Pinnacle Financial Partners (NASDAQ:PNFP – Get Free Report)‘s stock had its “overweight” rating reiterated by research analysts at Stephens in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $142.00 target price on the financial services provider’s stock. Stephens’ price target indicates a potential upside of 16.07% from the stock’s previous close.
PNFP has been the subject of a number of other reports. Wells Fargo & Company boosted their price objective on Pinnacle Financial Partners from $104.00 to $120.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $135.00 price objective (up from $115.00) on shares of Pinnacle Financial Partners in a research note on Wednesday, December 4th. UBS Group assumed coverage on shares of Pinnacle Financial Partners in a research report on Tuesday, December 17th. They set a “neutral” rating and a $133.00 price objective on the stock. JPMorgan Chase & Co. dropped their target price 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. Finally, Truist Financial raised their price target on Pinnacle Financial Partners from $113.00 to $119.00 and gave the company a “buy” rating in a report on Monday, October 21st. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $125.18.
View Our Latest Analysis on PNFP
Pinnacle Financial Partners Stock Up 0.2 %
Pinnacle Financial Partners (NASDAQ:PNFP – Get Free Report) last posted its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.80 by $0.10. The firm had revenue of $475.34 million during the quarter, compared to analyst estimates of $470,334.57 billion. Pinnacle Financial Partners had a return on equity of 9.12% and a net margin of 15.48%. Pinnacle Financial Partners’s revenue was up 19.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.68 EPS. On average, research analysts expect that Pinnacle Financial Partners will post 7.56 earnings per share for the current year.
Insiders Place Their Bets
In other Pinnacle Financial Partners news, Director David B. Ingram sold 3,610 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $126.07, for a total transaction of $455,112.70. Following the transaction, the director now owns 139,489 shares in the company, valued at $17,585,378.23. The trade was a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Robert A. Mccabe, Jr. sold 50,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $124.09, for a total transaction of $6,204,500.00. Following the completion of the sale, the chairman now owns 123,000 shares of the company’s stock, valued at $15,263,070. This trade represents a 28.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,661 shares of company stock valued at $9,563,127 in the last quarter. 1.87% of the stock is currently owned by insiders.
Institutional Trading of Pinnacle Financial Partners
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Pinnacle Financial Partners by 9.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,046 shares of the financial services provider’s stock worth $804,000 after buying an additional 875 shares during the period. Hsbc Holdings PLC increased its stake in Pinnacle Financial Partners by 14.6% in the second quarter. Hsbc Holdings PLC now owns 4,818 shares of the financial services provider’s stock worth $386,000 after purchasing an additional 613 shares during the period. Intech Investment Management LLC bought a new stake in shares of Pinnacle Financial Partners during the second quarter worth $368,000. Sei Investments Co. boosted its stake in shares of Pinnacle Financial Partners by 15.8% during the second quarter. Sei Investments Co. now owns 268,208 shares of the financial services provider’s stock valued at $21,467,000 after purchasing an additional 36,604 shares during the period. Finally, Evergreen Capital Management LLC grew its holdings in shares of Pinnacle Financial Partners by 9.9% in the second quarter. Evergreen Capital Management LLC now owns 2,664 shares of the financial services provider’s stock worth $213,000 after purchasing an additional 240 shares during the last quarter. 87.40% of the stock is owned by hedge funds and other institutional investors.
Pinnacle Financial Partners Company Profile
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.
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