Pinnacle Financial Partners (NASDAQ:PNFP) Lifted to Hold at BidaskClub

BidaskClub upgraded shares of Pinnacle Financial Partners (NASDAQ:PNFP) from a sell rating to a hold rating in a report issued on Monday, April 1st, BidAskClub reports.

PNFP has been the topic of several other reports. UBS Group upgraded shares of Pinnacle Financial Partners from a sell rating to a neutral rating and set a $50.00 target price on the stock in a research note on Tuesday, January 8th. Wells Fargo & Co set a $62.00 target price on shares of Pinnacle Financial Partners and gave the stock a buy rating in a research note on Wednesday, January 16th. Zacks Investment Research cut shares of Pinnacle Financial Partners from a hold rating to a sell rating in a research note on Friday, January 18th. Stephens reiterated a buy rating and issued a $60.00 target price on shares of Pinnacle Financial Partners in a research note on Wednesday, December 19th. Finally, TheStreet upgraded shares of Pinnacle Financial Partners from a c+ rating to a b- rating in a research note on Wednesday, February 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Hold and an average price target of $64.14.

Shares of PNFP stock traded down $0.36 during trading on Monday, reaching $57.11. 243,972 shares of the company’s stock traded hands, compared to its average volume of 464,264. Pinnacle Financial Partners has a 1 year low of $43.23 and a 1 year high of $68.70. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $4.43 billion, a P/E ratio of 12.05, a PEG ratio of 0.78 and a beta of 1.39.

Pinnacle Financial Partners (NASDAQ:PNFP) last posted its earnings results on Monday, April 15th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.03. Pinnacle Financial Partners had a net margin of 30.80% and a return on equity of 9.53%. The business had revenue of $238.30 million for the quarter, compared to analysts’ expectations of $246.03 million. During the same period in the prior year, the company posted $1.13 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, equities analysts predict that Pinnacle Financial Partners will post 5.08 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 3rd will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Thursday, May 2nd. Pinnacle Financial Partners’s payout ratio is 13.50%.

In related news, Chairman Richard D. Callicutt II sold 15,000 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $58.56, for a total transaction of $878,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Vice Chairman Ronald L. Samuel sold 1,600 shares of the stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $58.55, for a total transaction of $93,680.00. Following the transaction, the insider now directly owns 24,775 shares in the company, valued at approximately $1,450,576.25. The disclosure for this sale can be found here. Insiders sold a total of 44,188 shares of company stock worth $2,570,031 in the last three months. Insiders own 2.97% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Enlightenment Research LLC bought a new position in shares of Pinnacle Financial Partners during the 4th quarter valued at $28,000. Valeo Financial Advisors LLC bought a new position in shares of Pinnacle Financial Partners during the 1st quarter valued at $39,000. Pearl River Capital LLC bought a new position in shares of Pinnacle Financial Partners during the 4th quarter valued at $37,000. Toronto Dominion Bank bought a new position in shares of Pinnacle Financial Partners during the 4th quarter valued at $61,000. Finally, Advisors Asset Management Inc. bought a new position in shares of Pinnacle Financial Partners during the 4th quarter valued at $126,000. 81.55% of the stock is currently owned by institutional investors.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc operates as a 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, interest-bearing checking, money market, and certificate of deposit accounts.

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Analyst Recommendations for Pinnacle Financial Partners (NASDAQ:PNFP)

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