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $125.18.

Several brokerages recently issued reports on PNFP. JPMorgan Chase & Co. cut their price target on shares of Pinnacle Financial Partners from $140.00 to $138.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Stephens reissued an “overweight” rating and set a $142.00 price target on shares of Pinnacle Financial Partners in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $135.00 price target (up from $115.00) on shares of Pinnacle Financial Partners in a report on Wednesday, December 4th. Hovde Group downgraded shares of Pinnacle Financial Partners from an “outperform” rating to a “market perform” rating and set a $135.00 price target for the company. in a report on Monday, November 18th. Finally, UBS Group began coverage on shares of Pinnacle Financial Partners in a report on Tuesday, December 17th. They set a “neutral” rating and a $133.00 price target for the company.

Pinnacle Financial Partners Price Performance

NASDAQ:PNFP opened at $113.07 on Friday. The company has a 50-day moving average of $118.45 and a 200-day moving average of $110.39. The company has a market capitalization of $8.73 billion, a price-to-earnings ratio of 18.91 and a beta of 1.09. Pinnacle Financial Partners has a 52 week low of $73.62 and a 52 week high of $131.91. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.90 and a current ratio of 0.90.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.10. Pinnacle Financial Partners had a net margin of 15.48% and a return on equity of 9.04%. The company had revenue of $475.34 million during the quarter, compared to the consensus estimate of $470.33 million. During the same period last year, the firm earned $1.68 EPS. The firm’s revenue for the quarter was up 19.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Pinnacle Financial Partners will post 7.85 earnings per share for the current fiscal year.

Pinnacle Financial Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 7th will be given a dividend of $0.24 per share. This is a boost from Pinnacle Financial Partners’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.96 annualized dividend and a dividend yield of 0.85%. Pinnacle Financial Partners’s payout ratio is currently 16.05%.

Insider Transactions at Pinnacle Financial Partners

In other news, CFO Harold R. Carpenter sold 3,051 shares of Pinnacle Financial Partners stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $125.57, for a total transaction of $383,114.07. Following the completion of the sale, the chief financial officer now owns 60,805 shares in the company, valued at $7,635,283.85. The trade was a 4.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David B. Ingram sold 20,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $126.02, for a total transaction of $2,520,400.00. Following the sale, the director now owns 92,565 shares of the company’s stock, valued at approximately $11,665,041.30. This represents a 17.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 166,970 shares of company stock worth $20,474,461 in the last quarter. 1.87% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pinnacle Financial Partners

Institutional investors have recently modified their holdings of the business. OneDigital Investment Advisors LLC grew its holdings in Pinnacle Financial Partners by 1.3% during the third quarter. OneDigital Investment Advisors LLC now owns 6,646 shares of the financial services provider’s stock valued at $651,000 after purchasing an additional 88 shares during the period. Principal Securities Inc. grew its holdings in Pinnacle Financial Partners by 12.7% during the fourth quarter. Principal Securities Inc. now owns 808 shares of the financial services provider’s stock valued at $92,000 after purchasing an additional 91 shares during the period. Sage Mountain Advisors LLC grew its holdings in Pinnacle Financial Partners by 0.3% during the fourth quarter. Sage Mountain Advisors LLC now owns 36,198 shares of the financial services provider’s stock valued at $4,141,000 after purchasing an additional 99 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Pinnacle Financial Partners by 0.6% during the third quarter. EverSource Wealth Advisors LLC now owns 17,976 shares of the financial services provider’s stock valued at $1,761,000 after purchasing an additional 100 shares during the period. Finally, Utah Retirement Systems grew its holdings in Pinnacle Financial Partners by 2.5% during the fourth quarter. Utah Retirement Systems now owns 4,090 shares of the financial services provider’s stock valued at $468,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 87.40% 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 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.