Pinnacle Financial Partners (PNFP) Upgraded by Keefe, Bruyette & Woods to Outperform

Pinnacle Financial Partners (NASDAQ:PNFP) was upgraded by equities research analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a report issued on Friday, February 16th, MarketBeat reports.

Other analysts have also issued research reports about the company. Sandler O’Neill set a $76.00 target price on Pinnacle Financial Partners and gave the company a “buy” rating in a report on Thursday, January 18th. SunTrust Banks decreased their price objective on Pinnacle Financial Partners to $80.00 and set a “buy” rating on the stock in a research note on Thursday, January 18th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $74.00 price objective on shares of Pinnacle Financial Partners in a research note on Thursday, October 19th. Hilliard Lyons upgraded Pinnacle Financial Partners from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 8th. Finally, Zacks Investment Research upgraded Pinnacle Financial Partners from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a research report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $76.14.

Pinnacle Financial Partners (NASDAQ PNFP) traded down $1.20 during trading on Friday, hitting $66.50. The stock had a trading volume of 483,568 shares, compared to its average volume of 543,987. Pinnacle Financial Partners has a twelve month low of $58.40 and a twelve month high of $70.30. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.00 and a quick ratio of 0.99. The stock has a market capitalization of $5,331.37, a PE ratio of 23.75, a PEG ratio of 1.04 and a beta of 1.07.

Pinnacle Financial Partners (NASDAQ:PNFP) last released its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.03. The firm had revenue of $211.20 million during the quarter, compared to analysts’ expectations of $224.62 million. Pinnacle Financial Partners had a return on equity of 7.24% and a net margin of 22.27%. Pinnacle Financial Partners’s revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.83 earnings per share. sell-side analysts expect that Pinnacle Financial Partners will post 4.72 EPS for the current fiscal year.

In other news, Director Ed C. Loughry, Jr. sold 1,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $67.88, for a total value of $67,880.00. Following the completion of the transaction, the director now owns 95,059 shares in the company, valued at approximately $6,452,604.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Ronald L. Samuel sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $67.20, for a total value of $201,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,882 shares of company stock valued at $10,002,261. 3.39% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in PNFP. Jennison Associates LLC raised its stake in Pinnacle Financial Partners by 51.7% during the 4th quarter. Jennison Associates LLC now owns 2,861,331 shares of the financial services provider’s stock valued at $189,706,000 after acquiring an additional 974,772 shares in the last quarter. Pinnacle Financial Partners Inc. raised its stake in Pinnacle Financial Partners by 337.7% during the 3rd quarter. Pinnacle Financial Partners Inc. now owns 1,112,747 shares of the financial services provider’s stock valued at $74,498,000 after acquiring an additional 858,514 shares in the last quarter. Wells Fargo & Company MN raised its stake in Pinnacle Financial Partners by 164.5% during the 3rd quarter. Wells Fargo & Company MN now owns 813,985 shares of the financial services provider’s stock valued at $54,496,000 after acquiring an additional 506,213 shares in the last quarter. Alliancebernstein L.P. raised its stake in Pinnacle Financial Partners by 232.0% during the 4th quarter. Alliancebernstein L.P. now owns 540,977 shares of the financial services provider’s stock valued at $35,867,000 after acquiring an additional 378,050 shares in the last quarter. Finally, Oak Ridge Investments LLC raised its stake in shares of Pinnacle Financial Partners by 798.5% in the 3rd quarter. Oak Ridge Investments LLC now owns 419,104 shares of the financial services provider’s stock worth $28,059,000 after buying an additional 372,457 shares in the last quarter. 72.13% of the stock is currently owned by hedge funds and other institutional investors.

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About Pinnacle Financial Partners

Pinnacle Financial Partners, Inc is a bank holding company. The Company operates through its subsidiary, Pinnacle Bank. The Company operates as a community bank primarily in the urban markets of Nashville, Knoxville, Memphis and Chattanooga, Tennessee and other counties. It provides the personalized service associated with small community banks, while seeking to offer the products and services, such as investments and treasury management.

Analyst Recommendations for Pinnacle Financial Partners (NASDAQ:PNFP)

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